Guideline Value for EXCEL AVENUE

Excel Avenue guideline value

The current guideline value of Excel Avenue is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Erivakkam village under the Gooduvancheri SRO, classified as Residential Special Type - III.

How the guideline value of Excel Avenue has changed

The guideline value for Excel Avenue has seen several revisions over the years. The earliest recorded figure is from 2012, where the guideline value was Rs 500 per sq.ft. In 2017, this value decreased to Rs 335 per sq.ft, marking a decline of 33%. However, by 2023, the value increased significantly to Rs 500 per sq.ft, which remained unchanged in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has not changed, remaining at Rs 500 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Erivakkam

In Erivakkam, there are 19 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 2,000 per sq.ft. The median guideline value in the village is Rs 400 per sq.ft, placing Excel Avenue's 2024 figure above this median.

• Golden Avenue: Rs 300 per sq.ft (2024)
• Gopal Garden: Rs 400 per sq.ft (2024)
• Keerthana Nagar: Rs 300 per sq.ft (2024)
• K.K.R. Nagar: Rs 400 per sq.ft (2024)
• K.K.R Nagar Annex-II: Rs 300 per sq.ft (2024)
• Kousalya Nagar Phase III: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Excel Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, making the total Rs 45,000. 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 information.

Which Sub Registrar Office covers Excel Avenue?

The Sub Registrar Office that covers Excel Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Erivakkam. It serves as a benchmark for determining the appropriate stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is registered, the guideline value is used to calculate the stamp duty and registration fees based on the higher value between the guideline value and the sale price. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Excel Avenue?

The current guideline value of Excel Avenue is Rs 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 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023 and remained the same in 2024.

What is the median guideline value in Erivakkam?

The median guideline value in Erivakkam is Rs 400 per sq.ft, with Excel Avenue's current value being above this median.

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

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000 and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which office handles the registration for Excel Avenue?

The registration for Excel Avenue is handled by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.