Guideline Value for RAKESH AVENUE

Rakesh Avenue guideline value

The current guideline value of Rakesh Avenue, located in Kollappancheri village under the Poonamallee SRO, is Rs 1,720 per sq.ft, effective from 1 July 2024. This street falls under the land classification of Residential Special Type - II.

How the guideline value of Rakesh Avenue has changed

Over the years, the guideline value of Rakesh Avenue has remained consistent. The 2017 revision recorded a guideline value of Rs 1,720 per sq.ft, which was maintained in the subsequent revisions of 2023 and the latest in 2024. The register has no figures available for the years 2002, 2003, 2007, and 2012.

From 2017 to 2024, there has been no change in the guideline value, maintaining a steady rate of Rs 1,720 per sq.ft. Similarly, the transition from 2023 to 2024 also saw no increase, reflecting a consistent valuation over these years.

Guideline values in Kollappancheri

Kollappancheri village features a range of guideline values across its streets, with the 2024 figures ranging from Rs 550 to Rs 2,900 per sq.ft. The median guideline value for the village is Rs 2,300 per sq.ft, placing Rakesh Avenue's current figure below this median.

• Royal Castle Phase-I: Rs 2,300 per sq.ft (2024)
• Royal Castle Phase - II: Rs 2,300 per sq.ft (2024)
• Kamatchi Nagar 5/28b: Rs 1,720 per sq.ft (2024)
• Kamachi Nagar: Rs 550 per sq.ft (2024)
• Homeland Klassic: Rs 2,900 per sq.ft (2024)
• Chaitanya Avenue: Rs 2,300 per sq.ft (2024)

Stamp duty and registration fee for property in Rakesh Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,720 per sq.ft, the total guideline value amounts to Rs 17,20,000. The stamp duty at 7% would be Rs 1,20,400, and the registration fee at 2% would be Rs 34,400, totaling Rs 1,54,800. 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 Rakesh Avenue?

The Sub Registrar Office that covers Rakesh Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Kollappancheri. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a property transaction occurs, the guideline value is assessed, and the applicable duties are calculated based on this value or the sale price, whichever is higher. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Rakesh Avenue?

The current guideline value of Rakesh Avenue is Rs 1,720 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Rakesh Avenue has remained unchanged at Rs 1,720 per sq.ft from 2017 through 2024, with no figures available for the years 2002, 2003, 2007, and 2012.

What is the land classification of Rakesh Avenue?

Rakesh Avenue is classified as Residential Special Type - II, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties on Rakesh Avenue?

For a 1,000 sq.ft property on Rakesh Avenue, the total guideline value is Rs 17,20,000. The stamp duty at 7% would be Rs 1,20,400, and the registration fee at 2% would be Rs 34,400, totaling Rs 1,54,800.

Which Sub Registrar Office covers the area of Rakesh Avenue?

The Poonamallee Sub Registrar Office covers Rakesh Avenue, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.