Guideline Value for J.K Avenue

J.K Avenue guideline value

The current guideline value of J.K Avenue is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village, under the Padappai SRO, and falls under the Commercial Class I Type - I land classification.

How the guideline value of J.K Avenue has changed

The guideline value for J.K Avenue has seen significant changes over the years. In 2012, the value was Rs 3,600 per sq.ft, which then decreased to Rs 2,412 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased substantially to Rs 3,600 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has set the guideline value at Rs 3,960 per sq.ft, representing a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, when comparing the 2012 and 2024 figures, J.K Avenue has experienced a 10% increase in guideline value.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of J.K Avenue is above this median, indicating a higher valuation compared to many other streets in the area.

• Jeeva Theru: Rs 2,310 per sq.ft (2024)
• Kaanaan Avenue: Rs 3,960 per sq.ft (2024)
• Kagapujanthkar Nagar: Rs 2,640 per sq.ft (2024)
• Kailash Avenue: Rs 2,300 per sq.ft (2024)
• Kailash Avenue and Extn: Rs 2,310 per sq.ft (2024)
• Kaja Hayath Nagar: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in J.K Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty, calculated at 7%, would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total fees together to Rs 3,56,400. 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 J.K Avenue?

The Sub Registrar Office that covers J.K Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of J.K Avenue?

The current guideline value of J.K Avenue is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2012 to Rs 2,412 per sq.ft in 2017, then back to Rs 3,600 per sq.ft in 2023, and finally to Rs 3,960 per sq.ft in 2024.

What is the land classification of J.K Avenue?

J.K Avenue is classified as Commercial Class I Type - I.

Where can I find the registration office for J.K Avenue?

The registration office for J.K Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in J.K Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 3,960 per sq.ft, the stamp duty would be Rs 2,77,200.