Guideline Value for CLASSIC AVENUE

Classic Avenue guideline value

The current guideline value of Classic Avenue in Alavoor village, under the Walajabad SRO, is Rs 300 per sq.ft, effective from 1 July 2024. This classification falls under Residential Class I Type - I.

How the guideline value of Classic Avenue has changed

The guideline value for Classic Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 200 per sq.ft, which then increased to Rs 134 per sq.ft in 2017. However, from 2017 to 2023, the value saw a significant increase of 124%, bringing it back to Rs 300 per sq.ft. The 2023 revision maintained this value, and the 2024 revision also confirms the guideline value at Rs 300 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Classic Avenue. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 50%.

Guideline values in Alavoor

In Alavoor village, there are seven streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 600 per sq.ft. The median value among these streets is Rs 300 per sq.ft, which is equal to the guideline value of Classic Avenue.

• Dr.A.P.J.Abdul Kalam Nagar-Phase-I: Rs 600 per sq.ft (2024)
• Ishwaryam Garden Sumathi Ammal Nagar Ext-2: Rs 300 per sq.ft (2024)
• Lss Sai Nagar: Rs 400 per sq.ft (2024)
• S.B.K Avenue: Rs 600 per sq.ft (2024)
• Sumathi Ammal Nagar: Rs 300 per sq.ft (2024)
• Sumathi Ammal Nagar Ex-1: Rs 300 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 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty at 7% would be Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees to Rs 27,000. 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 detailed calculations.

Which Sub Registrar Office covers Classic Avenue?

The Sub Registrar Office that covers Classic Avenue is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Alavoor. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware that the guideline value may influence the overall cost of property transactions.

When registering a property, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Classic Avenue?

The current guideline value of Classic Avenue is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 300 per sq.ft in 2023 and remained the same in 2024.

What are the other streets in Alavoor with their guideline values?

Other streets in Alavoor have guideline values ranging from Rs 300 to Rs 600 per sq.ft. Classic Avenue's value is equal to the median value of Rs 300 per sq.ft.

What is the stamp duty for property in Classic Avenue?

The stamp duty for a property in Classic Avenue is 7% of the guideline value. For a 1,000 sq.ft plot, the stamp duty would amount to Rs 21,000.

Where is the Walajabad Sub Registrar Office located?

The Walajabad Sub Registrar Office is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. This office handles registrations for properties in Classic Avenue.