Guideline Value for GMR AVENUE

Gmr Avenue guideline value

The current guideline value of Gmr Avenue, located in Paandoor village under the Thiruporur SRO, is Rs 600 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Gmr Avenue has changed

The guideline value for Gmr Avenue has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 600 per sq.ft, which remained unchanged until the 2017 revision when it was reduced to Rs 402 per sq.ft. This change marked a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 600 per sq.ft. The 2023 revision maintained this rate, and there was no change from 2023 to 2024, keeping the value at Rs 600 per sq.ft.

It is worth noting that the guideline value register does not have figures for the years 2002, 2003, and 2007 for Gmr Avenue. Overall, from 2012 to 2024, the guideline value has remained stable, showing an overall change of 0%.

Guideline values in Paandoor

In Paandoor, there are 35 streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 450 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,493 per sq.ft, which indicates that Gmr Avenue's 2024 guideline value is below this median.

• Jai Avenue: Rs 1,493 per sq.ft (2024)
• Dr. Apj Abdul Kalam Nagar: Rs 805 per sq.ft (2024)
• Cosmo City: Rs 1,614 per sq.ft (2024)
• Bavisha Gardens: Rs 1,493 per sq.ft (2024)
• KPN Blue Sky: Rs 1,614 per sq.ft (2024)
• Krishna Enclave: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Gmr Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, making the total fees Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Gmr Avenue?

The Sub Registrar Office that covers Gmr 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 further assistance.

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

The guideline value is a crucial factor in the registration process of property transactions in Paandoor. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory when buying or selling property.

When a property is registered, the guideline value is checked to determine the applicable fees. If the sale price is higher than the guideline value, the fees are calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Gmr Avenue?

The current guideline value of Gmr Avenue is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most significant being a reduction to Rs 402 per sq.ft in 2017 and a return to Rs 600 per sq.ft in 2023, which has remained unchanged into 2024.

What is the land classification for Gmr Avenue?

The land classification for Gmr Avenue is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for property in Gmr Avenue?

For a property valued at Rs 6,00,000, the stamp duty would be Rs 42,000 and the registration fee would be Rs 12,000, totaling Rs 54,000 in fees.

Which office handles property registration for Gmr Avenue?

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