Guideline Value for PAPAMMAL AVENUE ANNEX

Papammal Avenue Annex guideline value

The current guideline value of Papammal Avenue Annex is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Vilangadupakkam village under the Redhills SRO, classified as Residential Class III Type - I.

How the guideline value of Papammal Avenue Annex has changed

The guideline value for Papammal Avenue Annex has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, the value rose significantly to Rs 400 per sq.ft in 2023, and most recently, it has increased to Rs 440 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 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Vilangadupakkam

In Vilangadupakkam village, there are 160 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 365 to Rs 1,792 per sq.ft, with a median value of Rs 440 per sq.ft. Papammal Avenue Annex's current guideline value aligns perfectly with this median.

• Pappammal Avenue: Rs 440 per sq.ft (2024)
• Parthasarathy Nagar II: Rs 770 per sq.ft (2024)
• Padmavathi Nagar: Rs 440 per sq.ft (2024)
• Padmavathi Garden: Rs 440 per sq.ft (2024)
• Padma Nagar: Rs 440 per sq.ft (2024)
• Omm Lakshme Nagar Annex-II: Rs 820 per sq.ft (2024)

Stamp duty and registration fee for property in Papammal Avenue Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It's important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Papammal Avenue Annex?

The Papammal Avenue Annex falls under the jurisdiction of the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vilangadupakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Papammal Avenue Annex?

The current guideline value of Papammal Avenue Annex is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the land classification of Papammal Avenue Annex?

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

Where can I find the Redhills Sub Registrar Office?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Papammal Avenue Annex?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, a property valued at Rs 4,40,000 would incur a stamp duty of Rs 30,800 at 7%.