Guideline Value for Athivaradar Avenue Extension

Athivaradar Avenue Extension guideline value

The current guideline value of Athivaradar Avenue Extension is Rs 3,700 per sq.ft, effective from 1 July 2024. This street is located in Varadarajapuram village under the Padappai Sub Registrar Office (SRO), with a land classification of Mixed Type - II.

How the guideline value of Athivaradar Avenue Extension has changed

The guideline value for Athivaradar Avenue Extension has seen significant changes over the years. The 2017 revision set the value at Rs 2,250 per sq.ft, which increased to Rs 3,359 per sq.ft in the 2023 revision. The most recent revision in 2024 has further raised this value to Rs 3,700 per sq.ft, marking a 10% increase from the previous year. Notably, the overall increase from 2017 to 2024 is 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes between the revisions indicate a 49% increase from 2017 to 2023, reflecting a steady rise in the guideline value over the years.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 880 to Rs 4,100 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, placing Athivaradar Avenue Extension above this median.

• Athivaradar Avenue: Rs 3,700 per sq.ft (2024)
• Astalakshmi Nagar Extn I and II: Rs 1,650 per sq.ft (2024)
• Astalakshmi Nagar: Rs 1,650 per sq.ft (2024)
• Ashtalakshmi Nagar Extension - III: Rs 1,980 per sq.ft (2024)
• Ashok Nandavanam: Rs 1,980 per sq.ft (2024)
• Arunachalam Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Athivaradar Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,700 per sq.ft, the total guideline value would be Rs 37,00,000. The stamp duty at 7% would amount to Rs 2,59,000, and the registration fee at 2% would be Rs 74,000, bringing the total fees to Rs 3,33,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Athivaradar Avenue Extension?

The Sub Registrar Office that covers Athivaradar Avenue Extension is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering a property in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When you buy or sell property, the guideline value ensures that the transaction is recorded accurately and helps in maintaining transparency in property dealings. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Athivaradar Avenue Extension?

The current guideline value of Athivaradar Avenue Extension is Rs 3,700 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% to reach Rs 3,700 per sq.ft in 2024. The value rose from Rs 2,250 per sq.ft in 2017 to Rs 3,359 per sq.ft in 2023, and then by 10% in 2024.

What is the land classification for Athivaradar Avenue Extension?

The land classification for Athivaradar Avenue Extension is Mixed Type - II, which indicates the type of development and usage allowed in this area.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Athivaradar Avenue Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 37,00,000, the stamp duty would be Rs 2,59,000 at 7%.