Guideline Value for Central Avenue Road

Central Avenue Road guideline value

The current guideline value of Central Avenue Road in Venkatapuram village is Rs 5,500 per sq.ft, effective from 1 July 2024. This property falls under the Adayar SRO and is classified as Residential Class II Type - I.

How the guideline value of Central Avenue Road has changed

The guideline value for Central Avenue Road has seen several revisions over the years. In 2002, the value was Rs 1,206 per sq.ft, which increased to Rs 1,297 per sq.ft in 2003. Following this, the value rose significantly to Rs 3,000 per sq.ft in 2007, and then to Rs 5,000 per sq.ft in 2012. However, it decreased to Rs 3,350 per sq.ft in 2017 before climbing to Rs 5,000 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 5,500 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 356%. The register has no figures for the years not mentioned, ensuring clarity in the historical pricing of this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that have a 2024 guideline value ranging from Rs 2,800 to Rs 15,400 per sq.ft. The median value is Rs 5,500 per sq.ft, which is equal to the current guideline value of Central Avenue Road.

• Central Avenue: Rs 5,500 per sq.ft (2024)
• Chinnamalai: Rs 8,300 per sq.ft (2024)
• Bishop Colony: Rs 8,300 per sq.ft (2024)
• Church Colony: Rs 4,400 per sq.ft (2024)
• Bharathi Street: Rs 2,800 per sq.ft (2024)
• Arokkiyamada Nagar: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Central Avenue Road

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, while the registration fee at 2% would be Rs 1,10,000. Together, these fees total Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Central Avenue Road?

The Sub Registrar Office that covers Central Avenue Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. For more information, you can find your SRO.

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

The guideline value is a crucial factor when registering property in Venkatapuram. It determines the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value based on the current market conditions.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all parties are aware of the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Central Avenue Road?

The current guideline value of Central Avenue Road is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,206 per sq.ft in 2002 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 356% over the years.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 55,00,000. The stamp duty is Rs 3,85,000 and the registration fee is Rs 1,10,000, totaling Rs 4,95,000.

Which office handles property registrations for Central Avenue Road?

The Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20, handles property registrations for Central Avenue Road.

What is the land classification for Central Avenue Road?

Central Avenue Road is classified as Residential Class II Type - I, indicating its suitability for residential development.