Guideline Value for CENTRAL AVENUE

Central Avenue guideline value

The current guideline value of Central Avenue in Puliyur village, under the Kodambakkam SRO, is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is classified as Commercial Class I Type - III.

How the guideline value of Central Avenue has changed

The guideline value for Central Avenue has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 1,262 per sq.ft. It increased to Rs 1,386 per sq.ft in 2003, marking a 10% rise. The 2007 revision saw a significant jump to Rs 2,000 per sq.ft, an increase of 44%. In 2012, the value was Rs 7,000 per sq.ft, which was a decrease of 33% from the previous revision. The 2017 revision brought the value back up to Rs 4,690 per sq.ft, reflecting a 49% increase. The 2023 revision set the value at Rs 7,000 per sq.ft, and the latest 2024 revision has increased it to Rs 7,700 per sq.ft, a 10% rise.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by 510%. There are no figures available for the revisions of other years for Central Avenue.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Central Avenue's 2024 figure above this median.

• Cental School Street (Gill Nagar): Rs 7,100 per sq.ft (2024)
• Chakrapani Street: Rs 7,100 per sq.ft (2024)
• Chakrapani Street Extension: Rs 7,100 per sq.ft (2024)
• Budha Street: Rs 7,100 per sq.ft (2024)
• BRINDAVAN STREET (West Mambalam): Rs 8,200 per sq.ft (2024)
• BRINDAVAN EXTENSION (West Mambalam): Rs 8,000 per sq.ft (2024)

Stamp duty and registration fee for property in Central Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, totaling Rs 6,93,000. It is important to note that 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 Central Avenue?

The Sub Registrar Office that covers Central Avenue is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the duties owed. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, ensuring that the registration reflects an accurate value for taxation purposes.

Frequently asked questions

What is the current guideline value of Central Avenue?

The current guideline value of Central Avenue is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,262 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 510% over the years.

What is the land classification for Central Avenue?

Central Avenue is classified as Commercial Class I Type - III, indicating its commercial significance in the area.

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

For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 6,93,000, based on the current guideline value of Rs 77,00,000.

Where is the Sub Registrar Office for Central Avenue located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.