Guideline Value for Doctors Avenue Annexe-I

Doctors Avenue Annexe-I guideline value

The current guideline value of Doctors Avenue Annexe-I is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Somangalam village, under the Sriperumpudur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of Doctors Avenue Annexe-I has changed

The guideline value for Doctors Avenue Annexe-I has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the 2023 revision. The 2017 revision recorded a lower value of Rs 268 per sq.ft, reflecting a decrease of 33% from the 2012 figure. The most significant change occurred between the 2017 and 2023 revisions, where the value increased by 49% back to Rs 400 per sq.ft.

As of the 2024 revision, the guideline value remains at Rs 400 per sq.ft, showing no change from the previous year. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Somangalam

In Somangalam, there are 86 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 800 per sq.ft, with a median value of Rs 350 per sq.ft. The guideline value for Doctors Avenue Annexe-I is above this median.

• Doctor Avenue: Rs 250 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 Doctors Avenue Annexe-I

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the stamp duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Doctors Avenue Annexe-I?

The Sub Registrar Office that covers Doctors Avenue Annexe-I 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 Somangalam

The guideline value is a crucial factor in property transactions in Somangalam. It serves as the basis for calculating the stamp duty and registration fees when buying or selling property. Buyers and sellers should be aware that the guideline value may influence the overall costs involved in the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable stamp duty. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Doctors Avenue Annexe-I?

The current guideline value of Doctors Avenue Annexe-I is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft since 2012, with a decrease to Rs 268 per sq.ft in 2017, followed by an increase back to Rs 400 per sq.ft in 2023. The value has not changed from 2023 to 2024.

What is the land classification for Doctors Avenue Annexe-I?

The land classification for Doctors Avenue Annexe-I is Residential Special Type - I, indicating its designation for residential use.

What are the stamp duty rates applicable in this area?

The stamp duty rate for property transactions in Doctors Avenue Annexe-I is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office located for this area?

The Sub Registrar Office covering Doctors Avenue Annexe-I is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.