Guideline Value for PEMMASANI AVENUE

Pemmasani Avenue guideline value

The current guideline value of Pemmasani Avenue is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Kovilkuppam village under the Manavalanagar SRO, classified as Residential Class III Type - I.

How the guideline value of Pemmasani Avenue has changed

The guideline value for Pemmasani Avenue has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 300 per sq.ft. This was followed by a decrease to Rs 201 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly by 49% back to Rs 300 per sq.ft. The most recent revision in 2024 maintained the value at Rs 300 per sq.ft, reflecting a 0% change from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Guideline values in Kovilkuppam

In Kovilkuppam, there are a total of 68 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 800 per sq.ft. The median guideline value for these streets is Rs 350 per sq.ft, placing Pemmasani Avenue below this median.

• Raja Rathinam Nagar: Rs 400 per sq.ft (2024)
• Ramasamy Nagar: Rs 300 per sq.ft (2024)
• Revathy Garden: Rs 300 per sq.ft (2024)
• Rk Nagar: Rs 300 per sq.ft (2024)
• Sanjeevi Nagar: Rs 300 per sq.ft (2024)
• Marudur Town: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Pemmasani Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value amounts to Rs 3,00,000. The stamp duty charged at 7% would be Rs 21,000, while the registration fee at 2% would be Rs 6,000, bringing the total to Rs 27,000. 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 precise calculations.

Which Sub Registrar Office covers Pemmasani Avenue?

The Sub Registrar Office that covers Pemmasani Avenue is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential reference point during property transactions in Kovilkuppam. It is used to determine the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the transaction is in line with government regulations regarding property value assessments.

Frequently asked questions

What is the current guideline value of Pemmasani Avenue?

The current guideline value of Pemmasani Avenue is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen revisions from Rs 300 per sq.ft in 2012, decreasing to Rs 201 per sq.ft in 2017, and then increasing back to Rs 300 per sq.ft in 2023 and remaining the same in 2024.

What is the median guideline value of streets in Kovilkuppam?

The median guideline value for streets in Kovilkuppam is Rs 350 per sq.ft, with Pemmasani Avenue's value being below this median.

What fees are associated with buying property in Pemmasani Avenue?

When purchasing property in Pemmasani Avenue, the stamp duty is charged at 7% and the registration fee at 2% of the higher value between the guideline value and the sale price.

Where can I find the Sub Registrar Office for Pemmasani Avenue?

The Sub Registrar Office for Pemmasani Avenue is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.