Guideline Value for EXPRESS AVENUE

Express Avenue guideline value

The current guideline value for Express Avenue in Kondangi village is Rs 350 per sq.ft, effective from the 2024 revision. This area falls under the Thiruporur SRO and is classified as Residential Special Type - III.

How the guideline value of Express Avenue has changed

In the 2012 revision, the guideline value was set at Rs 350 per sq.ft. This value remained unchanged until the 2017 revision, where it decreased to Rs 234 per sq.ft, marking a -33% change. Following this, the 2023 revision saw a significant increase of 50%, bringing the value back to Rs 350 per sq.ft.

The 2024 revision has maintained the guideline value at Rs 350 per sq.ft, showing no change from the previous year. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street in the register.

Guideline values in Kondangi

In Kondangi, four streets under the Thiruporur SRO have a 2024 guideline value ranging from Rs 350 to Rs 400 per sq.ft, with a median value of Rs 375 per sq.ft. The guideline value for Express Avenue is below this median.

• Nikathan Paulsn Hill Front: Rs 400 per sq.ft (2024)
• Sree Thirumaal Nagar: Rs 400 per sq.ft (2024)
• Unique Township: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Express Avenue

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. 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 Express Avenue?

The Express Avenue is covered by the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor during property registration in Kondangi. It determines the stamp duty and registration fees that buyers must pay, ensuring that the transaction is recorded accurately in the government records.

When selling a property, the guideline value can affect the perceived value of the property. Buyers and sellers should be aware of the current guideline value to ensure that they are making informed decisions during the transaction process.

Frequently asked questions

What is the current guideline value of Express Avenue?

The current guideline value of Express Avenue is Rs 350 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a decrease to Rs 234 per sq.ft in 2017, followed by an increase back to Rs 350 per sq.ft in 2023 and remaining the same in 2024.

What is the land classification for Express Avenue?

Express Avenue is classified as Residential Special Type - III, indicating its intended use for residential purposes.

Where can I find the Thiruporur Sub Registrar Office?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Express Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at Rs 350 per sq.ft incurs a total stamp duty and registration fee of Rs 31,500.