Guideline Value for ADITHYA AVENUE

Adithya Avenue guideline value

The current guideline value of Adithya Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - III.

How the guideline value of Adithya Avenue has changed

Over the years, the guideline value of Adithya Avenue has seen several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased to Rs 1,500 per sq.ft in the 2012 revision. However, between 2012 and 2017, the value decreased to Rs 1,005 per sq.ft. The 2017 revision marked a significant increase to Rs 1,500 per sq.ft in 2023, followed by the latest revision in 2024, which raised the value to Rs 1,600 per sq.ft. Notably, the register has no figures for the years 2002 and 2003 for this street.

From the 2017 revision to the 2023 revision, the change was +49%. The transition from 2012 to 2017 saw a decrease of -33%, while the jump from 2007 to 2012 was a substantial +150%. Overall, from 2007 to 2024, the guideline value has increased by +167%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,500 per sq.ft, placing Adithya Avenue's 2024 value below that median.

• Agraharam Street: Rs 2,900 per sq.ft (2024)
• Alliance Orchid Springs: Rs 3,800 per sq.ft (2024)
• Amman Koil Street @ Nagathamman Koil Street (Thanthankuppam): Rs 1,600 per sq.ft (2024)
• Anand Garden: Rs 1,600 per sq.ft (2024)
• Ananthalakshmi Nagar: Rs 1,600 per sq.ft (2024)
• Ananthalakshmi Nagar Extension: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Adithya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total charges to Rs 1,44,000. The duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Adithya Avenue?

The Sub Registrar Office covering Adithya Avenue is the Villivakkam 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 more information.

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

The guideline value plays a crucial role in the registration process for property transactions in Korattur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the transaction reflects the official value set by the Registration Department. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of Adithya Avenue?

The current guideline value of Adithya Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2007 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of +167% over the years.

What are the stamp duty rates for properties in Adithya Avenue?

The stamp duty for properties in Adithya Avenue is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Korattur?

The Villivakkam Sub Registrar Office handles property registrations in Korattur. It is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for Adithya Avenue?

Adithya Avenue is classified as Residential Class III Type - III, indicating its designation for residential use.