Guideline Value for Hi Fi AVENUE

Hi Fi AVENUE guideline value

The current guideline value of Hi Fi AVENUE in Pothur village is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Class I Type - I.

How the guideline value of Hi Fi AVENUE has changed

Over the years, the guideline value of Hi Fi AVENUE has experienced several revisions. The earliest recorded figure is from 2012, where the guideline value was Rs 500 per sq.ft. In 2017, it decreased to Rs 335 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, it significantly increased to Rs 500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 550 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no recorded figures for Hi Fi AVENUE in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pothur

Pothur village has a total of 98 streets under the Redhills SRO, with the 2024 guideline values ranging from Rs 330 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which is equal to the current value of Hi Fi AVENUE.

• Guru Raghavendra Nagar: Rs 550 per sq.ft (2024)
• Indhirani Nagar: Rs 550 per sq.ft (2024)
• Indra Nagar: Rs 440 per sq.ft (2024)
• Jagadeeswari Nagar Extn.: Rs 440 per sq.ft (2024)
• Jagedeswari Nagar: Rs 550 per sq.ft (2024)
• Jageshwari Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Hi Fi AVENUE

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty, calculated at 7%, would be Rs 38,500, while the registration fee at 2% would be Rs 11,000. Together, the total cost for stamp duty and registration fee would be Rs 49,500. It is essential to 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 Hi Fi AVENUE?

The Sub Registrar Office covering Hi Fi AVENUE is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Pothur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is registered, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Hi Fi AVENUE?

The current guideline value of Hi Fi AVENUE is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What are the other streets in Pothur with similar guideline values?

Other streets in Pothur with similar guideline values include Guru Raghavendra Nagar, Indhirani Nagar, Jagedeswari Nagar, and Jageshwari Nagar, all at Rs 550 per sq.ft in 2024.

What fees are associated with buying property in Hi Fi AVENUE?

The fees associated with buying property include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Hi Fi AVENUE?

The Sub Registrar Office for Hi Fi AVENUE is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.