Guideline Value for Z L M J Avenue

Z L M J Avenue guideline value

The current guideline value of Z L M J Avenue in Varadarajapuram village is Rs 990 per sq.ft, effective from 1 July 2024. This street falls under the Padappai Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Z L M J Avenue has changed

The guideline value for Z L M J Avenue has undergone several revisions over the years. In 2007, the guideline value was Rs 270 per sq.ft. This increased significantly to Rs 900 per sq.ft in 2012, marking a rise of 233%. However, between 2012 and 2017, the value decreased to Rs 603 per sq.ft, which is a decline of 33%. The subsequent revision in 2023 saw the value rise to Rs 900 per sq.ft, followed by a further increase to Rs 990 per sq.ft in 2024, reflecting a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 267%. The revisions for the years 2002 and 2003 do not have any figures recorded for this street.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,100 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Z L M J Avenue is below this median.

• Wax Pattanam: Rs 1,100 per sq.ft (2024)
• Walajabad Main Road: Rs 3,300 per sq.ft (2024)
• V.M. Garden - S.No.505: Rs 990 per sq.ft (2024)
• V.M.Garden Phase -II: Rs 1,330 per sq.ft (2024)
• V.M. Garden: Rs 1,650 per sq.ft (2024)
• Vishwak Gold City: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Z L M J Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total to Rs 89,100. 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 more details.

Which Sub Registrar Office covers Z L M J Avenue?

Z L M J Avenue is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Varadarajapuram. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers and sellers should be aware that the guideline value is the baseline for these calculations.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which is essential for both taxation and legal purposes. It is advisable for buyers to familiarize themselves with the current guideline values to ensure they are making informed decisions.

Frequently asked questions

What is the current guideline value of Z L M J Avenue?

The current guideline value of Z L M J Avenue is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 270 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, reflecting an overall increase of 267% over the years.

What is the land classification of Z L M J Avenue?

Z L M J Avenue is classified as Residential Class III Type - I.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Z L M J Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 9,90,000, leading to a stamp duty of Rs 69,300.