Guideline Value for CLASSIC AVENUE

Classic Avenue guideline value

The current guideline value of Classic Avenue in Pammathukulam village, under the Redhills SRO, is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - II land classification.

How the guideline value of Classic Avenue has changed

The guideline value for Classic Avenue has undergone several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 400 per sq.ft. This figure then decreased to Rs 268 per sq.ft in 2017, marking a decline of 33%. However, the value saw a significant increase to Rs 400 per sq.ft in 2023, and further rose to Rs 440 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pammathukulam

In Pammathukulam, there are 101 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 825 per sq.ft, with a median value of Rs 550 per sq.ft. Classic Avenue's guideline value of Rs 440 per sq.ft is below this median.

• Brindhavan Garden: Rs 510 per sq.ft (2024)
• Bismillah Golden City: Rs 660 per sq.ft (2024)
• Eswaran Nagar: Rs 825 per sq.ft (2024)
• Eswaran Nagar Annex - III: Rs 660 per sq.ft (2024)
• Eswaran Nagar Extension: Rs 825 per sq.ft (2024)
• Eswaran Nagar Extension-I: Rs 825 per sq.ft (2024)

Stamp duty and registration fee for property in Classic Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. 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 details.

Which Sub Registrar Office covers Classic Avenue?

The Sub Registrar Office covering Classic Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Pammathukulam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which the property can be registered. This value is essential for both buyers and sellers to understand the legal and financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Classic Avenue?

The current guideline value of Classic 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 seen several revisions: Rs 400 per sq.ft in 2012, Rs 268 per sq.ft in 2017, Rs 400 per sq.ft in 2023, and Rs 440 per sq.ft in 2024.

What is the land classification of Classic Avenue?

Classic Avenue is classified under Residential Class I Type - II land classification.

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

For a 1,000 sq.ft property at the current rate, the total stamp duty would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers the registration for Classic Avenue?

The Redhills Sub Registrar Office covers the registration for Classic Avenue, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.