Guideline Value for FRIENDS AVENUE

Friends Avenue guideline value

The current guideline value of Friends Avenue is Rs 3,450 per sq.ft, effective from 1 July 2024. This street is located in Kerugambakkam village, under the Pammal SRO, and is classified as Residential Special Type - II.

How the guideline value of Friends Avenue has changed

In the 2023 revision, the guideline value was set at Rs 3,135 per sq.ft. The most recent revision in 2024 has increased this value by 10%, bringing it to Rs 3,450 per sq.ft. There are no figures available for Friends Avenue in the revisions from 2002, 2003, 2007, 2012, and 2017.

The increase from 2023 to 2024 reflects a notable change in the guideline value, marking a significant adjustment in the pricing for this street. The current value is higher than the median guideline value of Rs 2,200 per sq.ft for the 144 streets in Kerugambakkam under the Pammal SRO.

Guideline values in Kerugambakkam

Kerugambakkam features a range of guideline values, with figures for 2024 ranging from Rs 1,100 to Rs 4,800 per sq.ft. Friends Avenue stands above the median value, indicating a relatively higher valuation compared to other streets in the village.

• E.V.R Periyar Street: Rs 1,980 per sq.ft (2024)
• Eswari Garden: Rs 1,980 per sq.ft (2024)
• Eswaran Koil Street: Rs 1,980 per sq.ft (2024)
• Gandhi Street: Rs 1,650 per sq.ft (2024)
• Easwari Nagar: Rs 1,980 per sq.ft (2024)
• Gangaiamman Koil Street: Rs 1,980 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 3,450 per sq.ft, the total guideline value amounts to Rs 34,50,000. The stamp duty at 7% would be Rs 2,41,500, and the registration fee at 2% would be Rs 69,000, making the total charges Rs 3,10,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Friends Avenue?

The Sub Registrar Office that covers Friends Avenue is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Kerugambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When purchasing or selling property, the guideline value is considered alongside the sale price. The higher of the two is used to calculate the applicable stamp duty, ensuring that the transaction complies with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Friends Avenue?

The current guideline value of Friends Avenue is Rs 3,450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Friends Avenue was Rs 3,135 per sq.ft in 2023 and has increased by 10% to Rs 3,450 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the classification of Friends Avenue?

Friends Avenue is classified as Residential Special Type - II, which indicates its intended use and zoning within the village of Kerugambakkam.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 34,50,000. The stamp duty is calculated at 7% and amounts to Rs 2,41,500, while the registration fee at 2% is Rs 69,000, totaling Rs 3,10,500.

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

The Sub Registrar Office covering Friends Avenue is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.