Guideline Value for Kodhai Avenue

Kodhai Avenue guideline value

The current guideline value of Kodhai Avenue in Erandankattalai village is Rs 1,100 per sq.ft, effective from 1 July 2024. This area falls under the Pammal SRO and is classified as Residential Class I Type - I.

How the guideline value of Kodhai Avenue has changed

The guideline value for Kodhai Avenue has seen several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft. This was followed by a significant increase to Rs 1,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision reflects a further increase to Rs 1,100 per sq.ft, representing a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Erandankattalai

Within Erandankattalai, there are 60 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 770 to Rs 4,270 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which is equal to the guideline value of Kodhai Avenue.

• Kannan Avenue: Rs 1,100 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Maansarovar Nagar: Rs 4,270 per sq.ft (2024)
• Maansarovar Nagar Phase II: Rs 2,860 per sq.ft (2024)
• Madha Nagar: Rs 1,100 per sq.ft (2024)
• Kalaignar Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Kodhai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, while the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 Kodhai Avenue?

Kodhai Avenue is covered by the Pammal Sub Registrar Office located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Erandankattalai. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and fairly. Buyers and sellers should be aware that the guideline value can influence the overall cost involved in the registration process.

Frequently asked questions

What is the current guideline value of Kodhai Avenue?

The current guideline value of Kodhai Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Kodhai Avenue?

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

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Kodhai Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at a rate of 7%.