Guideline Value for Kings Avenue

Kings Avenue guideline value

The current guideline value of Kings Avenue in Adayalampattu village is Rs 2,420 per sq.ft, effective from 1 July 2024. This falls under the Chennai South Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Kings Avenue has changed

The guideline value for Kings Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,200 per sq.ft in 2023, before reaching the current value of Rs 2,420 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for Kings Avenue in the years 2002, 2003, and 2007.

Guideline values in Adayalampattu

Adayalampattu village has a range of guideline values across its 19 streets under the Chennai South Joint II SRO, with values ranging from Rs 1,650 to Rs 3,850 per sq.ft. The median value is Rs 2,420 per sq.ft, which is the same as the current guideline value for Kings Avenue.

• Kulakkarai Street: Rs 2,420 per sq.ft (2024)
• Kambar Nagar 3rd Street: Rs 1,650 per sq.ft (2024)
• Kambar Nagar 2nd Street: Rs 1,650 per sq.ft (2024)
• Kambar Nagar 1st Street: Rs 1,650 per sq.ft (2024)
• MCK Nagar: Rs 2,420 per sq.ft (2024)
• Jaganatha Nagar: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Kings Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value amounts to Rs 24,20,000. The stamp duty at 7% would be Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total charges to Rs 2,17,800. The duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Kings Avenue?

Kings Avenue is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is crucial during property registration as it determines the stamp duty and registration fees applicable. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the costs involved in the transaction.

When a property is sold, the guideline value serves as a benchmark for determining the minimum price at which the property can be registered. This ensures that the transaction is officially documented and that the appropriate taxes are paid to the government.

Frequently asked questions

What is the current guideline value of Kings Avenue?

The current guideline value of Kings Avenue is Rs 2,420 per sq.ft, effective from 1 July 2024.

How often does the guideline value change?

The guideline value can change with each revision, which occurs periodically. Recent revisions have taken place in 2012, 2017, 2023, and 2024.

What was the guideline value in 2017?

The guideline value for Kings Avenue in 2017 was Rs 1,474 per sq.ft, which was a decrease from Rs 2,200 per sq.ft in 2012.

Where can I find my Sub Registrar Office?

You can find your Sub Registrar Office by visiting the relevant link provided for SRO information. Kings Avenue falls under the Chennai South Joint II SRO.

How is stamp duty calculated on property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. The current rate for stamp duty in this area is 7% of the guideline value.