Guideline Value for GLOBAL AVENUE

Global Avenue guideline value

The current guideline value of Global Avenue in Perumbakkam village is Rs 3,800 per sq.ft, effective from 1 July 2024. This property falls under the Selaiyur SRO and is classified as Residential Class I Type - V.

How the guideline value of Global Avenue has changed

Over the years, the guideline value of Global Avenue has seen significant changes. The 2017 revision recorded a guideline value of Rs 2,345 per sq.ft. This increased to Rs 3,505 per sq.ft in the 2023 revision, marking a 49% rise. The latest revision in 2024 shows a further increase to Rs 3,800 per sq.ft, which is an 8% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value is Rs 2,725 per sq.ft, and the guideline value for Global Avenue is above this median.

• Gengaiamman Koil Street: Rs 850 per sq.ft (2024)
• Gokul Nagar: Rs 3,300 per sq.ft (2024)
• Gokul Nagar 1st to 5th Cross street: Rs 3,300 per sq.ft (2024)
• Gokul Nagar 40 Feet Road: Rs 3,300 per sq.ft (2024)
• Golden Castle: Rs 2,725 per sq.ft (2024)
• Gandhi Nagar Society: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Global Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, making the total cost for these fees Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Global Avenue?

The Sub Registrar Office covering Global Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, 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 Perumbakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When registering a property, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Global Avenue?

The current guideline value of Global Avenue is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,800 per sq.ft in 2024, showing an overall increase of 62% over this period.

What is the median guideline value in Perumbakkam?

The median guideline value in Perumbakkam is Rs 2,725 per sq.ft for the year 2024. Global Avenue's value is above this median.

What are the registration fees for property in Global Avenue?

The registration fees for a property in Global 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 Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.