Guideline Value for S&P Residency

S&P Residency guideline value

The current guideline value of S&P Residency, located in 44.Ayanambakkam village under the Konnur SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of S&P Residency has changed

The guideline value of S&P Residency has undergone several revisions since 2017. In 2017, the guideline value was Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in 2023, marking a significant rise of 49%. The most recent revision in 2024 saw the guideline value increase to Rs 2,200 per sq.ft, reflecting a 10% increase from 2023.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in 44.Ayanambakkam

In 44.Ayanambakkam, there are a total of 157 streets under the Konnur SRO, with guideline values ranging from Rs 801 to Rs 9,702 per sq.ft as of 2024. The median guideline value in this area is Rs 1,300 per sq.ft, placing S&P Residency's 2024 figure above that median.

• Sri Devi Karumariamman Nagar: Rs 1,100 per sq.ft (2024)
• Sri Devi Karumariamman Nagar 1st Street: Rs 1,100 per sq.ft (2024)
• Sri Devi Karumariamman Nagar 2nd Street: Rs 1,100 per sq.ft (2024)
• Sivapadam Street: Rs 1,200 per sq.ft (2024)
• Sri Ganseh Nagar: Rs 880 per sq.ft (2024)
• Sri Padavattamman Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in S&P Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S&P Residency?

The S&P Residency is covered by the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 44.Ayanambakkam

The guideline value serves as a benchmark for property transactions in 44.Ayanambakkam. When a property is registered, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated fairly based on the official rates.

Buyers and sellers must be aware that the guideline value can influence the overall cost of property transactions. It is essential to consider this value when negotiating sale prices, as it is a critical factor in the registration process.

Frequently asked questions

What is the current guideline value of S&P Residency?

The current guideline value of S&P Residency is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64% during this period.

What are the other streets in 44.Ayanambakkam?

Other streets in 44.Ayanambakkam include Sri Devi Karumariamman Nagar, Sri Devi Karumariamman Nagar 1st Street, Sri Devi Karumariamman Nagar 2nd Street, Sivapadam Street, Sri Ganseh Nagar, and Sri Padavattamman Nagar, with varying guideline values.

What is the registration fee for properties in S&P Residency?

The registration fee for properties in S&P Residency is calculated at 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for S&P Residency?

The Sub Registrar Office covering S&P Residency is the Konnur Sub Registrar Office, located at Sub Register Office, Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.