Guideline Value for Hutsan Avenue

Hutsan Avenue guideline value

The current guideline value of Hutsan Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Velachery village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Hutsan Avenue has changed

In the 2012 revision, the guideline value for Hutsan Avenue was Rs 5,000 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 5,000 per sq.ft. However, with the 2024 revision, the guideline value increased to Rs 5,500 per sq.ft, reflecting a change of +10% from the previous year.

Overall, from the 2012 revision to the 2024 revision, there has been a total increase of +10%. The register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 3,300 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. Hutsan Avenue's 2024 guideline value of Rs 5,500 per sq.ft is above this median.

• Housing Board Society Colony (Slum Board): Rs 3,850 per sq.ft (2024)
• Indira Gandhi Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Indira Gandhi Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Indira Gandhi Nagar 3rd Street: Rs 3,850 per sq.ft (2024)
• Indira Gandhi Nagar 4th Street: Rs 3,850 per sq.ft (2024)
• Indira Gandhi Nagar 5th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Hutsan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, totaling Rs 4,95,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Hutsan Avenue?

The Sub Registrar Office that covers Hutsan Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Velachery. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in property transactions, it is essential to be aware of the current guideline value as it affects the overall cost of the transaction. Buyers and sellers should ensure they are informed about these values to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Hutsan Avenue?

The current guideline value of Hutsan Avenue is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Hutsan Avenue was Rs 5,000 per sq.ft in 2012 and remained the same in 2023. It increased to Rs 5,500 per sq.ft in the 2024 revision, reflecting a total increase of +10% from 2012 to 2024.

What is the land classification of Hutsan Avenue?

Hutsan Avenue is classified as Residential Class I Type - III, indicating its designation for residential purposes.

What are the stamp duty and registration fees for property in Hutsan Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 55,00,000. The stamp duty would be Rs 3,85,000, and the registration fee would be Rs 1,10,000, totaling Rs 4,95,000.

Which office handles registrations for Hutsan Avenue?

The Velacheri Sub Registrar Office handles registrations for Hutsan Avenue, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.