Guideline Value for CHANDRA AVENUE

Chandra Avenue guideline value

The current guideline value of Chandra Avenue is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Vichoor village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Chandra Avenue has changed

The guideline value for Chandra Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which was then reduced to Rs 268 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 400 per sq.ft, and the most recent 2024 revision raised it further to Rs 440 per sq.ft, marking a 10% increase from the previous year.

In summary, the changes from the 2017 revision to 2023 saw a significant increase of 49%, while the overall change from 2012 to 2024 reflects a modest increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vichoor

In Vichoor village, there are 45 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 550 per sq.ft. The median guideline value for these streets is Rs 485 per sq.ft, placing Chandra Avenue's 2024 figure below that median.

• Chandra Nagar: Rs 440 per sq.ft (2024)
• Bhoobalan Nagar: Rs 330 per sq.ft (2024)
• Eswaran Koil Street: Rs 440 per sq.ft (2024)
• Ezhil Nagar: Rs 485 per sq.ft (2024)
• F D Nagar: Rs 550 per sq.ft (2024)
• Ganapathi Nagar: Rs 485 per sq.ft (2024)

Stamp duty and registration fee for property in Chandra Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total cost for these fees Rs 39,600. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Chandra Avenue?

The Sub Registrar Office that covers Chandra Avenue is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the property registration process in Vichoor. It serves as a benchmark for determining the minimum value of a property for the purpose of calculating stamp duty and registration fees. Buyers and sellers should be aware of the guideline value to ensure compliance with the registration requirements.

When a property is sold, the guideline value helps in assessing the transaction's value for taxation purposes. It is essential that both parties are informed about the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Chandra Avenue?

The current guideline value of Chandra Avenue is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification for Chandra Avenue?

Chandra Avenue is classified as Residential Class I Type - II under the Thiruvottiyur SRO.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is the stamp duty calculated for properties in Chandra Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 440 per sq.ft would incur a stamp duty of Rs 30,800.