Guideline Value for Kailash Avenue and Extn

Kailash Avenue and Extn guideline value

The current guideline value of Kailash Avenue and Extn is Rs 2,310 per sq.ft. This property is located in Perungalathur village, under the Padappai SRO, and is classified as Residential Class II Type - I.

How the guideline value of Kailash Avenue and Extn has changed

The guideline value for Kailash Avenue and Extn has undergone several revisions over the years. The 2012 revision set the value at Rs 2,100 per sq.ft, which decreased to Rs 1,407 per sq.ft in the 2017 revision. Subsequently, the value increased to Rs 2,100 per sq.ft in 2023 and further rose to Rs 2,310 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median value is Rs 2,310 per sq.ft, which is equal to the guideline value of Kailash Avenue and Extn.

• Kailash Avenue: Rs 2,300 per sq.ft (2024)
• Kaja Hayath Nagar: Rs 2,970 per sq.ft (2024)
• Kagapujanthkar Nagar: Rs 2,640 per sq.ft (2024)
• Kakkanji Street: Rs 1,980 per sq.ft (2024)
• Kaanaan Avenue: Rs 3,960 per sq.ft (2024)
• Kalaignar Salai: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Kailash Avenue and Extn

For a 1,000 sq.ft plot at the current guideline value, the total value would be Rs 23,10,000. The stamp duty at 7% would amount to Rs 1,61,700, and the registration fee at 2% would be Rs 46,200, making the total fees together Rs 2,07,900. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Kailash Avenue and Extn?

The Sub Registrar Office that covers Kailash Avenue and Extn 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 is a crucial factor in the registration process when buying or selling property in Perungalathur. It determines the minimum value at which a property can be registered, ensuring that the transaction is officially recorded and taxed appropriately.

When a buyer or seller approaches the registration office, the guideline value helps in calculating the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Kailash Avenue and Extn?

The current guideline value of Kailash Avenue and Extn is Rs 2,310 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,100 per sq.ft in 2012 to Rs 1,407 per sq.ft in 2017, then increased to Rs 2,100 per sq.ft in 2023, and finally to Rs 2,310 per sq.ft in 2024.

What is the land classification for Kailash Avenue and Extn?

Kailash Avenue and Extn is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2%. For a property valued at Rs 23,10,000, the total fees would be Rs 2,07,900.

Where is the Sub Registrar Office located for Kailash Avenue and Extn?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone, and it covers Kailash Avenue and Extn.