Guideline Value for ATCHAYA AVENUE PHASE-I

Atchaya Avenue Phase-I guideline value

The current guideline value of Atchaya Avenue Phase-I is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Kattavakkam village, under the Walajabad Sub Registrar Office (SRO), and falls under the Residential Class I Type - I land classification.

How the guideline value of Atchaya Avenue Phase-I has changed

Over the years, the guideline value of Atchaya Avenue Phase-I has seen several revisions. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged until the 2024 revision. The 2017 revision saw a significant increase to Rs 268 per sq.ft, marking a 49% rise from the previous figure. However, the 2023 revision reverted back to Rs 400 per sq.ft, showing no change from the 2012 and 2024 values. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

From the 2012 revision to the 2017 revision, there was a decrease of 33%, but overall, the guideline value remained the same from 2012 to 2024, reflecting a 0% change. The current guideline value of Rs 400 per sq.ft is consistent with the 2024 median value for Kattavakkam.

Guideline values in Kattavakkam

Kattavakkam village has a total of 19 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 800 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which is equal to the guideline value of Atchaya Avenue Phase-I. The following are the other streets in Kattavakkam:

• Annai Kanyakumari Nagar & Annai Kanyakumari Nagar Extension: Rs 300 per sq.ft (2024)
• Akshaya Avenue: Rs 400 per sq.ft (2024)
• Iyappa Nagar: Rs 300 per sq.ft (2024)
• Jemi Golden City: Rs 350 per sq.ft (2024)
• Millenium Square Phase-I,II,III: Rs 400 per sq.ft (2024)
• Millennium Square Sector-IV: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Atchaya Avenue Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. It is important to note that the 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 Atchaya Avenue Phase-I?

The Sub Registrar Office that covers Atchaya Avenue Phase-I is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kattavakkam. It is used to determine the stamp duty and registration fees, which are mandatory costs associated with property transactions. Buyers and sellers must be aware of the guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount in taxes based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Atchaya Avenue Phase-I?

The current guideline value of Atchaya Avenue Phase-I is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2012 to 2024, with a significant increase from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023.

What is the land classification for Atchaya Avenue Phase-I?

Atchaya Avenue Phase-I falls under the Residential Class I Type - I land classification.

Where can I find the registration office for Atchaya Avenue Phase-I?

The registration office for Atchaya Avenue Phase-I is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kattavakkam?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the stamp duty would be calculated on Rs 4,00,000.