Guideline Value for S.J. Avenue

S.J. Avenue guideline value

The current guideline value of S.J. Avenue, located in Kolathur village under the Sembiam SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class II Type - I land classification.

How the guideline value of S.J. Avenue has changed

The guideline value for S.J. Avenue has seen several revisions over the years. Starting from Rs 291 per sq.ft in 2002, it increased to Rs 316 per sq.ft in 2003, marking a 9% rise. The value then saw a significant jump to Rs 900 per sq.ft in 2007, reflecting a remarkable 185% increase. By 2012, the guideline value reached Rs 2,500 per sq.ft, which was an increase of 178% from the previous revision.

In the latest revision of 2024, the guideline value stands at Rs 2,700 per sq.ft, representing an 8% increase from 2012. Overall, from 2002 to 2024, the guideline value has surged by 828%. It is important to note that there are no figures available for the years 2017 and 2023 for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. S.J. Avenue's current guideline value is below this median.

• Sivasakthi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 6th Street: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar 5th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in S.J. Avenue

For a property measuring 1,000 sq.ft at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Please note that the 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 S.J. Avenue?

The S.J. Avenue is covered by the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property for taxation purposes. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of S.J. Avenue?

The current guideline value of S.J. Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 291 per sq.ft to Rs 2,700 per sq.ft in 2024, reflecting an overall increase of 828% over the years.

What is the land classification of S.J. Avenue?

S.J. Avenue is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Sembiam Sub Registrar Office located?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011.

How is stamp duty calculated for properties in S.J. Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000.