Guideline Value for GRP AVENUE

Grp Avenue guideline value

The current guideline value of Grp Avenue in Uthandi village, under the Neelankarai SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is classified as Residential Class III Type - I.

How the guideline value of Grp Avenue has changed

The guideline value for Grp Avenue has seen several revisions over the years. In 2012, the value was Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Uthandi

In Uthandi, there are 197 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 14,700 per sq.ft. The median guideline value in this area is Rs 1,700 per sq.ft, indicating that Grp Avenue's 2024 figure is below this median.

• Guna Seelan Garden: Rs 1,100 per sq.ft (2024)
• Gowri Chandran Garden: Rs 1,100 per sq.ft (2024)
• Govind Ram Garden: Rs 1,100 per sq.ft (2024)
• Hasaaranbi/Hasan Moulana Garden: Rs 1,100 per sq.ft (2024)
• Imrankhan Garden: Rs 1,100 per sq.ft (2024)
• Gnanasekaran Thottam: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Grp Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the guideline value totals Rs 11,00,000. The stamp duty at 7% amounts to Rs 77,000, while the registration fee at 2% is Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Grp Avenue?

The Sub Registrar Office that covers Grp 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 Uthandi

The guideline value is a crucial factor when registering property transactions in Uthandi. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is essential for legal documentation and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Grp Avenue?

The current guideline value of Grp Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024.

What is the land classification for Grp Avenue?

Grp Avenue is classified as Residential Class III Type - I, indicating its designation for residential purposes.

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

For a property valued at Rs 11,00,000, the stamp duty is Rs 77,000 and the registration fee is Rs 22,000, totaling Rs 99,000.

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

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