Guideline Value for Audco Nagar & phase1& phase 2

Audco Nagar & phase1& phase 2 guideline value

The current guideline value for Audco Nagar & phase1& phase 2 is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Chennerkuppam village under the Kunrathur SRO, classified as Residential Class I Type - II.

How the guideline value of Audco Nagar & phase1& phase 2 has changed

Over the years, the guideline value for Audco Nagar & phase1& phase 2 has seen significant changes. The 2007 revision set the value at Rs 450 per sq.ft, which increased to Rs 1,400 per sq.ft in 2012, marking a substantial increase of 211%. However, the value decreased to Rs 938 per sq.ft in 2017, reflecting a decline of 33%. The 2023 revision raised it to Rs 1,400 per sq.ft, and the most recent 2024 revision has set it at Rs 1,540 per sq.ft, representing a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2007 to 2024, there has been a total increase of 242%. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,895 per sq.ft. The guideline value for Audco Nagar & phase1& phase 2 matches the median value of Rs 1,540 per sq.ft. Below are the guideline values for other streets in Chennerkuppam:

• Avadi Road: Rs 4,620 per sq.ft (2024)
• Ayaan City: Rs 1,430 per sq.ft (2024)
• Ayaan City Phase-2: Rs 1,540 per sq.ft (2024)
• Astalakshmi Avenue phase 1, 2, 3: Rs 1,540 per sq.ft (2024)
• Ashtalakshmi Avenue Phase IV: Rs 4,105 per sq.ft (2024)
• Arunachalam Nagar: Rs 1,815 per sq.ft (2024)

Stamp duty and registration fee for property in Audco Nagar & phase1& phase 2

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, resulting in a total of Rs 1,38,600. 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 more detailed calculations.

Which Sub Registrar Office covers Audco Nagar & phase1& phase 2?

The Sub Registrar Office that covers Audco Nagar & phase1& phase 2 is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, within the Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Chennerkuppam. It serves as a benchmark to determine the minimum value at which properties can be sold or purchased, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the property transaction. This ensures that all transactions are transparent and adhere to the regulatory framework set by the government.

Frequently asked questions

What is the current guideline value for Audco Nagar & phase1& phase 2?

The current guideline value for Audco Nagar & phase1& phase 2 is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 450 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, marking an overall increase of 242% since 2007.

What are the stamp duty and registration fees for property in this area?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 15,40,000, the total fees would amount to Rs 1,38,600.

Which office handles property registration in Audco Nagar & phase1& phase 2?

The Kunrathur Sub Registrar Office handles property registration for Audco Nagar & phase1& phase 2, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and location. It is revised periodically to reflect changes in the real estate market.