Guideline Value for New Avadi Salai

New Avadi Salai guideline value

The current guideline value of New Avadi Salai is Rs 13,500 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and it is classified as Commercial Special Type - III.

How the guideline value of New Avadi Salai has changed

The guideline value for New Avadi Salai has undergone several revisions over the years. In 2002, the value was Rs 1,764 per sq.ft, which increased to Rs 1,945 per sq.ft in 2003. Following that, the value saw a significant rise to Rs 5,000 per sq.ft in 2007, and it further increased to Rs 12,300 per sq.ft in 2012. However, there was a decrease to Rs 8,241 per sq.ft in 2017. The value then rose again to Rs 12,300 per sq.ft in 2023 before reaching the current rate of Rs 13,500 per sq.ft in 2024.

The changes between these revisions indicate a 10% increase from 2023 to 2024, a 49% increase from 2017 to 2023, a 33% decrease from 2012 to 2017, a 146% increase from 2007 to 2012, a 157% increase from 2003 to 2007, and a 10% increase from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 665%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, placing New Avadi Salai's 2024 figure above this median.

• New Colony: Rs 8,300 per sq.ft (2024)
• New colony 1st street: Rs 8,300 per sq.ft (2024)
• New Colony 2nd street: Rs 8,300 per sq.ft (2024)
• New colony 3rd street: Rs 8,300 per sq.ft (2024)
• New Mandapam Road: Rs 3,900 per sq.ft (2024)
• Nehru Park: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in New Avadi Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 13,500 per sq.ft, the total guideline value would be Rs 1,35,00,000. The stamp duty at 7% would amount to Rs 9,45,000, and the registration fee at 2% would be Rs 2,70,000, totaling Rs 12,15,000. 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 more precise calculations.

Which Sub Registrar Office covers New Avadi Salai?

The Sub Registrar Office that covers New Avadi Salai is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Egmore. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the transaction.

Additionally, the guideline value serves as a benchmark for property transactions within the area, influencing the overall registration process. Buyers should ensure that the sale price is either equal to or higher than the guideline value to avoid any complications during registration.

Frequently asked questions

What is the current guideline value of New Avadi Salai?

The current guideline value of New Avadi Salai is Rs 13,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,764 per sq.ft in 2002 to Rs 13,500 per sq.ft in 2024, with various revisions reflecting increases and decreases throughout the years.

What is the classification of land on New Avadi Salai?

The land classification for New Avadi Salai is Commercial Special Type - III, indicating its specific use and zoning regulations.

Where can I find the Sub Registrar Office for New Avadi Salai?

The Sub Registrar Office covering New Avadi Salai is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,35,00,000, the stamp duty would be calculated at 7% of that amount.