Guideline Value for Avviyar Street

Avviyar Street guideline value

The current guideline value of Avviyar Street in Ramapuram village is Rs 1,950 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class III Type - I.

How the guideline value of Avviyar Street has changed

Looking at the historical revisions, the guideline value for Avviyar Street was Rs 1,750 per sq.ft in 2023, which reflects an increase of 11% to the current value of Rs 1,950 per sq.ft in 2024. Prior to that, in 2017, the value was Rs 1,172 per sq.ft, showing a significant increase of 49% over the six-year period up to 2023.

In 2012, the guideline value was Rs 1,750 per sq.ft, which indicates a decrease of 33% to the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ramapuram

In Ramapuram, there are 394 streets under the Chennai South Joint II SRO that have a 2024 guideline value, ranging from Rs 1,950 to Rs 6,600 per sq.ft, with a median value of Rs 3,100 per sq.ft. Avviyar Street's current guideline value is below this median.

• Avvai Street: Rs 2,750 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• Bajanai Koil Street Lane: Rs 2,750 per sq.ft (2024)
• Bakthi Vedhanda 2nd Avenue: Rs 2,750 per sq.ft (2024)
• Bakthi Vedhanda 3rd Avenue: Rs 2,750 per sq.ft (2024)
• Bakthi Vedhanda First Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Avviyar Street

For a 1,000 sq.ft plot at the current rate of Rs 1,950 per sq.ft, the guideline value amounts to Rs 19,50,000. The stamp duty at 7% would be Rs 1,36,500, and the registration fee at 2% would be Rs 39,000, bringing the total to Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Avviyar Street?

The Sub Registrar Office that covers Avviyar Street is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Ramapuram

The guideline value is a crucial factor in the registration process when buying or selling property in Ramapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions reflect fair value.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Avviyar Street?

The current guideline value of Avviyar Street is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,750 per sq.ft in 2023 to Rs 1,950 per sq.ft in 2024, an increase of 11%. It was Rs 1,172 per sq.ft in 2017, showing a 49% increase to the 2023 figure.

What is the land classification of Avviyar Street?

Avviyar Street is classified as Residential Class III Type - I, indicating its designation for residential purposes.

Are there other streets with higher guideline values in Ramapuram?

Yes, there are several other streets in Ramapuram with higher guideline values, such as Avvai Street and Bajanai Koil Street, both valued at Rs 2,750 per sq.ft in 2024.

Where can I find the Sub Registrar Office for Avviyar Street?

The Sub Registrar Office for Avviyar Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.