Guideline Value for Kings Avenue

Kings Avenue guideline value

The current guideline value of Kings Avenue in Kottaiyoor village is Rs 250 per sq.ft, effective from 1 July 2024. This falls under the Sunguvarchattram SRO and is classified as Residential Class I Type - I.

How the guideline value of Kings Avenue has changed

Looking at the revisions over the years, the guideline value for Kings Avenue has seen several changes. The 2012 revision set the value at Rs 250 per sq.ft, which remained unchanged in the 2017 revision. However, in the 2017 revision, the value was Rs 167 per sq.ft, marking a decrease of 33%. The 2023 revision brought the value back to Rs 250 per sq.ft, and the current 2024 revision has also maintained this figure, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained stable, reflecting a 0% change.

Guideline values in Kottaiyoor

Kottaiyoor village has 18 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 150 to Rs 900 per sq.ft. The median value is Rs 250 per sq.ft, which aligns with the guideline value of Kings Avenue.

• Kottaiyoor Colony: Rs 150 per sq.ft (2024)
• Kottaiyoor Colony Cross Street: Rs 150 per sq.ft (2024)
• Kullakarai Cross Street: Rs 200 per sq.ft (2024)
• Mariamman Kovil street: Rs 200 per sq.ft (2024)
• Indhira Nagar: Rs 150 per sq.ft (2024)
• Friends City Layout: Rs 200 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 250 per sq.ft, the total guideline value amounts to Rs 2,50,000. The stamp duty at 7% would be Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Kings Avenue?

Kings Avenue is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Kottaiyoor. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers should be aware that the guideline value may influence the overall cost of property transactions.

When registering a property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in real estate dealings. This value is essential for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Kings Avenue?

The current guideline value of Kings Avenue is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a decrease to Rs 167 per sq.ft in 2017, followed by a return to Rs 250 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, the value has remained stable.

What is the land classification for Kings Avenue?

Kings Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total guideline value is Rs 2,50,000, leading to a stamp duty of Rs 17,500 and a registration fee of Rs 5,000.

Which office handles registrations for Kings Avenue?

The registrations for Kings Avenue are handled by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu.