Guideline Value for Pappammal Avenue

Pappammal Avenue guideline value

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

How the guideline value of Pappammal Avenue has changed

The guideline value for Pappammal Avenue has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased to Rs 400 per sq.ft in 2012, marking a 100% rise. However, it then decreased to Rs 268 per sq.ft in 2017, representing a 33% drop. The value rebounded significantly to Rs 400 per sq.ft in 2023, and as of the 2024 revision, it stands at Rs 440 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in Vilangadupakkam

In Vilangadupakkam, 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. The median value is Rs 440 per sq.ft, which is equal to the guideline value of Pappammal Avenue.

• Papammal Avenue Annex: 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 Pappammal Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total fees to Rs 39,600. Please 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 more details.

Which Sub Registrar Office covers Pappammal Avenue?

The Sub Registrar Office that covers Pappammal Avenue is 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 is a crucial factor during the registration of property transactions in Vilangadupakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer or seller approaches the registration office, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate fees are collected based on the established rates. This process maintains transparency and standardization within the real estate market.

Frequently asked questions

What is the current guideline value of Pappammal Avenue?

The current guideline value of Pappammal Avenue 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 200 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 120% over the years.

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

For a property valued at Rs 4,40,000, the stamp duty would be Rs 30,800 and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers Pappammal Avenue?

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

What is the land classification for Pappammal Avenue?

Pappammal Avenue is classified as Residential Class III Type - I.