Guideline Value for Habeeb Avenue

Habeeb Avenue guideline value

The current guideline value of Habeeb Avenue is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Kandamangalam village, under the Sriperumpudur SRO, and is classified as Mixed Type - I land.

How the guideline value of Habeeb Avenue has changed

The guideline value for Habeeb Avenue has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 500 per sq.ft. However, in the 2017 revision, it decreased to Rs 335 per sq.ft. Following this, the 2023 revision brought the value back up to Rs 500 per sq.ft. The most recent revision in 2024 maintained this value at Rs 500 per sq.ft, indicating a 0% change from the previous year.

Overall, from 2012 to 2024, the guideline value for Habeeb Avenue shows no change, as it has remained at Rs 500 per sq.ft since the 2012 and 2024 revisions. The 2017 to 2023 period saw a significant increase of 49% from Rs 335 to Rs 500 per sq.ft.

Guideline values in Kandamangalam

In Kandamangalam village, there are 10 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 510 per sq.ft, with a median value of Rs 200 per sq.ft. Habeeb Avenue's current guideline value of Rs 500 per sq.ft is above this median.

• Inthalamman Koil Street: Rs 100 per sq.ft (2024)
• Kandamangalam Street: Rs 100 per sq.ft (2024)
• Dell city: Rs 510 per sq.ft (2024)
• Bajanai Koil Street: Rs 200 per sq.ft (2024)
• Bajanai Koil 4th Street: Rs 200 per sq.ft (2024)
• Bajanai Koil 3rd Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Habeeb Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total charges to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Habeeb Avenue?

The Sub Registrar Office covering Habeeb Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kandamangalam. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This value is essential for both buyers and sellers to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of Habeeb Avenue?

The current guideline value of Habeeb Avenue is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, with the most recent being Rs 500 per sq.ft in both 2023 and 2024. It decreased to Rs 335 per sq.ft in 2017 and was Rs 500 per sq.ft in 2012.

What is the land classification of Habeeb Avenue?

Habeeb Avenue is classified as Mixed Type - I land, which is a designation used for various types of land use in the area.

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

The Sub Registrar Office for Habeeb Avenue is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate stamp duty and registration fees during property transactions. It ensures that the property is registered at a fair value in the official records.