Guideline Value for Rajesh Avenue

Rajesh Avenue guideline value

The current guideline value of Rajesh Avenue in Puzhal village, under the Redhills SRO, is Rs 1,102 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Class III Type - I.

How the guideline value of Rajesh Avenue has changed

The guideline value for Rajesh Avenue has seen several revisions over the years. The earliest recorded value was Rs 497 per sq.ft in 2002, which then decreased to Rs 51 per sq.ft in 2003. Following this, the value increased significantly to Rs 200 per sq.ft in 2007, and then rose sharply to Rs 700 per sq.ft in 2012. However, it saw a decline to Rs 469 per sq.ft in 2017. The value then increased to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,102 per sq.ft in 2024.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. There was a notable increase of 113% from 2017 to 2023. The value decreased by 33% from 2012 to 2017. The increase from 2007 to 2012 was 250%, and from 2003 to 2007, it rose by 292%. The value dropped by 90% from 2002 to 2003. Overall, from 2002 to 2024, the guideline value has increased by 122%.

Guideline values in Puzhal

In Puzhal, there are 270 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value for these streets is Rs 1,102 per sq.ft, which is equal to the guideline value of Rajesh Avenue.

• Ramakrishna Nagar: Rs 1,102 per sq.ft (2024)
• Raghavendra Nagar Part-II: Rs 1,650 per sq.ft (2024)
• Ragavendra Nagar Part - 1: Rs 1,650 per sq.ft (2024)
• Ragavendra Nagar: Rs 1,650 per sq.ft (2024)
• Ram Nagar: Rs 1,102 per sq.ft (2024)
• Puzhal Samathuvapuram: Rs 1,102 per sq.ft (2024)

Stamp duty and registration fee for property in Rajesh Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,102 per sq.ft, the total guideline value would be Rs 11,02,000. The stamp duty at 7% would amount to Rs 77,140, and the registration fee at 2% would be Rs 22,040, bringing the total fees to Rs 99,180. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rajesh Avenue?

The Sub Registrar Office that covers Rajesh Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration process of property transactions in Puzhal. It is used to determine the stamp duty and registration fees that need to be paid when purchasing or selling property.

When a property is registered, the higher amount between the guideline value and the sale price is taken into consideration for calculating the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Rajesh Avenue?

The current guideline value of Rajesh Avenue is Rs 1,102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 497 per sq.ft in 2002 to Rs 1,102 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Rajesh Avenue?

Rajesh Avenue is classified as Residential Class III Type - I, which indicates its suitability for residential purposes.

Where is the Sub Registrar Office for Rajesh Avenue located?

The Redhills Sub Registrar Office is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Rajesh Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 11,02,000, the stamp duty would be Rs 77,140 at 7%.