Guideline Value for Staling Avenue

Staling Avenue guideline value

The current guideline value of Staling Avenue, located in Kolapakkam village under the Pammal SRO, is Rs 2,200 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 Staling Avenue has changed

The guideline value for Staling Avenue has seen several revisions over the years. The oldest available figure is from the 2017 revision, which was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. There are no available figures for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the current value for Staling Avenue.

• Sri Thiruvengadam Nagar: Rs 2,200 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 2,200 per sq.ft (2024)
• Suji Chamber: Rs 2,200 per sq.ft (2024)
• Thattakulam (ward 1): Rs 1,650 per sq.ft (2024)
• Srinivasa Nagar (ward 5): Rs 2,200 per sq.ft (2024)
• Sri Narayana Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Staling Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that 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 Staling Avenue?

The Sub Registrar Office that covers Staling Avenue is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is used as a benchmark for determining the minimum value of a property during registration. When a property is bought or sold, the guideline value helps in calculating the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it can affect the overall cost of the transaction. The registration office uses this value to ensure that the property is registered at a fair rate, aligning with the government's regulations.

Frequently asked questions

What is the current guideline value of Staling Avenue?

The current guideline value of Staling Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing a total increase of 64% over this period.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles property registration for Staling Avenue?

The Pammal Sub Registrar Office is responsible for property registration in Staling Avenue, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the land classification for Staling Avenue?

Staling Avenue is classified as Residential Class II Type - I, which indicates its designation for residential purposes.