Guideline Value for star avenue

Star Avenue guideline value

The current guideline value of Star Avenue, located in Irunkattukottai village under the Sriperumpudur SRO, is Rs 600 per sq.ft. This value is effective from the 2024 revision, which will take effect on 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Star Avenue has changed

The guideline value of Star Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 600 per sq.ft. The 2017 revision marked a significant change, lowering the value to Rs 402 per sq.ft, a decrease of 33% from the previous 2012 value. From 2017 to 2023, there was a notable increase of 49%, bringing the value back to Rs 600 per sq.ft.

Looking at the most recent revisions, the 2024 revision maintains the guideline value at Rs 600 per sq.ft, showing no change from the 2023 figure. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Irunkattukottai

In Irunkattukottai village, there are 56 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 250 to Rs 1,250 per sq.ft. The median guideline value for these streets is Rs 400 per sq.ft, placing Star Avenue's 2024 figure above that median.

• Subrabath Nagar: Rs 400 per sq.ft (2024)
• Sri Kamacthi Nagar: Rs 600 per sq.ft (2024)
• Sri Gajalaxmi Nagar: Rs 400 per sq.ft (2024)
• Thiruvalluvar Nagar: Rs 500 per sq.ft (2024)
• Thiruvalluvar Street: Rs 400 per sq.ft (2024)
• Sivan Koil Street: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Star Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees to Rs 54,000. It is important to note that the 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 Star Avenue?

The Sub Registrar Office that covers Star Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Irunkattukottai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When registering a property, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government collects the appropriate fees based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Star Avenue?

The current guideline value of Star Avenue is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 600 per sq.ft since 2012, with a decrease to Rs 402 per sq.ft in 2017, followed by an increase back to Rs 600 per sq.ft in 2023.

What is the land classification for Star Avenue?

The land classification for Star Avenue is Residential Class I Type - I, indicating its suitability for residential development.

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

For a 1,000 sq.ft property, the total fees would amount to Rs 54,000, which includes Rs 42,000 for stamp duty and Rs 12,000 for the registration fee.

Where is the Sub Registrar Office for Star Avenue located?

The Sub Registrar Office for Star Avenue is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.