Guideline Value for Grace Avenue

Grace Avenue guideline value

The current guideline value of Grace Avenue in Kovilpathagai village is Rs 1,200 per sq.ft, effective from 1 July 2024. This area falls under the Ambattur Sub Registrar Office and is classified as Residential Special Type - I.

How the guideline value of Grace Avenue has changed

The guideline value for Grace Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which was then reduced to Rs 737 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,100 per sq.ft in 2023, and it has now risen to Rs 1,200 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. When comparing the 2012 figure of Rs 1,100 per sq.ft to the current 2024 figure, there is an overall increase of 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO with a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft. The median guideline value for these streets is Rs 870 per sq.ft, placing Grace Avenue's 2024 figure above that median.

• Govinda Swami Street: Rs 806 per sq.ft (2024)
• Gopal Street: Rs 806 per sq.ft (2024)
• Hari Krishna Nagar: Rs 806 per sq.ft (2024)
• Hari Krishna Nagar Balaji Avenue: Rs 806 per sq.ft (2024)
• Hari Krishna Nagar M.R.P. Avenue: Rs 806 per sq.ft (2024)
• Golden star Nagar: Rs 805 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 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. Please note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Grace Avenue?

The Ambattur Sub Registrar Office covers Grace Avenue, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an important factor in property transactions as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees applicable to the transaction.

It is essential for buyers and sellers to be aware of the guideline value, as it affects the overall cost of the transaction. The guideline value ensures transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Grace Avenue?

The current guideline value of Grace Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the land classification for Grace Avenue?

Grace Avenue is classified as Residential Special Type - I under the current guidelines.

Where can I find the Ambattur Sub Registrar Office?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur - 600 053, Chennai registration zone.

How is stamp duty calculated for properties in Grace Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 at 7%.