Guideline Value for P.M.A AVENUE

P.M.A Avenue guideline value

The current guideline value of P.M.A Avenue, located in Korattur village under the Villivakkam SRO, is Rs 1,600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - III.

How the guideline value of P.M.A Avenue has changed

The guideline value for P.M.A Avenue has undergone several revisions over the years. In 2002, the guideline value was Rs 73 per sq.ft, which increased to Rs 250 per sq.ft in 2007, marking a significant rise of 242%. The value remained at Rs 1,500 per sq.ft from 2012 until the 2023 revision, where it was again Rs 1,500 per sq.ft. The 2024 revision saw an increase to Rs 1,600 per sq.ft, reflecting a change of 7% from the previous year.

Notably, there are no figures available for the revisions in 2003 and 2017 for this street. Overall, from 2002 to 2024, the guideline value has increased by 2092%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a guideline value for 2024, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value in this area is Rs 2,500 per sq.ft, indicating that P.M.A Avenue's 2024 figure is below this median.

• Pillaiyar Koil Street (Kanchinakuppam): Rs 1,600 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 2,100 per sq.ft (2024)
• Perumal Nagar: Rs 1,600 per sq.ft (2024)
• Perumal Koil Street (Madhanakuppam): Rs 1,300 per sq.ft (2024)
• PERUMAL KOIL STREET (AGRAHARAM) 2nd STREET: Rs 2,500 per sq.ft (2024)
• PERUMAL KOIL STREET (AGRAHARAM) 1st STREET: Rs 2,500 per sq.ft (2024)

Stamp duty and registration fee for property in P.M.A Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers P.M.A Avenue?

The Sub Registrar Office that covers P.M.A Avenue is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the fees, ensuring that both parties are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of P.M.A Avenue?

The current guideline value of P.M.A Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 73 per sq.ft in 2002 to Rs 1,600 per sq.ft in 2024, reflecting an overall increase of 2092% over this period.

What are the stamp duty and registration fees for properties in P.M.A Avenue?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would be Rs 1,44,000.

Which office handles property registrations for P.M.A Avenue?

The Villivakkam Sub Registrar Office handles property registrations for P.M.A Avenue, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

What is the land classification for P.M.A Avenue?

P.M.A Avenue is classified as Residential Class III Type - III, indicating its designation for residential use.