Guideline Value for Prema Avenue

Prema Avenue guideline value

The current guideline value of Prema Avenue is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village under the Ambattur SRO and is classified as Residential Class I Type - I.

How the guideline value of Prema Avenue has changed

The guideline value for Prema Avenue has undergone several revisions since 2007. In 2007, the guideline value was Rs 400 per sq.ft, which saw a significant increase to Rs 2,200 per sq.ft in 2012. However, this was followed by a decrease to Rs 1,474 per sq.ft in 2017. The most recent revision in 2024 has brought the value up to Rs 2,400 per sq.ft, marking a 63% increase from the 2017 figure.

Overall, from the 2007 revision to the current 2024 figure, there has been a substantial increase of 500%. Notably, there are no figures available for the years 2002, 2003, and 2023 for this street in the register.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 5,500 per sq.ft. The median value is Rs 2,400 per sq.ft, which is equal to the guideline value of Prema Avenue.

• Prasana Venkateswara Street: Rs 1,600 per sq.ft (2024)
• Prasakam Street (Senthil Nagar): Rs 2,700 per sq.ft (2024)
• Prabhavathi Nagar: Rs 1,500 per sq.ft (2024)
• Power Line Road: Rs 2,400 per sq.ft (2024)
• Purananooru Street(sakthi nagar): Rs 2,400 per sq.ft (2024)
• Ponniyamman Koil Street: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Prema Avenue

For a 1,000 sq.ft plot at the current rate of Rs 2,400 per sq.ft, the guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, totaling Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prema Avenue?

The Sub Registrar Office that covers Prema Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Thirumullaivoyal. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property transaction occurs, the guideline value is assessed to ensure that the appropriate fees are calculated based on the higher of the guideline value or the actual sale price. This ensures compliance with the regulations set forth by the Registration Department.

Frequently asked questions

What is the current guideline value of Prema Avenue?

The current guideline value of Prema Avenue is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 400 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 500% over the years.

What are the other streets in Thirumullaivoyal and their guideline values?

Other streets in Thirumullaivoyal include Prasana Venkateswara Street at Rs 1,600 per sq.ft, Prasakam Street (Senthil Nagar) at Rs 2,700 per sq.ft, and Power Line Road at Rs 2,400 per sq.ft, among others.

What is the registration fee for property in Prema Avenue?

The registration fee for a property in Prema Avenue is calculated based on the guideline value. For a plot valued at Rs 24,00,000, the registration fee would be Rs 48,000 at a rate of 2%.

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

The Sub Registrar Office covering Prema Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.