Guideline Value for FRIENDS AVENUE

Friends Avenue guideline value

The current guideline value of Friends Avenue is Rs 600 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - I.

How the guideline value of Friends Avenue has changed

The guideline value for Friends Avenue has undergone several revisions over the years. In 2007, the value was Rs 125 per sq.ft, which saw a significant increase to Rs 600 per sq.ft in 2012, marking a rise of 380%. However, in 2017, the value decreased to Rs 402 per sq.ft, a drop of 33%. The 2023 revision maintained the value at Rs 600 per sq.ft, and the same value continued into the 2024 revision, indicating no change.

In summary, from 2017 to 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has increased by 380%. It is important to note that the register has no figures for Friends Avenue for the years 2002 and 2003.

Guideline values in Kolathur

In Kolathur village, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft, with a median value of Rs 600 per sq.ft. Friends Avenue's 2024 guideline value aligns with this median.

• Ganesh Gardens: Rs 800 per sq.ft (2024)
• Easwaran Nagar Phase-II: Rs 600 per sq.ft (2024)
• Easwaran Nagar: Rs 600 per sq.ft (2024)
• Gomathi Amman Nagar Annex: Rs 600 per sq.ft (2024)
• Gomathi Amman Nagar Annex- I: Rs 600 per sq.ft (2024)
• Green Hill Avenue: Rs 850 per sq.ft (2024)

Stamp duty and registration fee for property in Friends Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total cost for these fees to Rs 54,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Friends Avenue?

The Sub Registrar Office that covers Friends Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor when registering property in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value helps in assessing the minimum value at which the property can be registered. This ensures that the government receives appropriate revenue from property transactions, reflecting the current market conditions.

Frequently asked questions

What is the current guideline value of Friends Avenue?

The current guideline value of Friends Avenue is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Friends Avenue has changed several times, starting from Rs 125 per sq.ft in 2007 to Rs 600 per sq.ft in 2012, then decreasing to Rs 402 per sq.ft in 2017, and finally returning to Rs 600 per sq.ft in 2023 and 2024.

What is the land classification of Friends Avenue?

Friends Avenue is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Friends Avenue?

The Sub Registrar Office for Friends Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property in Friends Avenue?

The stamp duty for property in Friends Avenue is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a 1,000 sq.ft plot at the guideline value of Rs 600 per sq.ft, the total stamp duty would be Rs 42,000.