Guideline Value for ARAVIND AVENUE

Aravind Avenue guideline value

The current guideline value of Aravind Avenue is Rs 2,950 per sq.ft, effective from 1 July 2024. This street is located in Chitthalapakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Aravind Avenue has changed

The guideline value for Aravind Avenue has undergone several revisions over the years. In 2012, the guideline value was Rs 2,700 per sq.ft, which decreased to Rs 1,809 per sq.ft in 2017. However, from 2017 to 2023, it saw a significant increase of 49%, bringing the value up to Rs 2,700 per sq.ft. The latest revision in 2024 set the guideline value at Rs 2,950 per sq.ft, marking a 9% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 9%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, placing Aravind Avenue's 2024 figure above this median.

• Aravindar Enclave: Rs 1,950 per sq.ft (2024)
• Arun Avenue: Rs 2,700 per sq.ft (2024)
• Arun Avenue Extension: Rs 3,300 per sq.ft (2024)
• Amutha Nagar: Rs 2,450 per sq.ft (2024)
• Amudhas Green Layout: Rs 3,330 per sq.ft (2024)
• Bajanai Koil Street: Rs 2,950 per sq.ft (2024)

Stamp duty and registration fee for property in Aravind Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,950 per sq.ft, the total guideline value would be Rs 29,50,000. The stamp duty at 7% would amount to Rs 2,06,500, and the registration fee at 2% would be Rs 59,000, bringing the total to Rs 2,65,500. 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 further calculations.

Which Sub Registrar Office covers Aravind Avenue?

The Sub Registrar Office that covers Aravind Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chitthalapakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Aravind Avenue?

The current guideline value of Aravind Avenue is Rs 2,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 to Rs 1,809 per sq.ft in 2017, then increased to Rs 2,700 per sq.ft in 2023, and finally to Rs 2,950 per sq.ft in 2024.

What is the land classification of Aravind Avenue?

Aravind Avenue is classified as Residential Special Type - II.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for property in Aravind Avenue?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 29,50,000 would incur a stamp duty of Rs 2,06,500 at 7%.