Guideline Value for Sri P.G. Avenue

Sri P.G. Avenue guideline value

The current guideline value of Sri P.G. Avenue is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Kattupakkam village, under the Kunrathur SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sri P.G. Avenue has changed

The guideline value for Sri P.G. Avenue has undergone several revisions over the years. In 2007, the guideline value was Rs 350 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012, marking a rise of 414%. However, from 2012 to 2017, the value decreased to Rs 1,206 per sq.ft, a decline of 33%. The value then rose again to Rs 1,800 per sq.ft in 2023, representing a 49% increase. The latest revision in 2024 set the guideline value at Rs 1,980 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 466%.

Guideline values in Kattupakkam

In Kattupakkam, there are 75 streets under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 1,980 to Rs 4,290 per sq.ft. The median guideline value for these streets is Rs 2,090 per sq.ft, placing the 2024 guideline value of Sri P.G. Avenue below this median.

• Sri Nagar: Rs 2,090 per sq.ft (2024)
• Sri Devi Nagar: Rs 2,090 per sq.ft (2024)
• Sri Arul Avenue: Rs 2,090 per sq.ft (2024)
• Sun Garden: Rs 3,520 per sq.ft (2024)
• Swarnapuri Nagar: Rs 3,520 per sq.ft (2024)
• Senthurpuram Extension II: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Sri P.G. Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value is Rs 19,80,000. The stamp duty at 7% amounts to Rs 1,38,600, while the registration fee at 2% is Rs 39,600. Together, the total cost for these fees is Rs 1,78,200. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri P.G. Avenue?

The Sub Registrar Office that covers Sri P.G. Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in the property registration process in Kattupakkam. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is legally recognized and documented.

Frequently asked questions

What is the current guideline value of Sri P.G. Avenue?

The current guideline value of Sri P.G. Avenue is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 350 per sq.ft in 2007 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 466% since 2007.

What is the registration office for Sri P.G. Avenue?

The registration office for Sri P.G. Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Sri P.G. Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at a rate of 7%.

What other streets have guideline values in Kattupakkam?

Other streets in Kattupakkam include Sri Nagar, Sri Devi Nagar, Sri Arul Avenue, Sun Garden, Swarnapuri Nagar, and Senthurpuram Extension II, with guideline values ranging from Rs 2,090 to Rs 3,960 per sq.ft in 2024.