Guideline Value for GEETHANJALI FLATS (7TH AVENUE)

Geethanjali Flats (7th Avenue) guideline value

The current guideline value of Geethanjali Flats (7th Avenue) is Rs 13,100 per sq.ft, effective from 1 July 2024. This property is located in Padi village, under the Villivakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Geethanjali Flats (7th Avenue) has changed

Over the years, the guideline value for Geethanjali Flats (7th Avenue) has seen several revisions. The 2012 revision set the value at Rs 12,000 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 8,040 per sq.ft. The guideline value then rose to Rs 12,000 per sq.ft in 2023, before increasing by 9% to the current value of Rs 13,100 per sq.ft in 2024.

There are no figures available for the years 2002, 2003, and 2007 for this street. Comparing the revisions, the increase from 2017 to 2023 was 49%, and the overall change from 2012 to 2024 is a modest increase of 9%.

Guideline values in Padi

Padi village has a total of 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft in 2024. The median value for these streets is Rs 3,800 per sq.ft, positioning Geethanjali Flats (7th Avenue) above this median.

• Gem Flats (Mogappair Road): Rs 9,900 per sq.ft (2024)
• GOLDEN JUBLIEE APPARTMENTS (Padikuppam Road): Rs 6,600 per sq.ft (2024)
• GOODWILL APPARTMENTS (Mogappir Road): Rs 9,900 per sq.ft (2024)
• Gopal Naidu Nagar (G.N.Nagar): Rs 2,800 per sq.ft (2024)
• Gandhi Street: Rs 5,400 per sq.ft (2024)
• Gandhi Nagar: Rs 5,400 per sq.ft (2024)

Stamp duty and registration fee for property in Geethanjali Flats (7th Avenue)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,100 per sq.ft, the total guideline value amounts to Rs 1,31,00,000. The stamp duty at 7% would be Rs 9,17,000, while the registration fee at 2% would be Rs 2,62,000, bringing the total fees together to Rs 11,79,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Geethanjali Flats (7th Avenue)?

The Sub Registrar Office that covers Geethanjali Flats (7th Avenue) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Padi, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on the official valuation rather than the negotiated sale price.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. Understanding this value can help in making informed decisions regarding property transactions in the area.

Frequently asked questions

What is the current guideline value of Geethanjali Flats (7th Avenue)?

The current guideline value of Geethanjali Flats (7th Avenue) is Rs 13,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 12,000 per sq.ft in 2012 to Rs 8,040 per sq.ft in 2017, then back to Rs 12,000 per sq.ft in 2023, and finally to Rs 13,100 per sq.ft in 2024.

What is the land classification for Geethanjali Flats (7th Avenue)?

Geethanjali Flats (7th Avenue) is classified as Residential Special Type - I.

Where can I find the registration office for Geethanjali Flats (7th Avenue)?

The registration office for Geethanjali Flats (7th Avenue) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Padi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,31,00,000, the stamp duty would be Rs 9,17,000 at a rate of 7%.