Guideline Value for PHOENIX CITY

Phoenix City guideline value

The current guideline value of Phoenix City, located in Bunrutti A village under the Walajabad SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Phoenix City has changed

The guideline value for Phoenix City has undergone several revisions over the years. The register does not contain figures for this street in the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision in 2024 set the guideline value at Rs 1,200 per sq.ft.

There have been no changes in the guideline value between the revisions mentioned above. The 2024 revision marks the first recorded value for this street in the register.

Guideline values in Bunrutti A

In Bunrutti A, there are 10 streets under the Walajabad SRO that have a guideline value for 2024, ranging from Rs 400 to Rs 1,200 per sq.ft. The median guideline value for these streets is Rs 425 per sq.ft, placing Phoenix City's 2024 figure above that median.

• Siddarth Avenue: Rs 400 per sq.ft (2024)
• Sri Chakra Gardens Farm Land: Rs 500 per sq.ft (2024)
• Sri Devi Karumari Amman Nagar: Rs 450 per sq.ft (2024)
• Sri Ponni Farm Garden: Rs 500 per sq.ft (2024)
• Indira Nagar: Rs 400 per sq.ft (2024)
• Unnamed Layout S.No:645/2a,2b,2c,2a1: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Phoenix City

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Phoenix City?

The Sub Registrar Office covering Phoenix City is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Bunrutti A. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When a property is sold, the guideline value or the sale price is considered, and the higher of the two is used for the calculation of applicable duties. This ensures that the registration reflects a value that is compliant with the established guidelines.

Frequently asked questions

What is the current guideline value of Phoenix City?

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

What is the land classification for Phoenix City?

The land classification for Phoenix City is Residential Special Type - III.

How has the guideline value changed over the years?

The guideline value for Phoenix City was not recorded in the years 2002, 2003, 2007, 2012, 2017, and 2023. The current value of Rs 1,200 per sq.ft was established in the 2024 revision.

What are the other streets in Bunrutti A?

Other streets in Bunrutti A under the Walajabad SRO include Siddarth Avenue, Sri Chakra Gardens Farm Land, Sri Devi Karumari Amman Nagar, Sri Ponni Farm Garden, Indira Nagar, and an unnamed layout.

How is the stamp duty calculated in Phoenix City?

Stamp duty in Phoenix City is calculated based on the higher of the guideline value or the sale price. For instance, a property with a guideline value of Rs 12,00,000 would incur a stamp duty of Rs 84,000 at 7%.