Guideline Value for PRINCE AVENUE

Prince Avenue guideline value

The current guideline value of Prince Avenue is Rs 165 per sq.ft, effective from 1 July 2024. This street is located in Vazhuthigaimedu village, under the Thiruvottiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Prince Avenue has changed

The guideline value for Prince Avenue has seen several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 50 per sq.ft. This increased significantly to Rs 150 per sq.ft in 2012, marking a 200% rise. However, in 2017, the value dropped to Rs 100 per sq.ft, a decrease of 33%. The next revision in 2023 brought it back up to Rs 150 per sq.ft, followed by a further increase to Rs 165 per sq.ft in 2024, which is a 10% rise from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 230%. There are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Vazhuthigaimedu

In Vazhuthigaimedu, there are four streets under the Thiruvottiyur SRO that carry a 2024 guideline value of Rs 165 per sq.ft. This places Prince Avenue at the median value for the village.

• Sri Sankara Velvan Nagar: Rs 165 per sq.ft (2024)
• Kasturi Nagar: Rs 165 per sq.ft (2024)
• Arr City Sabarish Garden: Rs 165 per sq.ft (2024)

Stamp duty and registration fee for property in Prince Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 165 per sq.ft, the total guideline value would be Rs 1,65,000. The stamp duty at 7% would be Rs 11,550, and the registration fee at 2% would be Rs 3,300, bringing the total cost for these fees to Rs 14,850. 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 detailed calculations.

Which Sub Registrar Office covers Prince Avenue?

The Sub Registrar Office that covers Prince Avenue is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Vazhuthigaimedu. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value serves as a benchmark for calculating these fees, ensuring that the transaction is in compliance with local regulations. Buyers and sellers should be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Prince Avenue?

The current guideline value of Prince Avenue is Rs 165 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2007 to Rs 165 per sq.ft in 2024, reflecting a total increase of 230% over the years.

What are the other streets with the same guideline value in Vazhuthigaimedu?

Other streets in Vazhuthigaimedu with the same guideline value of Rs 165 per sq.ft in 2024 include Sri Sankara Velvan Nagar, Kasturi Nagar, and Arr City Sabarish Garden.

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

For a property valued at Rs 1,65,000, the stamp duty would be Rs 11,550 and the registration fee would be Rs 3,300, totaling Rs 14,850.

Which office handles property registration for Prince Avenue?

The Thiruvottiyur Sub Registrar Office handles property registration for Prince Avenue, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.