Guideline Value for Hemanathapillai Avenue 1

Hemanathapillai Avenue 1 guideline value

The current guideline value of Hemanathapillai Avenue 1 is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village under the Pallavaram SRO, and the land classification is Mixed Type - II.

How the guideline value of Hemanathapillai Avenue 1 has changed

The guideline value for Hemanathapillai Avenue 1 has seen significant revisions over the years. In 2003, the value was Rs 282 per sq.ft, which increased to Rs 600 per sq.ft in 2007. The value then rose dramatically to Rs 4,000 per sq.ft in 2012, marking a 567% increase from the previous revision. However, it decreased to Rs 2,680 per sq.ft in 2017, a decline of 33%. The value was Rs 4,000 per sq.ft in 2023, and it has now increased to Rs 4,400 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2003 to 2024, the guideline value has increased by 1460%. The register has no figure for Hemanathapillai Avenue 1 for the year 2002.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Hemanathapillai Avenue 1's 2024 figure is above this median.

• Hemanatha Pillai Avenue Ramlingar Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha 1ST Cross Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha 2ND Cross Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha Cross Street: Rs 3,850 per sq.ft (2024)
• Hussian Basha Street: Rs 3,850 per sq.ft (2024)
• I.H.F.D. Colony: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Hemanathapillai Avenue 1

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, totaling Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hemanathapillai Avenue 1?

The Sub Registrar Office that covers Hemanathapillai Avenue 1 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 details.

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

The guideline value is an important factor when registering property transactions in Issa Pallavaram. It is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in property dealings. Buyers should be aware that the duty is charged on the higher of the guideline value or the sale price.

Frequently asked questions

What is the current guideline value of Hemanathapillai Avenue 1?

The current guideline value of Hemanathapillai Avenue 1 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 282 per sq.ft in 2003 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1460% over this period.

What is the median guideline value in Issa Pallavaram?

The median guideline value in Issa Pallavaram is Rs 3,300 per sq.ft, with Hemanathapillai Avenue 1's value being above this median.

What fees are associated with buying property in Hemanathapillai Avenue 1?

When buying property in Hemanathapillai Avenue 1, buyers should expect to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Hemanathapillai Avenue 1?

The Sub Registrar Office for Hemanathapillai Avenue 1 is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.