Guideline Value for Pargavi Avenue

Pargavi Avenue guideline value

The current guideline value of Pargavi Avenue in Adhanoor village is Rs 1,000 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Special Type - I.

How the guideline value of Pargavi Avenue has changed

The guideline value for Pargavi Avenue has undergone several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, from 2012 to 2017, the value decreased to Rs 670 per sq.ft, a drop of 33%. The value then rose again to Rs 1,000 per sq.ft in 2023, remaining unchanged until the latest revision in 2024.

From 2017 to 2023, the guideline value saw an increase of 49%. The current rate of Rs 1,000 per sq.ft in 2024 is the same as the previous year's figure, indicating no change from 2023 to 2024. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Adhanoor

In Adhanoor, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 670 to Rs 3,000 per sq.ft. The median value is Rs 1,000 per sq.ft, which aligns with the guideline value of Pargavi Avenue.

• Pangajapuram: Rs 1,000 per sq.ft (2024)
• Pearl City: Rs 1,000 per sq.ft (2024)
• Pearl City Extn: Rs 1,000 per sq.ft (2024)
• Padmavathi Nagar: Rs 1,000 per sq.ft (2024)
• Padmavathi Avenue (S.No.369/8): Rs 1,000 per sq.ft (2024)
• Padmavathi Avenue (S.No.226,228/1): Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Pargavi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. 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 more information.

Which Sub Registrar Office covers Pargavi Avenue?

The Sub Registrar Office that covers Pargavi Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Adhanoor. It is used to determine the amount of stamp duty and registration fees that need to be paid during the registration of a property. Buyers and sellers should be aware that the guideline value is a reference point for the transaction value.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Pargavi Avenue?

The current guideline value of Pargavi Avenue is Rs 1,000 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 1,000 per sq.ft in 2012, then decreased to Rs 670 per sq.ft in 2017, and returned to Rs 1,000 per sq.ft in 2023 and 2024.

What is the land classification of Pargavi Avenue?

Pargavi Avenue is classified as Residential Special Type - I under the Gooduvancheri SRO.

What are the stamp duty rates for property in Pargavi Avenue?

The stamp duty rate for property transactions in Pargavi Avenue is 7% of the guideline value or sale price, whichever is higher.

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

The Gooduvancheri Sub Registrar Office, which covers Pargavi Avenue, is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.