Guideline Value for R R AVENUE

R R Avenue guideline value

The current guideline value of R R Avenue, located in Iyyappanthangal village, is Rs 1,980 per sq.ft as per the 2024 revision, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of R R Avenue has changed

The guideline value for R R Avenue has experienced several revisions over the years. In the 2007 revision, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in the 2012 revision. However, this figure saw a decrease of 33% to Rs 1,206 per sq.ft in the 2017 revision. The 2023 revision marked an increase to Rs 1,800 per sq.ft, followed by a further increase of 10% to the current value of Rs 1,980 per sq.ft in 2024.

It is important to note that there are no figures available for R R Avenue in the 2002 and 2003 revisions. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%.

Guideline values in Iyyappanthangal

In Iyyappanthangal, there are 134 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,610 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value of R R Avenue is below this median.

• Ramdass Nagar 3rd Street: Rs 1,980 per sq.ft (2024)
• Ramdass Nagar 2nd Street: Rs 1,980 per sq.ft (2024)
• Ramdass Nagar 1st Street: Rs 1,980 per sq.ft (2024)
• Ramadass Nagar: Rs 1,980 per sq.ft (2024)
• Ramachandra Nagar Ist Street: Rs 2,750 per sq.ft (2024)
• Ramachandra Nagar Cross Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in R R Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, resulting in a total of Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers R R Avenue?

The Sub Registrar Office that covers R R Avenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

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

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the transaction.

Frequently asked questions

What is the current guideline value of R R Avenue?

The current guideline value of R R Avenue is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most recent being an increase from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024. Overall, it has increased by 560% from Rs 300 per sq.ft in 2007 to the current value.

What is the land classification of R R Avenue?

R R Avenue is classified as Residential Class III Type - I, indicating its designation for residential use within the area.

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

For a property valued at Rs 19,80,000, the stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, totaling Rs 1,78,200. The duty is charged on the higher of the guideline value and the sale price.

Which Sub Registrar Office handles registrations for R R Avenue?

The Chennai South Joint I Sub Registrar Office handles registrations for R R Avenue, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.