Guideline Value for Avwai Nagar

Avwai Nagar guideline value

The current guideline value of Avwai Nagar, located in Kolathur village under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Avwai Nagar has changed

The guideline value for Avwai Nagar has seen several revisions over the years. In 2007, the value was set at Rs 1,000 per sq.ft. This increased significantly to Rs 2,500 per sq.ft in 2012, followed by a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the most recent revision in 2024 has set the value at Rs 2,700 per sq.ft. The changes between these revisions include a 150% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and an 8% increase from 2023 to 2024.

The guideline value register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Avwai Nagar is below this median.

• Athiaman Nagar 3rd Street: Rs 3,300 per sq.ft (2024)
• Athiaman Nagar 2nd Street: Rs 3,300 per sq.ft (2024)
• Athiaman Nagar 1st Street: Rs 3,300 per sq.ft (2024)
• Bagavathi Amman 1st Street: Rs 2,700 per sq.ft (2024)
• Bagavathi Amman 2nd Street: Rs 2,700 per sq.ft (2024)
• Bagavathi Amman 3rd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Avwai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total fees to Rs 2,43,000. It's 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 precise calculations.

Which Sub Registrar Office covers Avwai Nagar?

The Sub Registrar Office that covers Avwai Nagar is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Kolathur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. This value is essential for both buyers and sellers to understand the financial obligations involved in a property transaction.

When registering a property, the guideline value acts as a benchmark for the transaction value. Buyers should be aware that the duty is charged based on the higher amount between the guideline value and the actual sale price, ensuring that the registration process reflects the true value of the property.

Frequently asked questions

What is the current guideline value of Avwai Nagar?

The current guideline value of Avwai Nagar is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 170% over this period.

What are the other streets in Kolathur with similar guideline values?

Other streets in Kolathur with similar guideline values include Bagavathi Amman 1st, 2nd, and 3rd Streets, all at Rs 2,700 per sq.ft, and Athiaman Nagar Streets, all at Rs 3,300 per sq.ft.

Where is the Sub Registrar Office for Avwai Nagar located?

The Sub Registrar Office for Avwai Nagar is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in Avwai Nagar?

Stamp duty for properties in Avwai Nagar is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at 7%.