Guideline Value for R.S Avenue

R.S Avenue guideline value

The current guideline value of R.S Avenue is Rs 226 per sq.ft, effective from 1 July 2024. This street is located in Kaval Kazhani village, under the Sunguvarchattram SRO, and is classified as Residential Class II Type - I.

How the guideline value of R.S Avenue has changed

Over the years, the guideline value of R.S Avenue has seen several revisions. The earliest recorded figure is from 2007, when the guideline value was Rs 60 per sq.ft. This figure increased significantly to Rs 225 per sq.ft in 2012, marking a 275% rise. However, between 2012 and 2017, there was a decrease of 33%, bringing the value down to Rs 151 per sq.ft. The subsequent revision in 2023 maintained this value at Rs 226 per sq.ft, showing no change from the previous year.

In the latest revision for 2024, the guideline value remains at Rs 226 per sq.ft, indicating a stable rate over the past year. Overall, from 2007 to 2024, the guideline value has increased by 277%.

Guideline values in Kaval Kazhani

Kaval Kazhani village has a range of guideline values across its 20 streets, with the 2024 figures varying from Rs 226 to Rs 1,550 per sq.ft. The median value for the village is Rs 300 per sq.ft, placing R.S Avenue's 2024 figure below this median.

• Ramasubbu Nagar: Rs 226 per sq.ft (2024)
• Santhosh Nagar: Rs 226 per sq.ft (2024)
• SBI Staff colony: Rs 226 per sq.ft (2024)
• Sri Nagar: Rs 400 per sq.ft (2024)
• Sri Sheshadhri Avenue: Rs 400 per sq.ft (2024)
• Nehru Nagar: Rs 400 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 226 per sq.ft, the total guideline value would be Rs 2,26,000. The stamp duty, charged at 7%, would amount to Rs 15,820, while the registration fee at 2% would be Rs 4,520, making the total fees together Rs 20,340. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers R.S Avenue?

The Sub Registrar Office that covers R.S Avenue is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find more information by visiting the find your SRO page.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kaval Kazhani. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on this established value.

When a property is sold, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

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

The current guideline value of R.S Avenue is Rs 226 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 60 per sq.ft in 2007 to Rs 226 per sq.ft in 2024, reflecting a total increase of 277% over the years.

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

R.S Avenue is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for R.S Avenue?

The Sub Registrar Office for R.S Avenue is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for properties in Kaval Kazhani?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 2,26,000 would incur a stamp duty of Rs 15,820 at 7%.