Guideline Value for ALAMELU AVENUE

Alamelu Avenue guideline value

The current guideline value of Alamelu Avenue in Varanavasi village, under the Walajabad SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

How the guideline value of Alamelu Avenue has changed

Over the years, the guideline value of Alamelu Avenue has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2017 revision, where it was adjusted to Rs 268 per sq.ft, marking a decrease of 33%. Following this, the 2023 revision brought the value back up to Rs 400 per sq.ft, and the 2024 revision has maintained this figure, resulting in no overall change from 2012 to 2024.

From 2017 to 2023, there was a significant increase of 49% in the guideline value. Notably, the revisions for the years 2002, 2003, and 2007 do not have any figures recorded for Alamelu Avenue in the register.

Guideline values in Varanavasi

In Varanavasi, the guideline value for Alamelu Avenue is consistent with other streets under the Walajabad SRO. The following are the guideline values for other streets in Varanavasi:

• Tamil Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Alamelu Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value would be Rs 4,00,000. The stamp duty at 7% would amount to Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees together to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Alamelu Avenue?

The Sub Registrar Office that covers Alamelu Avenue is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a critical component in the property registration process in Varanavasi. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the fees based on the higher of the guideline value or the sale price. This ensures that the appropriate taxes are collected in accordance with the established regulations.

Frequently asked questions

What is the current guideline value of Alamelu Avenue?

The current guideline value of Alamelu Avenue is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being Rs 400 per sq.ft in both 2023 and 2024. It was Rs 268 per sq.ft in 2017 and Rs 400 per sq.ft in 2012.

What are the stamp duty and registration fees for property in Alamelu Avenue?

For a property valued at Rs 4,00,000, the stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Alamelu Avenue?

Alamelu Avenue falls under the jurisdiction of the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

Are there other streets in Varanavasi with the same guideline value?

Yes, other streets in Varanavasi, such as Tamil Nagar, also have a guideline value of Rs 400 per sq.ft as of 2024.