Guideline Value for Friends Avenue

Friends Avenue guideline value

The current guideline value of Friends Avenue, located in Gooduvancheri village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - I land classification.

How the guideline value of Friends Avenue has changed

The guideline value for Friends Avenue has undergone several revisions over the years. The earliest recorded figure is from the 2017 revision, which was Rs 804 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,200 per sq.ft. The 2024 revision has maintained the same value of Rs 1,200 per sq.ft, indicating a 0% change from the previous year. The overall change from 2017 to 2024 shows an increase of 49%.

There are no recorded figures for Friends Avenue in the revisions from 2002, 2003, 2007, and 2012. The significant increase of 49% from 2017 to 2023 reflects the changes in guideline values over the years.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Friends Avenue's 2024 figure of Rs 1,200 per sq.ft is below this median.

• Ganapathi Nagar (S.No 38/5): Rs 1,500 per sq.ft (2024)
• E.V.K. Sampath Street: Rs 1,500 per sq.ft (2024)
• Ganapathypuram: Rs 2,001 per sq.ft (2024)
• Gandhi Nagar 3rd Street: Rs 2,001 per sq.ft (2024)
• Gandhi Street: Rs 2,001 per sq.ft (2024)
• Ellappa Avenue: Rs 1,200 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 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, making the total charges Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Friends Avenue?

The Friends Avenue area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Gooduvancheri. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that both buyers and sellers are aware of the financial implications of the sale. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Friends Avenue?

The current guideline value of Friends Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Friends Avenue has remained at Rs 1,200 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 804 per sq.ft in 2017.

What is the land classification of Friends Avenue?

Friends Avenue falls under the Residential Class I Type - I land classification, indicating its designation for residential use.

What are the registration fees for a property in Friends Avenue?

The registration fees for a property in Friends Avenue include a stamp duty of 7% and a registration fee of 2%, based on the guideline value or sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

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