Guideline Value for EAST AVENUE

East Avenue guideline value

The current guideline value of East 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 East Avenue has changed

The guideline value for East Avenue has seen significant changes over the years. In 2002, the value was Rs 1,262 per sq.ft, which increased to Rs 1,386 per sq.ft in 2003, marking a 10% rise. By 2007, the value jumped to Rs 2,000 per sq.ft, representing a 44% increase from the previous revision. The 2012 revision saw a substantial increase to Rs 7,000 per sq.ft, reflecting a 250% rise from 2007.

The most recent revision in 2024 set the guideline value at Rs 7,700 per sq.ft, indicating a 10% increase from the 2012 figure. Overall, from 2002 to 2024, the guideline value has risen by 510%. The register has no figures for the years 2017 and 2023 for this street.

Guideline values in Puliyur

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

• East Mada Street: Rs 5,300 per sq.ft (2024)
• Easwara Nagar 1st Street: Rs 4,600 per sq.ft (2024)
• Easwara Nagar 2nd Street: Rs 4,600 per sq.ft (2024)
• Easwara Nagar 3rd Street: Rs 6,300 per sq.ft (2024)
• Easwara Nagar 4th Street: Rs 4,600 per sq.ft (2024)
• Easwara Nagar 5th Street: Rs 4,600 per sq.ft (2024)

Stamp duty and registration fee for property in East Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total 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, bringing the total fees to Rs 6,93,000. 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 details.

Which Sub Registrar Office covers East Avenue?

The Sub Registrar Office covering East 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 crucial factor during the registration of property transactions. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on an official valuation of the property.

When buying or selling property in Puliyur, it is essential to be aware of the guideline value, as it impacts the overall cost of the transaction. Buyers should ensure that they are informed about the current rates to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of East Avenue?

The current guideline value of East 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 increased from Rs 1,262 per sq.ft in 2002 to Rs 7,700 per sq.ft in 2024, marking an overall increase of 510% over the years.

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

The stamp duty for a property valued at Rs 77,00,000 would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles registrations for East Avenue?

The Kodambakkam Sub Registrar Office handles registrations for East Avenue, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for East Avenue?

East Avenue is classified as Commercial Class I Type - III, indicating its suitability for commercial activities.