Guideline Value for Seven Hill Avenue

Seven Hill Avenue guideline value

The current guideline value of Seven Hill Avenue in Ekkaduthangal village is Rs 4,620 per sq.ft. This value is effective from 1 July 2024 and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Seven Hill Avenue has changed

The guideline value for Seven Hill Avenue has seen several revisions over the years. In 2012, the value was Rs 4,200 per sq.ft, which then decreased to Rs 2,814 per sq.ft in 2017. Following this, the value rose significantly to Rs 4,200 per sq.ft in 2023 and then further increased to Rs 4,620 per sq.ft in 2024. It is important to note that there are no figures available for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, it saw a substantial increase of 49%. The overall change from 2012 to 2024 reflects a 10% increase, with the latest revision marking a 10% rise from the previous year.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft. The median guideline value is Rs 4,620 per sq.ft, which is equal to the current guideline value of Seven Hill Avenue. Below are the guideline values for other streets in Ekkaduthangal:

• Shanmuga Raja Street: Rs 3,520 per sq.ft (2024)
• Sathya Nagar Ist Street: Rs 4,620 per sq.ft (2024)
• Sathya Nagar 3rd Street: Rs 4,620 per sq.ft (2024)
• Sathya Nagar 2nd Street: Rs 4,620 per sq.ft (2024)
• Sathyamurthy Nagar: Rs 3,520 per sq.ft (2024)
• Sardar Colony Ist Street: Rs 3,080 per sq.ft (2024)

Stamp duty and registration fee for property in Seven Hill Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,620 per sq.ft, the total guideline value amounts to Rs 46,20,000. The stamp duty at 7% would be Rs 3,23,400, and the registration fee at 2% would be Rs 92,400, bringing the total cost for these fees to Rs 4,15,800. 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 further assistance.

Which Sub Registrar Office covers Seven Hill Avenue?

The Sub Registrar Office that covers Seven Hill Avenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Ekkaduthangal, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are aligned with the official valuation set by the government.

During the registration process, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions, reflecting the current market conditions as assessed through the guideline value.

Frequently asked questions

What is the current guideline value of Seven Hill Avenue?

The current guideline value of Seven Hill Avenue is Rs 4,620 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 4,200 per sq.ft in 2012 to Rs 2,814 per sq.ft in 2017, then increased to Rs 4,200 per sq.ft in 2023, and finally to Rs 4,620 per sq.ft in 2024.

What is the land classification for Seven Hill Avenue?

The land classification for Seven Hill Avenue is Residential Class II Type - I, indicating its designation for residential use.

What are the stamp duty and registration fees for properties in Seven Hill Avenue?

For a property valued at Rs 46,20,000, the stamp duty would be Rs 3,23,400 and the registration fee would be Rs 92,400, totaling Rs 4,15,800.

Which Sub Registrar Office serves Seven Hill Avenue?

The Chennai South Joint I Sub Registrar Office serves Seven Hill Avenue, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.