Guideline Value

Corporate

Guideline Value for BAAZ AVENUE/FAZIL AVENUE

₹6100/sq.ft.

The guideline value for Baaz Avenue/fazil Avenue in Palavakkam village (Neelankarai SRO, Chennai zone) is Rs 6100 per sq.ft, effective 1 July 2024. It was Rs 5500 per sq.ft from 1 April 2023, a 11% change. The land classification is Residential Special Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Palavakkam

Village

Neelankarai

SRO

Residential Special Type - II
History
Period Guideline Value
From 1-7-2024 ₹6100 /sq.ft.
From 1-4-2023 ₹5500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹3685 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹5500 /sq.ft.
From 1-8-2007 To 31-3-2012 N/A
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41
044-24490134
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Baaz Avenue/fazil Avenue

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Baaz Avenue/Fazil Avenue guideline value

The current guideline value of Baaz Avenue/Fazil Avenue is Rs 6,100 per sq.ft, effective from 1 July 2024. This street is located in Palavakkam village and falls under the Neelankarai SRO, classified as Residential Special Type - II.

How the guideline value of Baaz Avenue/Fazil Avenue has changed

The guideline value for Baaz Avenue/Fazil Avenue has seen several revisions over the years. In 2012, the guideline value was Rs 5,500 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 3,685 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 5,500 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the value at Rs 6,100 per sq.ft, reflecting an 11% 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.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, placing Baaz Avenue/Fazil Avenue's 2024 figure above this median.

Stamp duty and registration fee for property in Baaz Avenue/Fazil Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 6,100 per sq.ft, the total guideline value would be Rs 61,00,000. The stamp duty, charged at 7%, would amount to Rs 4,27,000, while the registration fee at 2% would be Rs 1,22,000. The total cost for these fees would be Rs 5,49,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Baaz Avenue/Fazil Avenue?

The Sub Registrar Office covering Baaz Avenue/Fazil Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Palavakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on the official values set by the government.

It is essential for buyers and sellers to be aware of the guideline value, as it directly influences the financial aspects of property transactions. Accurate knowledge of these values can help in understanding the total costs involved in buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Baaz Avenue/Fazil Avenue?

The current guideline value of Baaz Avenue/Fazil Avenue is Rs 6,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed over several revisions, from Rs 5,500 per sq.ft in 2012 to Rs 3,685 per sq.ft in 2017, then increasing to Rs 5,500 per sq.ft in 2023, and finally reaching Rs 6,100 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Baaz Avenue/Fazil Avenue?

For a property valued at Rs 61,00,000, the stamp duty is Rs 4,27,000 and the registration fee is Rs 1,22,000, totaling Rs 5,49,000. These fees are calculated based on the guideline value or sale price, whichever is higher.

Which Sub Registrar Office covers Baaz Avenue/Fazil Avenue?

The Neelankarai Sub Registrar Office covers Baaz Avenue/Fazil Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is significant as it determines the stamp duty and registration fees during property transactions. It ensures that these costs are based on official values set by the government, providing transparency in the buying and selling process.