Guideline Value for R.R.Avenue

R.R.Avenue guideline value

The current guideline value of R.R.Avenue in Pillaippakkam-A village is Rs 700 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Mixed Type - I land.

How the guideline value of R.R.Avenue has changed

The guideline value for R.R.Avenue has seen several revisions over the years. The earliest recorded figure is from 2017, when the value was Rs 469 per sq.ft. In 2023, the guideline value remained unchanged at Rs 700 per sq.ft, and this figure has been maintained in the 2024 revision as well, indicating a 49% increase from the 2017 figure to the current value.

There are no recorded figures for the years 2002, 2003, 2007, and 2012 for R.R.Avenue. The transition from 2023 to 2024 shows no change, maintaining the guideline value at Rs 700 per sq.ft.

Guideline values in Pillaippakkam-A

In Pillaippakkam-A, there are 49 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 1,254 per sq.ft. The median value for these streets is Rs 300 per sq.ft, placing R.R.Avenue's 2024 figure above the median.

• Sampooranam Nagar: Rs 300 per sq.ft (2024)
• Samsu Nagar: Rs 200 per sq.ft (2024)
• Santhosapuram Nagar Part - I: Rs 500 per sq.ft (2024)
• Santhosapuram Nagar Part - II: Rs 500 per sq.ft (2024)
• Santhoshpuram Nagar Part II: Rs 500 per sq.ft (2024)
• Rajivgandhi Nagar: Rs 300 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total cost to Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.R.Avenue?

The Sub Registrar Office that covers R.R.Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Pillaippakkam-A

The guideline value plays a crucial role in the registration process of property transactions in Pillaippakkam-A. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, which is essential for both buyers and sellers. This value is also used to assess the overall market for property transactions within the area.

Frequently asked questions

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

The current guideline value of R.R.Avenue is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for R.R.Avenue has increased by 49% from Rs 469 per sq.ft in 2017 to Rs 700 per sq.ft in 2024. There were no changes in the guideline value from 2023 to 2024.

What is the land classification of R.R.Avenue?

R.R.Avenue is classified as Mixed Type - I land under the current guidelines.

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

For a property valued at Rs 7,00,000, the stamp duty would be Rs 49,000 and the registration fee would be Rs 14,000, totaling Rs 63,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registration for R.R.Avenue?

The Sriperumpudur Sub Registrar Office handles property registration for R.R.Avenue, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.