Guideline Value for EMPIRE AVENUE

Empire Avenue guideline value

The current guideline value of Empire Avenue is Rs 626 per sq.ft, effective from 1 July 2024. This street is located in Kakkalur village under the Tiruvallur Joint 1 SRO and is classified as Residential Class II Type - III.

How the guideline value of Empire Avenue has changed

In the 2012 revision, the guideline value was Rs 625 per sq.ft. It then decreased to Rs 419 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 626 per sq.ft. The 2023 revision also maintained this value into 2024, resulting in no percentage change.

The register has no figures for the years 2002, 2003, and 2007 regarding this street. Therefore, the only revisions recorded are for 2012, 2017, 2023, and 2024.

Guideline values in Kakkalur

Kakkalur village has a total of 133 streets under the Tiruvallur Joint 1 SRO, with guideline values ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value is Rs 626 per sq.ft, which is equal to the current value of Empire Avenue.

• Empire City Part-I -To -IV: Rs 626 per sq.ft (2024)
• Gaingai Main Street/ Street: Rs 626 per sq.ft (2024)
• Ganapathy Street: Rs 626 per sq.ft (2024)
• Ganesh Vista Nagar: Rs 626 per sq.ft (2024)
• Dhanraja Nagar: Rs 626 per sq.ft (2024)
• Gangai Street: Rs 626 per sq.ft (2024)

Stamp duty and registration fee for property in Empire Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 626 per sq.ft, the total guideline value amounts to Rs 6,26,000. The stamp duty is calculated at 7%, which is Rs 43,820, and the registration fee at 2% is Rs 12,520. Therefore, the total cost for stamp duty and registration fee together is Rs 56,340. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Empire Avenue?

The Sub Registrar Office that covers Empire Avenue is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kakkalur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for legal documentation. Buyers and sellers must be aware of this value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Empire Avenue?

The current guideline value of Empire Avenue is Rs 626 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 625 per sq.ft in 2012 to Rs 419 per sq.ft in 2017, then increased to Rs 626 per sq.ft in 2023 and maintained the same value in 2024.

What is the land classification for Empire Avenue?

Empire Avenue is classified as Residential Class II Type - III, indicating its suitability for residential use within the Kakkalur area.

What are the stamp duty and registration fees for properties in Empire Avenue?

For a property valued at Rs 6,26,000, the stamp duty is Rs 43,820, and the registration fee is Rs 12,520, totaling Rs 56,340.

Where is the Sub Registrar Office for Empire Avenue located?

The Tiruvallur Joint 1 Sub Registrar Office is located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.