Guideline Value for Rani Avenue

Rani Avenue guideline value

The current guideline value for Rani Avenue, located in Kovilpathagai village under the Ambattur SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Rani Avenue has changed

The guideline value for Rani Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 800 per sq.ft, which was then reduced to Rs 536 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 800 per sq.ft in the 2023 revision, before reaching the current rate of Rs 880 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value saw a substantial increase of 49%. Overall, comparing the 2012 figure to the 2024 figure, there has been a 10% increase. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 803 to Rs 2,900 per sq.ft. The median value for these streets is Rs 870 per sq.ft, placing Rani Avenue's 2024 value above this median.

• Rani Nagar: Rs 880 per sq.ft (2024)
• Rani Nagar Extn.: Rs 880 per sq.ft (2024)
• Rangarajan Nagar: Rs 880 per sq.ft (2024)
• Rathna Garden: Rs 1,600 per sq.ft (2024)
• R.R.Nagar: Rs 880 per sq.ft (2024)
• R.R .Nagar Extn.: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Rani Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty, charged at 7%, would amount to Rs 61,600, while the registration fee at 2% would be Rs 17,600. Together, the total cost for stamp duty and registration would be Rs 79,200. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Rani Avenue?

The Sub Registrar Office that covers Rani Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kovilpathagai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid to the government during the transaction.

When a property is sold, the guideline value is assessed to ensure that the transaction is recorded accurately. Buyers and sellers should be aware of the current guideline value, as it directly impacts the financial obligations associated with the property transfer.

Frequently asked questions

What is the current guideline value of Rani Avenue?

The current guideline value of Rani Avenue is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2012 to Rs 536 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

What is the land classification for Rani Avenue?

Rani Avenue is classified under Residential Class II Type - I land classification.

Where is the Ambattur Sub Registrar Office located?

The Ambattur Sub Registrar Office is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Rani Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 880 per sq.ft, the stamp duty would be Rs 61,600.