Guideline Value for 7th Avenue , “L” West Appolo Flats

7th Avenue , “L” West Appolo Flats guideline value

The current guideline value for 7th Avenue , “L” West Appolo Flats is Rs 13,200 per sq.ft, effective from 1 July 2024. This property is located in Thirumangalam village under the AnnaNagar SRO, classified as Mixed Type - II land.

How the guideline value of 7th Avenue , “L” West Appolo Flats has changed

The guideline value of 7th Avenue , “L” West Appolo Flats has undergone several revisions over the years. The earliest available figure is from 2007, which was Rs 11,500 per sq.ft. This increased to Rs 12,000 per sq.ft in 2012, marking a 4% rise. However, it then dropped to Rs 8,040 per sq.ft in 2017, reflecting a 33% decrease. The value saw a significant increase of 49% to Rs 12,000 per sq.ft in 2023, followed by another increase of 10% to reach the current value of Rs 13,200 per sq.ft in 2024.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 15%.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft, with a median value of Rs 11,500 per sq.ft. The guideline value for 7th Avenue , “L” West Appolo Flats is above this median.

• 7th Avenue Bharathi Colony: Rs 13,200 per sq.ft (2024)
• 7th Avenue Appolo Flats: Rs 13,200 per sq.ft (2024)
• 7th Avenue, Ambedkar Statute to old Thirumangalam, End Point Facing East West and West East Both sides coovam River Area near Bridge: Rs 13,200 per sq.ft (2024)
• 7 th Avenue, 100 feet Road: Rs 13,200 per sq.ft (2024)
• 2nd Avenue: Rs 15,900 per sq.ft (2024)
• Y- Block (West) 1593, 3013, 3065 2907 (Near Natesan Co-operative Training Institute) 13th Main Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in 7th Avenue , “L” West Appolo Flats

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers 7th Avenue , “L” West Appolo Flats?

The Sub Registrar Office that covers 7th Avenue , “L” West Appolo Flats is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Thirumangalam. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, it's essential to be aware of the guideline value, as it can influence the overall costs involved in the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

What is the current guideline value for 7th Avenue , “L” West Appolo Flats?

The current guideline value for 7th Avenue , “L” West Appolo Flats is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 11,500 per sq.ft in 2007 to Rs 13,200 per sq.ft in 2024, showing an overall increase of 15%. The most significant change occurred from 2017 to 2023, where it rose by 49%.

What is the land classification for 7th Avenue , “L” West Appolo Flats?

The land classification for 7th Avenue , “L” West Appolo Flats is Mixed Type - II.

Where can I find the Sub Registrar Office for this property?

The Sub Registrar Office covering 7th Avenue , “L” West Appolo Flats is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Thirumangalam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,32,00,000, the stamp duty at 7% would be Rs 9,24,000.