Guideline Value for GRAND AVENUE

Grand Avenue guideline value

The current guideline value of Grand Avenue in Chinnakavanam 2 village, under the Ponneri SRO, is Rs 100 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Grand Avenue has changed

The guideline value for Grand Avenue has remained consistent in recent years. There are no figures available for the revisions in 2002, 2003, 2007, 2012, and 2017. The 2023 revision also recorded a guideline value of Rs 100 per sq.ft, which was carried forward to the 2024 revision.

From the 2023 to the 2024 revision, there was no change in the guideline value, maintaining a rate of Rs 100 per sq.ft. This consistency reflects the stability in the guideline value for this street over the last two years.

Guideline values in Chinnakavanam 2

In Chinnakavanam 2, there are six streets under the Ponneri SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft. The median guideline value for these streets is also Rs 100 per sq.ft, placing Grand Avenue at the same level as the median.

• Green Park: Rs 100 per sq.ft (2024)
• Jansi Co-Operative Nagar: Rs 100 per sq.ft (2024)
• R.K. Nagar: Rs 100 per sq.ft (2024)
• Sai City: Rs 100 per sq.ft (2024)
• Sri Ganapathy Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Grand Avenue

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

For more accurate calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Grand Avenue?

The Grand Avenue falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. For more information, you can find your SRO.

How the guideline value is used when you buy or sell in Chinnakavanam 2

The guideline value plays a crucial role during the registration of property transactions in Chinnakavanam 2. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property in the area.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the value of the property being transacted.

Frequently asked questions

What is the current guideline value of Grand Avenue?

The current guideline value of Grand Avenue is Rs 100 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Grand Avenue has remained at Rs 100 per sq.ft for both the 2023 and 2024 revisions. There are no figures available for the revisions from 2002 to 2017.

What is the median guideline value for streets in Chinnakavanam 2?

The median guideline value for the streets in Chinnakavanam 2 is Rs 100 per sq.ft, which is the same as the guideline value for Grand Avenue.

What are the stamp duty rates for properties in Grand Avenue?

The stamp duty for properties in Grand Avenue is charged at 7% of the guideline value or the sale price, whichever is higher. Registration fees are charged at 2% of the guideline value.

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

The Sub Registrar Office covering Grand Avenue is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find more details by visiting the relevant link.