Guideline Value for R.K Avenue

R.K Avenue guideline value

The current guideline value of R.K Avenue in Udaiyavarkoil village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Poonamallee SRO and is classified as Residential Class II Type - I.

How the guideline value of R.K Avenue has changed

The guideline value for R.K Avenue has undergone several revisions over the years. In 2012, the guideline value was Rs 500 per sq.ft, which decreased to Rs 335 per sq.ft in 2017. Following this, the value increased significantly to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figure for this street in the years 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a 10% increase.

Guideline values in Udaiyavarkoil

In Udaiyavarkoil, there are 35 streets under the Poonamallee SRO that have a 2024 guideline value ranging from Rs 440 to Rs 3,400 per sq.ft. The median guideline value for these streets is Rs 550 per sq.ft, which is equal to the current guideline value of R.K Avenue.

• Sababathy Mudaliar street: Rs 550 per sq.ft (2024)
• Sannathi Street: Rs 550 per sq.ft (2024)
• Rajarathinam salai: Rs 550 per sq.ft (2024)
• Shanmugapuram 1st Street: Rs 550 per sq.ft (2024)
• Shrinivasa nagar: Rs 550 per sq.ft (2024)
• Shri Padmavathy nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in R.K Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. It is important to note that 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 further calculations.

Which Sub Registrar Office covers R.K Avenue?

The Sub Registrar Office that covers R.K Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Udaiyavarkoil. It is used to determine the stamp duty and registration fees payable when purchasing or selling property. Buyers and sellers must consider the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of R.K Avenue?

The current guideline value of R.K Avenue is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification of R.K Avenue?

R.K Avenue is classified as Residential Class II Type - I.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.

How is stamp duty calculated for properties in R.K Avenue?

Stamp duty for properties in R.K Avenue is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 5,50,000, the stamp duty would be Rs 38,500 at 7%.