Guideline Value for PRIME AVENUE EXTENSION

Prime Avenue Extension guideline value

The current guideline value of Prime Avenue Extension in Agaramthen village is Rs 3,300 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Mixed Special Type - II.

How the guideline value of Prime Avenue Extension has changed

The guideline value for Prime Avenue Extension has experienced several revisions over the years. In 2017, the value was set at Rs 2,000 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in the 2023 revision, marking a 50% increase. The latest revision in 2024 saw another increase to Rs 3,300 per sq.ft, reflecting a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 65%. It is important to note that there are no figures available for this street in the revisions for the years 2002, 2003, 2007, and 2012.

Guideline values in Agaramthen

Agaramthen village has a total of 125 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 3,700 per sq.ft. The median value for these streets is Rs 830 per sq.ft, placing the current value of Prime Avenue Extension above this median.

• Prime Avenue: Rs 3,300 per sq.ft (2024)
• Poonga Street: Rs 830 per sq.ft (2024)
• Raghulamman Koil Cross Street: Rs 830 per sq.ft (2024)
• Raghulamman Koil Street: Rs 830 per sq.ft (2024)
• Ragulan Street: Rs 830 per sq.ft (2024)
• Pillaiyar Koil Main Road: Rs 830 per sq.ft (2024)

Stamp duty and registration fee for property in Prime Avenue Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is essential 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 Prime Avenue Extension?

The Sub Registrar Office covering Prime Avenue Extension is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Agaramthen

The guideline value is a critical factor when registering property transactions in Agaramthen. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a buyer or seller engages in a transaction, the guideline value is used to calculate the required fees, ensuring that both parties are aware of the financial obligations involved in the registration process.

Frequently asked questions

What is the current guideline value of Prime Avenue Extension?

The current guideline value of Prime Avenue Extension is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 65% over this period.

What are the other streets in Agaramthen and their values?

Other streets in Agaramthen include Prime Avenue at Rs 3,300 per sq.ft, and several streets such as Poonga Street, Raghulamman Koil Cross Street, Raghulamman Koil Street, Ragulan Street, and Pillaiyar Koil Main Road, all valued at Rs 830 per sq.ft as of 2024.

What is the stamp duty for a property in Prime Avenue Extension?

The stamp duty for a property in Prime Avenue Extension is calculated at 7% of the guideline value. For example, for a property valued at Rs 33,00,000, the stamp duty would amount to Rs 2,31,000.

Where can I find the Sub Registrar Office for Prime Avenue Extension?

The Sub Registrar Office for Prime Avenue Extension is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Tambaram Joint 1 SRO.