Guideline Value for S S R Avenue

S S R Avenue guideline value

The current guideline value of S S R Avenue, located in Padappai village under the Padappai SRO, is Rs 830 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of S S R Avenue has changed

The guideline value for S S R Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which then decreased to Rs 502 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the guideline value to Rs 750 per sq.ft, and the most recent 2024 revision raised it further to Rs 830 per sq.ft, marking an increase of 11% from the previous year.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 11%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, which is equal to the current value of S S R Avenue.

• StepStone: Rs 3,300 per sq.ft (2024)
• St Nagar: Rs 1,330 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 1,320 per sq.ft (2024)
• Sri Velan Nagar: Rs 830 per sq.ft (2024)
• Sri Thanthoniyamman Nagar: Rs 830 per sq.ft (2024)
• Sri Solai Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in S S R Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total fees together to Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S S R Avenue?

The Sub Registrar Office that covers S S R Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buyers and sellers engage in a transaction, the guideline value is used to calculate the applicable fees, ensuring that both parties are aware of the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value of S S R Avenue?

The current guideline value of S S R Avenue is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification for S S R Avenue?

S S R Avenue is classified as Residential Class III Type - I.

What are the stamp duty and registration fees for property in S S R Avenue?

For a property valued at Rs 8,30,000, the stamp duty would be Rs 58,100 and the registration fee would be Rs 16,600, totaling Rs 74,700.

Where is the Sub Registrar Office for S S R Avenue located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.