Guideline Value for MAIN CITY

Main City guideline value

The current guideline value of Main City, Alathur village, under the Avadi SRO is Rs 330 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Main City has changed

The guideline value for Main City has undergone several revisions over the years. The 2012 revision recorded a value of Rs 300 per sq.ft, which then decreased to Rs 201 per sq.ft in the 2017 revision. Following that, the value increased significantly to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Alathur

In Alathur, there are 7 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 330 to Rs 420 per sq.ft, with the median being Rs 330 per sq.ft. The guideline value for Main City is equal to this median.

• Pakkam City: Rs 330 per sq.ft (2024)
• Pakkam City Phase I: Rs 330 per sq.ft (2024)
• Rajeswari Garden: Rs 420 per sq.ft (2024)
• Chaithanya Avenue Phase II: Rs 330 per sq.ft (2024)
• Chaithanya Avenue Phase I: Rs 330 per sq.ft (2024)
• Chaithanya Avenue: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Main City

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total cost for these fees to Rs 29,700. It is important to note that 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 Main City?

Main City is covered by the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Alathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must pay the applicable stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Main City?

The current guideline value of Main City, Alathur village, is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the land classification of Main City?

Main City is classified as Residential Class I Type - I, which indicates its suitability for residential development.

Where can I find the Sub Registrar Office for Main City?

The Avadi Sub Registrar Office covers Main City and is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000.