Guideline Value for RAINBOW AVENUE

Rainbow Avenue guideline value

The current guideline value of Rainbow Avenue in Paruthipattu village under the Avadi SRO is Rs 1,375 per sq.ft, effective from 1 July 2024. This street falls under the land classification of Industries Type - III.

How the guideline value of Rainbow Avenue has changed

The guideline value for Rainbow Avenue has undergone several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the guideline value at Rs 1,250 per sq.ft, which increased to Rs 1,375 per sq.ft in the 2024 revision, marking a change of +10%.

As a result, the guideline value for Rainbow Avenue has seen a rise from Rs 1,250 per sq.ft in 2023 to Rs 1,375 per sq.ft in 2024. This increase reflects the latest valuation adjustments made by the Registration Department.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO that have a 2024 guideline value ranging from Rs 801 to Rs 4,730 per sq.ft, with a median value of Rs 1,625 per sq.ft. The guideline value for Rainbow Avenue is below this median.

• Railway Parking Road: Rs 950 per sq.ft (2024)
• Raja Chowdry St, Govarthanagiri: Rs 1,625 per sq.ft (2024)
• Rajaji St (East): Rs 950 per sq.ft (2024)
• Rajaji St (East)kamaraj Nagar: Rs 950 per sq.ft (2024)
• Radhakrishnan St: Rs 950 per sq.ft (2024)
• Rajbai Nagar 1st Cross St: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in Rainbow Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,375 per sq.ft, the total guideline value amounts to Rs 13,75,000. The stamp duty at 7% would be Rs 96,250, and the registration fee at 2% would be Rs 27,500, leading to a total cost of Rs 1,23,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Rainbow Avenue?

The Sub Registrar Office that covers Rainbow Avenue is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Paruthipattu. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government collects appropriate stamp duty and registration fees based on this valuation.

When buying or selling property, the guideline value must be considered as it affects the overall transaction costs. Buyers should be aware that the registration fees and stamp duty are calculated based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Rainbow Avenue?

The current guideline value of Rainbow Avenue is Rs 1,375 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Rainbow Avenue increased from Rs 1,250 per sq.ft in 2023 to Rs 1,375 per sq.ft in 2024, reflecting a change of +10%.

What is the land classification for Rainbow Avenue?

Rainbow Avenue is classified under Industries Type - III according to the land classification guidelines.

Where can I find the registration office for Rainbow Avenue?

The registration office covering Rainbow Avenue is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in Rainbow Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 96,250.