Guideline Value for TRANSPORT AVENUE

Transport Avenue guideline value

The current guideline value of Transport Avenue in Thirukkachur - 1 village is Rs 550 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of Transport Avenue has changed

The guideline value for Transport Avenue has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. Following this, the value increased significantly to Rs 500 per sq.ft in 2023, and most recently, it has risen to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2012 revision to the 2024 revision reflects a modest increase of 10%. It is important to note that the register has no figures for Transport Avenue in the years 2002, 2003, and 2007.

Guideline values in Thirukkachur - 1

In Thirukkachur - 1, there are 86 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 385 to Rs 3,300 per sq.ft. The median value for these streets is Rs 660 per sq.ft, positioning Transport Avenue's 2024 guideline value below this median.

• Tnhb Thirukatchur: Rs 2,200 per sq.ft (2024)
• Thriuvallurvar Street: Rs 550 per sq.ft (2024)
• Thiyagarajar Street: Rs 550 per sq.ft (2024)
• Thiyagarajapuram Nagar: Rs 660 per sq.ft (2024)
• Vasantham Thiagarajapuram: Rs 660 per sq.ft (2024)
• Thirukatchur South: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Transport Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total fees to Rs 49,500. It is essential to note that the duty is charged based 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 Transport Avenue?

The Sub Registrar Office that covers Transport Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Thirukkachur - 1

The guideline value plays a crucial role during the registration of property transactions in Thirukkachur - 1. It serves as a benchmark for determining the stamp duty and registration fees that are applicable when buying or selling property in the area.

When a property is registered, the guideline value is considered to ensure that the fees are calculated accurately. Buyers and sellers must be aware of this value to understand the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Transport Avenue?

The current guideline value of Transport Avenue is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Transport Avenue?

Transport Avenue is classified as Residential Class I Type - II.

What are the stamp duty and registration fees for a property in Transport Avenue?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500.

Where can I find the Sub Registrar Office for Transport Avenue?

The Sub Registrar Office for Transport Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.