Guideline Value for BLOSSOM AVENUE

Blossom Avenue guideline value

The current guideline value of Blossom Avenue in Veerapuram village is Rs 1,000 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Mixed Special Type - I.

How the guideline value of Blossom Avenue has changed

The guideline value for Blossom Avenue has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 300 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, representing a rise of 233%. However, by 2017, the value decreased to Rs 670 per sq.ft, a decline of 33%. The value then rose again to Rs 1,000 per sq.ft in 2023, remaining unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. The overall change from the 2007 revision to the current 2024 value is an increase of 233%. The revisions for 2002 and 2003 do not have figures recorded for this street.

Guideline values in Veerapuram

In addition to Blossom Avenue, there are other streets in Veerapuram under the Chengleput Joint II SRO. The guideline values for these streets are as follows:

• Silver Lake: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in Blossom Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, leading to a total cost of Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Blossom Avenue?

The Blossom Avenue area is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Veerapuram

The guideline value is a crucial factor in the registration process of property transactions in Veerapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When a property is sold, the guideline value is used to calculate the applicable stamp duty, which is charged at a percentage of either the guideline value or the sale price, depending on which is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Blossom Avenue?

The current guideline value of Blossom Avenue is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023 and 2024.

What is the registration office for Blossom Avenue?

The registration office for Blossom Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties on Blossom Avenue?

Stamp duty for properties on Blossom Avenue is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the stamp duty would be Rs 70,000 at the current guideline value.

Are there other streets with different guideline values in Veerapuram?

Yes, there are other streets in Veerapuram with different guideline values. For instance, Silver Lake has a guideline value of Rs 2,500 per sq.ft as of 2024.