Guideline Value for PRIME AVENUE

Prime Avenue guideline value

The current guideline value of Prime Avenue in Agaramthen village, under the Tambaram Joint 1 SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of Prime Avenue has changed

The guideline value of Prime Avenue has seen significant changes over the years. The 2017 revision set the value at Rs 2,000 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision, marking a 50% rise. The latest 2024 revision has further increased the value to Rs 3,300 per sq.ft, reflecting a 10% increase 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 the years 2002, 2003, 2007, and 2012 for this street in the register.

Guideline values in Agaramthen

Agaramthen village has 125 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 440 to Rs 3,700 per sq.ft. The median guideline value for the village is Rs 830 per sq.ft, placing Prime Avenue's 2024 figure above this median.

• Prime Avenue Extension: 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

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 to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Prime Avenue?

The Sub Registrar Office that covers Prime Avenue 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 during property registration in Agaramthen. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It is essential to be aware of the current guideline value to ensure compliance with registration requirements and to understand the financial implications of the transaction.

Frequently asked questions

What is the current guideline value of Prime Avenue?

The current guideline value of Prime Avenue 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 increased from Rs 2,000 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, marking a total increase of 65% over this period.

What is the land classification for Prime Avenue?

The land classification for Prime Avenue is Mixed Special Type - II.

What are the stamp duty and registration fees for property in Prime Avenue?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Where is the Sub Registrar Office for Prime Avenue located?

The Sub Registrar Office for Prime Avenue is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.