Guideline Value for WEST AVENUE

West Avenue guideline value

The current guideline value of West Avenue in Puliyur village, under the Kodambakkam SRO, is Rs 7,100 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of West Avenue has changed

The guideline value for West Avenue has seen significant changes over the years. In 2002, the guideline value was Rs 1,561 per sq.ft. This increased to Rs 1,714 per sq.ft in 2003, marking a 10% rise. The value continued to rise, reaching Rs 2,000 per sq.ft in 2007, an increase of 17%. By 2012, the value was Rs 6,500 per sq.ft, reflecting a substantial 225% increase from 2007. However, it then decreased to Rs 4,355 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 6,500 per sq.ft in 2023, and finally, it is now Rs 7,100 per sq.ft in 2024, showing an increase of 9% from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 355%. The register has no figures for the years not listed in this article.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO, with guideline values for 2024 ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value is Rs 5,800 per sq.ft, making the 2024 figure for West Avenue above that median.

• Wahab Street: Rs 6,300 per sq.ft (2024)
• West Mada Street: Rs 5,300 per sq.ft (2024)
• West Namasivayapuram 1st Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 2nd Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 3rd Street: Rs 3,800 per sq.ft (2024)
• West Namasivayapuram 4th Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in West Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, leading to a total of Rs 6,39,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers West Avenue?

The Sub Registrar Office that covers West Avenue is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Puliyur. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is registered, the guideline value is considered to assess the applicable charges. This ensures that both parties are aware of the financial implications of the transaction, based on the established guideline value for the area.

Frequently asked questions

What is the current guideline value of West Avenue?

The current guideline value of West Avenue is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,561 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 355% over the years.

What is the land classification for West Avenue?

West Avenue is classified as Residential Special Type - II under the Kodambakkam SRO.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 6,39,000, based on the applicable rates.

Which office handles registrations for West Avenue?

The Kodambakkam Sub Registrar Office handles registrations for West Avenue, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.