Guideline Value for GE AVENUE

Ge Avenue guideline value

The current guideline value of Ge Avenue, located in Kannivakkam village, is Rs 800 per sq.ft, effective from 1 July 2024. This property falls under the Thiruporur SRO and is classified as Commercial Class I Type - I.

How the guideline value of Ge Avenue has changed

Over the years, the guideline value for Ge Avenue has seen several revisions. The 2012 revision set the value at Rs 800 per sq.ft, which remained unchanged in the subsequent revisions of 2017 and 2023. The 2017 revision increased the value from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2012, marking a significant increase of 49%. However, between 2012 and 2017, there was a decrease of 33% in the guideline value. The current figure of Rs 800 per sq.ft in 2024 reflects no change from the 2023 revision.

The register does not contain figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 800 per sq.ft.

Guideline values in Kannivakkam

Kannivakkam village features 32 streets under the Thiruporur SRO, with 2024 guideline values ranging from Rs 450 to Rs 2,389 per sq.ft. The median value is Rs 1,050 per sq.ft, indicating that Ge Avenue's 2024 guideline value is below this median.

• Ge Geo City: Rs 605 per sq.ft (2024)
• Ge Green Land: Rs 800 per sq.ft (2024)
• Ge Mahathi Avenue II: Rs 800 per sq.ft (2024)
• Ge Swarnaboomi & Ge Swargaboomi: Rs 800 per sq.ft (2024)
• Ezhil Nagar: Rs 800 per sq.ft (2024)
• Dvr Sarathi Nagar Phase I: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Ge Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 800 per sq.ft, the total guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, bringing the total fees to Rs 72,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ge Avenue?

The Sub Registrar Office that covers Ge Avenue is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kannivakkam. It determines the stamp duty and registration fees that need to be paid, ensuring that the transaction is officially recorded and compliant with local regulations.

When a property is sold, the guideline value helps establish a baseline for the transaction value, which can affect the overall cost incurred by the buyer. It is essential for both buyers and sellers to be aware of the current guideline value to accurately assess the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Ge Avenue?

The current guideline value of Ge Avenue is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 800 per sq.ft since 2012, with significant changes occurring in 2017 when it increased from Rs 536 per sq.ft. The value has not changed from 2023 to 2024, reflecting stability in recent years.

What is the land classification for Ge Avenue?

Ge Avenue is classified as Commercial Class I Type - I, indicating its suitability for commercial developments.

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

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

How is the stamp duty calculated for properties in Kannivakkam?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 800 per sq.ft, the total guideline value would be Rs 8,00,000, resulting in a stamp duty of Rs 56,000.