Guideline Value for GEEYEM AVENUE

Geeyem Avenue guideline value

The current guideline value of Geeyem Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village under the Neelankarai SRO and is classified as Residential Class II Type - II.

How the guideline value of Geeyem Avenue has changed

The guideline value for Geeyem Avenue has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 3,000 per sq.ft. This was followed by a decrease to Rs 2,010 per sq.ft in the 2017 revision. The value saw a significant increase in the next revision, rising to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. However, the revision from 2012 to 2017 saw a decrease of 33%. Overall, comparing the years 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungudi

In Perungudi, there are 249 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Geeyem Avenue.

• Gandhi Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• Govindasamy Nagar 5th Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Geeyem Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Geeyem Avenue?

The Sub Registrar Office covering Geeyem Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Perungudi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated accurately based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Geeyem Avenue?

The current guideline value of Geeyem Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the land classification of Geeyem Avenue?

Geeyem Avenue is classified as Residential Class II Type - II.

What is the stamp duty rate for properties in Geeyem Avenue?

The stamp duty rate for properties in Geeyem Avenue is 7%, which is calculated based on the guideline value or the sale price, whichever is higher.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.