Guideline Value for Doctor Avenue

Doctor Avenue guideline value

The current guideline value of Doctor Avenue in Somangalam_B village is Rs 250 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class II Type - I.

How the guideline value of Doctor Avenue has changed

In the 2017 revision, the guideline value for Doctor Avenue was Rs 167 per sq.ft. This value remained unchanged at Rs 250 per sq.ft during the 2023 revision and has been set at the same rate for the 2024 revision. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, there was a 50% increase in the guideline value, and from 2017 to 2024, the overall increase is also 50%. However, there has been no change from 2023 to 2024, maintaining the guideline value at Rs 250 per sq.ft.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 2,500 per sq.ft. The median value for these streets is Rs 250 per sq.ft, which is equal to the current guideline value of Doctor Avenue.

• Doctors Avenue Annexe-I: Rs 400 per sq.ft (2024)
• Dr.APJ Abdul Kalam Nagar: Rs 250 per sq.ft (2024)
• Dharmashastha Nagar: Rs 150 per sq.ft (2024)
• Chinnasamy Nagar: Rs 200 per sq.ft (2024)
• Ganapathy Farm House Site: Rs 400 per sq.ft (2024)
• Ganapathy Farm Lands: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Doctor Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, totaling Rs 22,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Doctor Avenue?

Doctor Avenue is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration process when buying or selling property in Somangalam_B. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the associated fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Doctor Avenue?

The current guideline value of Doctor Avenue is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Doctor Avenue has remained at Rs 250 per sq.ft from 2023 to 2024, with a 50% increase from Rs 167 per sq.ft in 2017 to Rs 250 per sq.ft in 2023.

What is the land classification of Doctor Avenue?

Doctor Avenue is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the registration office for Doctor Avenue?

The registration office covering Doctor Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Somangalam_B?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 2,50,000 would incur a stamp duty of Rs 17,500 at 7%.