Guideline Value for 2ND AVENUE

2nd Avenue guideline value

The current guideline value of 2nd Avenue in Koyakbedu village, under the AnnaNagar SRO, is Rs 15,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of 2nd Avenue has changed

In the 2017 revision, the guideline value for 2nd Avenue was Rs 9,715 per sq.ft. This increased to Rs 14,500 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 saw another increase of 10%, bringing the current guideline value to Rs 15,900 per sq.ft.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Koyakbedu

In Koyakbedu, there are 270 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, indicating that 2nd Avenue's 2024 figure is above this median.

• 4th Avenue: Rs 15,900 per sq.ft (2024)
• Z Block 13th Main Road: Rs 13,100 per sq.ft (2024)
• Yamuna Street: Rs 3,300 per sq.ft (2024)
• Yadhaval Street: Rs 3,300 per sq.ft (2024)
• West Mada Street: Rs 3,300 per sq.ft (2024)
• Vivekananda Street (H Block): Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in 2nd Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value would be Rs 1,59,00,000. The stamp duty, charged at 7%, would amount to Rs 11,13,000, while the registration fee at 2% would be Rs 3,18,000. Together, these fees would total Rs 14,31,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers 2nd Avenue?

The Sub Registrar Office that covers 2nd Avenue is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Koyakbedu. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring that the transaction is officially recognized by the state.

When a property is sold, the guideline value helps in establishing a baseline for the transaction. Buyers and sellers must consider this value to understand the financial implications of their property dealings, as it directly affects the costs associated with registration.

Frequently asked questions

What is the current guideline value of 2nd Avenue?

The current guideline value of 2nd Avenue is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant increases, from Rs 9,715 per sq.ft in 2017 to Rs 14,500 per sq.ft in 2023, and then to Rs 15,900 per sq.ft in 2024.

What is the land classification for 2nd Avenue?

2nd Avenue is classified as Residential Special Type - II, which is relevant for understanding its usage and valuation.

Where can I find the Sub Registrar Office for 2nd Avenue?

The Sub Registrar Office for 2nd Avenue is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property in 2nd Avenue?

Stamp duty for property in 2nd Avenue is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, there is a registration fee of 2% on the guideline value.