Guideline Value for Alavandhar Avenue

Alavandhar Avenue guideline value

The current guideline value of Alavandhar Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - III.

How the guideline value of Alavandhar Avenue has changed

The guideline value of Alavandhar Avenue has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft. This figure remained until the 2017 revision, which saw a decrease to Rs 1,005 per sq.ft. However, the value rebounded significantly in 2023 to Rs 1,500 per sq.ft, and then increased again to Rs 1,650 per sq.ft in 2024, marking a 10% rise from the previous year.

Between the revisions, we see notable changes. From 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which aligns with the current guideline value of Alavandhar Avenue.

• Alavandar AvenueExt: Rs 3,850 per sq.ft (2024)
• Alex Street: Rs 1,650 per sq.ft (2024)
• Agaththiyar Street: Rs 1,650 per sq.ft (2024)
• Agananuru Street: Rs 1,650 per sq.ft (2024)
• Advocate Janakiraman Street: Rs 1,650 per sq.ft (2024)
• Advocate Colony Ramanaidu Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Alavandhar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Alavandhar Avenue?

The Sub Registrar Office that covers Alavandhar Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value plays a crucial role during the registration of property transactions in Chitlapakkam. It serves as the basis for calculating the stamp duty and registration fees, which are essential costs incurred during the buying or selling process.

When a property is sold, the guideline value is used to determine the official value of the property for registration purposes. Buyers and sellers should be aware that the stamp duty is levied on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Alavandhar Avenue?

The current guideline value of Alavandhar Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the median guideline value in Chitlapakkam?

The median guideline value for the streets in Chitlapakkam under the Tambaram Joint 1 SRO is Rs 1,650 per sq.ft, which is the same as the current value for Alavandhar Avenue.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 16,50,000. The stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations for Alavandhar Avenue?

The Tambaram Joint 1 Sub Registrar Office handles property registrations for Alavandhar Avenue, located at No.26, mes Road, East Tambaram, Chennai-600059.