Guideline Value for GRACE AVENUE

Grace Avenue guideline value

The current guideline value of Grace Avenue is Rs 400 per sq.ft. This street is located in Palur-A village under the Chengleput Joint II SRO, classified as Residential Special Type - I.

How the guideline value of Grace Avenue has changed

The guideline value for Grace Avenue has seen several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 268 per sq.ft. Following this, the 2023 revision maintained the same value of Rs 400 per sq.ft, and the 2024 revision also reflects Rs 400 per sq.ft, indicating no change from the previous year. There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2017 to 2024, the increase remains at 49%, with the current rate aligning with the median guideline value of Rs 400 per sq.ft for the area.

Guideline values in Palur-A

In Palur-A, there are 44 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 600 per sq.ft, with the median being Rs 400 per sq.ft. Grace Avenue's 2024 guideline value matches this median.

• Green City: Rs 400 per sq.ft (2024)
• Guna Nagar: Rs 400 per sq.ft (2024)
• Gangadaran Nagar: Rs 400 per sq.ft (2024)
• Ganapathy Nagar: Rs 400 per sq.ft (2024)
• Dps Nagar: Rs 400 per sq.ft (2024)
• Ceeon Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Grace Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total to Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Grace Avenue?

The Sub Registrar Office covering Grace Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Palur-A

The guideline value plays a crucial role in the registration process when buying or selling property in Palur-A. It is used to determine the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is often considered to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Grace Avenue?

The current guideline value of Grace Avenue is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Grace Avenue has remained at Rs 400 per sq.ft from 2023 to 2024, with a significant increase of 49% from Rs 268 per sq.ft in 2017.

What is the land classification of Grace Avenue?

Grace Avenue is classified as Residential Special Type - I under the Chengleput Joint II SRO.

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

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Grace Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 28,000.