Guideline Value for R.S.AVENUE (SIVALINGAPURAM)

R.S.Avenue (Sivalingapuram) guideline value

The current guideline value of R.S.Avenue (Sivalingapuram) is Rs 2,100 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of R.S.Avenue (Sivalingapuram) has changed

The guideline value for R.S.Avenue (Sivalingapuram) has seen a revision from Rs 2,000 per sq.ft in 2012 to Rs 2,100 per sq.ft in 2024, marking a 5% increase. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023.

In summary, the only recorded revisions are from 2012 to 2024, with no values available for the intervening years. This indicates a steady increase in the guideline value over the last decade, reflecting the latest update in 2024.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value of R.S.Avenue (Sivalingapuram) is below this median.

• Robinson Nagar: Rs 1,300 per sq.ft (2024)
• R.K.NAGAR (Near Santhosh Nagar): Rs 2,100 per sq.ft (2024)
• R.K.Nagar (Kallikuppam): Rs 1,600 per sq.ft (2024)
• R.K.Dhatchan Nagar: Rs 1,600 per sq.ft (2024)
• Ring Road: Rs 5,500 per sq.ft (2024)
• Reshma Garden: Rs 1,300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,100 per sq.ft, the total guideline value would be Rs 21,00,000. The stamp duty at 7% would amount to Rs 1,47,000, and the registration fee at 2% would be Rs 42,000, making the total fees Rs 1,89,000. It is important to note that the 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 more detailed calculations.

Which Sub Registrar Office covers R.S.Avenue (Sivalingapuram)?

The Sub Registrar Office that covers R.S.Avenue (Sivalingapuram) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property in Korattur, as it determines the minimum value at which a property can be sold or purchased. This value is used to calculate the stamp duty and registration fees that are payable during the transaction.

When you buy or sell property, the guideline value ensures transparency and fairness in the transaction process. It helps both buyers and sellers understand the baseline for property values in the area, facilitating smoother negotiations.

Frequently asked questions

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

The current guideline value of R.S.Avenue (Sivalingapuram) is Rs 2,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value changed from Rs 2,000 per sq.ft in 2012 to Rs 2,100 per sq.ft in 2024, which is a 5% increase. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023.

What is the land classification of R.S.Avenue (Sivalingapuram)?

R.S.Avenue (Sivalingapuram) is classified as Residential Class III Type - I, indicating its designation for residential use.

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

The Villivakkam Sub Registrar Office covers R.S.Avenue (Sivalingapuram) and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for property in R.S.Avenue (Sivalingapuram)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 21,00,000, the stamp duty would amount to Rs 1,47,000.