Guideline Value for P R AVENUE

P R Avenue guideline value

The current guideline value of P R Avenue in Kayirambedu village is Rs 1,500 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Mixed Type - I land.

How the guideline value of P R Avenue has changed

The guideline value for P R Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 1,005 per sq.ft. However, from 2017 to the 2023 revision, there was a significant increase of 49%, bringing the value back to Rs 1,500 per sq.ft. The 2023 revision maintained this value, showing no change to the 2024 revision.

It is important to note that there are no figures available for P R Avenue in the revisions from 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has remained constant at Rs 1,500 per sq.ft.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft, with a median value of Rs 700 per sq.ft. The guideline value for P R Avenue is notably above this median.

• Pragathi Enclave Phase 2: Rs 700 per sq.ft (2024)
• Pragathi Enclave Phase 1: Rs 700 per sq.ft (2024)
• Pugazh Avenue: Rs 700 per sq.ft (2024)
• Purva Soukhyam Phase-C: Rs 1,600 per sq.ft (2024)
• Purva Soukhyam Phase-M: Rs 1,600 per sq.ft (2024)
• Ragavendra Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in P R Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, making the total cost for these fees Rs 1,35,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers P R Avenue?

P R Avenue is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process for property transactions in Kayirambedu. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, impacting the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of P R Avenue?

The current guideline value of P R Avenue is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,500 per sq.ft since the 2012 revision, dropped to Rs 1,005 per sq.ft in 2017, and returned to Rs 1,500 per sq.ft in 2023 and 2024.

What is the land classification of P R Avenue?

P R Avenue is classified as Mixed Type - I land under the Chengleput Joint II SRO.

What are the stamp duty rates for properties in P R Avenue?

The stamp duty for properties in P R Avenue is charged at 7% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for P R Avenue?

The Sub Registrar Office covering P R Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.