Guideline Value for R.K Avenue

R.K Avenue guideline value

The current guideline value of R.K Avenue is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Panchetty village and falls under the Redhills SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of R.K Avenue has changed

The guideline value of R.K Avenue has seen several revisions over the years. The 2007 revision set the value at Rs 200 per sq.ft, which increased to Rs 300 per sq.ft in the 2012 revision, marking a 50% increase. However, the 2017 revision saw a decrease to Rs 201 per sq.ft, which was then followed by a significant increase to Rs 300 per sq.ft in both the 2023 and 2024 revisions, showing a 49% increase from 2017 to 2023, but no change from 2023 to 2024.

It is important to note that the register does not have figures for R.K Avenue for the years 2002 and 2003. Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 50%.

Guideline values in Panchetty

Panchetty village has a total of 46 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,600 per sq.ft, with a median value of Rs 1,000 per sq.ft. R.K Avenue's current guideline value is below this median.

• S.E.N. Nagar: Rs 1,000 per sq.ft (2024)
• S.E.N. Nagar 1st Cross Street: Rs 1,000 per sq.ft (2024)
• S.E.N. Nagar 2nd Cross Street: Rs 1,000 per sq.ft (2024)
• Ponniamman Koil Street: Rs 400 per sq.ft (2024)
• Ponneri Salai: Rs 400 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 400 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 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, bringing the total fees together to Rs 27,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers R.K Avenue?

The Sub Registrar Office that covers R.K Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Panchetty. It helps determine the stamp duty and registration fees that need to be paid, ensuring that both the buyer and seller are aware of the costs involved in the transaction.

When buying or selling property, the guideline value serves as a benchmark for calculating the applicable fees. It is essential for buyers and sellers to be informed about the current guideline value to avoid any surprises during the registration process.

Frequently asked questions

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

The current guideline value of R.K Avenue is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, starting from Rs 200 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreasing to Rs 201 per sq.ft in 2017, and returning to Rs 300 per sq.ft in both 2023 and 2024.

Which Sub Registrar Office covers R.K Avenue?

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

What are the stamp duty and registration fees for R.K Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Where can I find more information about the guideline values in Panchetty?

More information about the guideline values in Panchetty can be found in the Registration Department's guideline value register, which lists the values for various streets in the area.