Guideline Value for ENGINEERING AVENUE 1 TO 5 STREETS

Engineering Avenue 1 To 5 Streets guideline value

The current guideline value for Engineering Avenue 1 To 5 Streets in S. Kullathur village is Rs 2,750 per sq.ft, effective from 1 July 2024. This falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Engineering Avenue 1 To 5 Streets has changed

In 2012, the guideline value for Engineering Avenue 1 To 5 Streets was set at Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 1,675 per sq.ft, marking a decline of 33%. The 2023 revision saw a significant increase to Rs 2,500 per sq.ft, followed by a further rise to Rs 2,750 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to 2023, there was a notable increase of 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 S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median value is Rs 2,750 per sq.ft, which is equal to the guideline value for Engineering Avenue 1 To 5 Streets.

• Easwaran Koil Street: Rs 2,530 per sq.ft (2024)
• Gandhi Nagar 1 To 24 Streets: Rs 2,530 per sq.ft (2024)
• Gandhi Nagar 1 To 3 Main Road: Rs 2,530 per sq.ft (2024)
• Gandhi Nagar 1 To 4 Cross Street: Rs 2,750 per sq.ft (2024)
• Dillibabu Nagar: Rs 2,750 per sq.ft (2024)
• Devi Karumariamman Nagar 1 & 2 Main Road: Rs 2,530 per sq.ft (2024)

Stamp duty and registration fee for property in Engineering Avenue 1 To 5 Streets

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Engineering Avenue 1 To 5 Streets?

The Engineering Avenue 1 To 5 Streets are covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

You can find your SRO for more details.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value is a crucial factor in property transactions within S. Kullathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to consider the guideline value as it influences the overall cost of the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, but the higher of the two will be used for calculating applicable fees.

Frequently asked questions

What is the current guideline value for Engineering Avenue 1 To 5 Streets?

The current guideline value for Engineering Avenue 1 To 5 Streets is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Engineering Avenue 1 To 5 Streets?

Engineering Avenue 1 To 5 Streets is classified as Residential Class I Type - I according to the guidelines set by the Pallavaram SRO.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 2,47,500.

Where can I find the Sub Registrar Office for Engineering Avenue 1 To 5 Streets?

The Pallavaram Sub Registrar Office covers Engineering Avenue 1 To 5 Streets and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.