Guideline Value for Kamaraj Avenue School Road

Kamaraj Avenue School Road guideline value

The current guideline value for Kamaraj Avenue School Road in Pallipattu village, under the Adayar SRO, is Rs 9,400 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Kamaraj Avenue School Road has changed

The guideline value for Kamaraj Avenue School Road has seen significant changes over the years. Starting from Rs 993 per sq.ft in 2002, it increased to Rs 1,086 per sq.ft in 2003. The value then rose sharply to Rs 3,000 per sq.ft in 2007, followed by a substantial increase to Rs 8,500 per sq.ft in 2012. However, it decreased to Rs 5,695 per sq.ft in 2017. The value then climbed to Rs 8,500 per sq.ft in 2023 before reaching the current rate of Rs 9,400 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 11% from 2023 to 2024. The rise from 2017 to 2023 was 49%. Notably, there was a decrease of 33% from 2012 to 2017. The value surged by 183% from 2007 to 2012 and increased by 176% from 2003 to 2007. The increment from 2002 to 2003 was 9%. Overall, from 2002 to 2024, the guideline value has increased by 847%.

Guideline values in Pallipattu

Pallipattu village has a total of 72 streets under the Adayar SRO carrying a 2024 guideline value ranging from Rs 3,300 to Rs 15,400 per sq.ft. The median guideline value for these streets is Rs 9,400 per sq.ft, which is equal to the current value for Kamaraj Avenue School Road.

• Kamaraj Avenue 2nd Street: Rs 9,400 per sq.ft (2024)
• Kamaraj Avenue 1st Street: Rs 9,400 per sq.ft (2024)
• Kandasamy Naikkan Street: Rs 3,300 per sq.ft (2024)
• Justice V. Ramaswamy Road: Rs 9,400 per sq.ft (2024)
• Kanniyammal Kadai Street: Rs 3,300 per sq.ft (2024)
• Kasthuribai Nagar 1st Cross Street: Rs 9,400 per sq.ft (2024)

Stamp duty and registration fee for property in Kamaraj Avenue School Road

For a 1,000 sq.ft plot at the current guideline value of Rs 9,400 per sq.ft, the total guideline value amounts to Rs 94,00,000. The stamp duty at 7% would be Rs 6,58,000, and the registration fee at 2% would be Rs 1,88,000, bringing the total to Rs 8,46,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kamaraj Avenue School Road?

The Kamaraj Avenue School Road is covered by the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Pallipattu. It serves as a benchmark for determining the minimum value at which properties can be registered. When a property is sold, the registration office uses the guideline value to calculate stamp duty and registration fees, ensuring that the transaction is recorded accurately.

Buyers and sellers must be aware that the guideline value can influence the overall cost of property transactions. It is essential to consider this value when negotiating sale prices to ensure compliance with local regulations and to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Kamaraj Avenue School Road?

The current guideline value for Kamaraj Avenue School Road is Rs 9,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 993 per sq.ft in 2002 to Rs 9,400 per sq.ft in 2024, reflecting an overall increase of 847% over the years.

What is the land classification for Kamaraj Avenue School Road?

The land classification for Kamaraj Avenue School Road is Residential Special Type - I.

Where can I find the registration office for Kamaraj Avenue School Road?

The registration office for Kamaraj Avenue School Road is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is stamp duty calculated for properties in Pallipattu?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 94,00,000 would incur a stamp duty of Rs 6,58,000 at a rate of 7%.