Guideline Value for Highway Avenue

Highway Avenue guideline value

The current guideline value of Highway Avenue in Sethupattu village is Rs 200 per sq.ft, effective from 1 July 2024. This area falls under the Sriperumpudur SRO and is classified as Residential Special Type - II.

How the guideline value of Highway Avenue has changed

Over the years, the guideline value of Highway Avenue has undergone several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 200 per sq.ft. The 2017 revision saw a decrease to Rs 134 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 200 per sq.ft. The most recent revision in 2024 has maintained this value, showing no change from the previous year. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 200 per sq.ft.

Guideline values in Sethupattu

Sethupattu village has 23 streets under the Sriperumpudur SRO, with 2024 guideline values ranging from Rs 150 to Rs 1,500 per sq.ft. The median value for these streets is Rs 300 per sq.ft, indicating that Highway Avenue's 2024 figure is below this median.

• Green City: Rs 1,500 per sq.ft (2024)
• Dr.Abdul kalam nagar: Rs 200 per sq.ft (2024)
• Bungalow street: Rs 300 per sq.ft (2024)
• Mahalakshmi Nagar (Phase-I) (EDEN GARDEN): Rs 1,300 per sq.ft (2024)
• Mahalakshmi Nagar (Phase-II) in Eden Garden: Rs 1,300 per sq.ft (2024)
• Maruthi Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Highway Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Highway Avenue?

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

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

The guideline value is a crucial factor in the registration process when buying or selling property in Sethupattu. It is used to determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees, ensuring that the transaction is in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Highway Avenue?

The current guideline value of Highway Avenue is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft since 2012, with a decrease to Rs 134 per sq.ft in 2017, followed by a return to Rs 200 per sq.ft in 2023 and 2024.

What is the land classification of Highway Avenue?

The land classification for Highway Avenue is Residential Special Type - II, as per the guidelines set by the Sriperumpudur SRO.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value or sale price. For example, a 1,000 sq.ft plot at Rs 200 per sq.ft incurs a total fee of Rs 18,000.

Which office handles the registration for Highway Avenue?

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