Guideline Value for HEERA AVENUE

Heera Avenue guideline value

The current guideline value of Heera Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in S. Kullathur village under the Pallavaram SRO, classified as Commercial Class I Type - II.

How the guideline value of Heera Avenue has changed

The guideline value for Heera Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 4,000 per sq.ft in the 2023 revision, and then to Rs 4,400 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, the changes are as follows: from 2012 to 2017, there was a decrease of 33%, while from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in S. Kullathur

In S. Kullathur, there are 71 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 4,400 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Heera Avenue's 2024 figure above this median.

• Indirapuri 1 To 12 Streets: Rs 2,530 per sq.ft (2024)
• Gandhi Nagar 1 To 4 Cross Street: Rs 2,750 per sq.ft (2024)
• Gandhi Nagar 1 To 3 Main Road: Rs 2,530 per sq.ft (2024)
• Gandhi Nagar 1 To 24 Streets: Rs 2,530 per sq.ft (2024)
• Kakithapuram 1 To 5 Streets: Rs 4,400 per sq.ft (2024)
• Engineering Avenue 1 To 5 Streets: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Heera Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000. Together, the total cost for stamp duty and registration fee would be Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Heera Avenue?

The Sub Registrar Office that covers Heera Avenue is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in S. Kullathur

The guideline value is a crucial factor when registering property transactions in S. Kullathur. It determines the stamp duty and registration fees that buyers and sellers must pay during the registration process. The guideline value serves as a benchmark for assessing property transactions, ensuring that the government receives the appropriate revenue from property sales.

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 registration process is fair and transparent, reflecting the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Heera Avenue?

The current guideline value of Heera Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then back to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,400 per sq.ft in 2024.

What are the stamp duty and registration fees for Heera Avenue?

For a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 44,00,000. The stamp duty at 7% is Rs 3,08,000, and the registration fee at 2% is Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for Heera Avenue located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the land classification of Heera Avenue?

Heera Avenue is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.