Guideline Value for Green Gardens- 1st Avenue

Green Gardens- 1st Avenue guideline value

The current guideline value for Green Gardens- 1st Avenue is Rs 14,800 per sq.ft, effective from 1 July 2024. This property is located in Ayanavaram village, under the AnnaNagar SRO, with a land classification of Mixed Special Type - I.

How the guideline value of Green Gardens- 1st Avenue has changed

The guideline value for Green Gardens- 1st Avenue has seen several revisions over the years. In 2007, the value was Rs 13,500 per sq.ft, which remained unchanged until the 2012 revision, where it again recorded Rs 13,500 per sq.ft. However, in 2017, there was a significant decrease to Rs 9,045 per sq.ft. This was followed by a substantial increase to Rs 13,500 per sq.ft in 2023, and then a further rise to the current value of Rs 14,800 per sq.ft in 2024, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 10%. The changes between the revisions are as follows: from 2012 to 2017, there was a decrease of 33%, while the jump from 2017 to 2023 was 49%. The register does not have figures for the years 2002 and 2003 for this street.

Guideline values in Ayanavaram

Ayanavaram has a total of 369 streets under the AnnaNagar SRO, with 2024 guideline values ranging from Rs 2,700 to Rs 20,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, placing Green Gardens- 1st Avenue's current value above this median.

• Guruvappa MaistryStreet: Rs 4,900 per sq.ft (2024)
• Govindaraj Street,Chennai 82: Rs 4,400 per sq.ft (2024)
• Gopal Pillai Nagar: Rs 4,400 per sq.ft (2024)
• Gnanammal Garden: Rs 4,400 per sq.ft (2024)
• G.K.M. Colony, Chennai 82 & Streets: Rs 2,700 per sq.ft (2024)
• Gel. Coacher Street, Chennai 82: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Green Gardens- 1st Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 14,800 per sq.ft, the total guideline value amounts to Rs 1,48,00,000. The stamp duty, charged at 7%, would be Rs 10,36,000, while the registration fee at 2% would be Rs 2,96,000, bringing the total fees to Rs 13,32,000. 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 these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Green Gardens- 1st Avenue?

The Sub Registrar Office that covers Green Gardens- 1st Avenue is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ayanavaram. It is the benchmark value set by the government, which helps determine the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government collects the appropriate taxes on property transactions, maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of Green Gardens- 1st Avenue?

The current guideline value of Green Gardens- 1st Avenue is Rs 14,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the most recent increase from Rs 13,500 per sq.ft in 2023 to Rs 14,800 per sq.ft in 2024, marking a 10% rise.

What are the stamp duty rates for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Ayanavaram?

The Sub Registrar Office for Ayanavaram is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What other streets in Ayanavaram have guideline values?

Other streets in Ayanavaram have varying guideline values, with rates ranging from Rs 2,700 to Rs 20,000 per sq.ft. For instance, Guruvappa MaistryStreet has a guideline value of Rs 4,900 per sq.ft.