Guideline Value for S.K AVENUE PHASE II

S.K Avenue Phase II guideline value

The current guideline value of S.K Avenue Phase II is Rs 701 per sq.ft. This street is located in Kalvai village, under the Thiruporur SRO, and is classified as Commercial Class I Type - I.

How the guideline value of S.K Avenue Phase II has changed

In the 2012 revision, the guideline value was set at Rs 700 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 469 per sq.ft, marking a decrease of 33%. The 2023 revision saw the value rise to Rs 700 per sq.ft again, and in the latest 2024 revision, it increased slightly to Rs 701 per sq.ft, showing no percentage change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, comparing the 2012 figure to the 2024 figure, the guideline value remains unchanged at Rs 701 per sq.ft.

Guideline values in Kalvai

Kalvai village has 31 streets under the Thiruporur SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 1,000 per sq.ft. The guideline value of S.K Avenue Phase II is below this median.

• Sk Avenue: Rs 701 per sq.ft (2024)
• Skandhaguru Avenue: Rs 3,000 per sq.ft (2024)
• Sks-Sekar Square: Rs 1,000 per sq.ft (2024)
• Sri Baba Nagar: Rs 600 per sq.ft (2024)
• Sri Durgha Avenue: Rs 600 per sq.ft (2024)
• Sri Ganesh Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in S.K Avenue Phase II

For a 1,000 sq.ft plot at the current rate of Rs 701 per sq.ft, the guideline value would be Rs 7,01,000. The stamp duty at 7% would amount to Rs 49,070, while the registration fee at 2% would be Rs 14,020, bringing the total to Rs 63,090. It is important to 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.K Avenue Phase II?

The S.K Avenue Phase II falls under the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kalvai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of S.K Avenue Phase II?

The current guideline value of S.K Avenue Phase II is Rs 701 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being an increase from Rs 700 per sq.ft in 2023 to Rs 701 per sq.ft in 2024. The value was Rs 469 per sq.ft in 2017, which marked a significant increase of 49% to reach the 2023 figure.

What are the other streets in Kalvai with their guideline values?

Other streets in Kalvai include Skandhaguru Avenue at Rs 3,000 per sq.ft, Sks-Sekar Square at Rs 1,000 per sq.ft, and Sri Baba Nagar and Sri Durgha Avenue both at Rs 600 per sq.ft, among others.

What fees are associated with buying property in S.K Avenue Phase II?

When buying property in S.K Avenue Phase II, you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for S.K Avenue Phase II?

The Sub Registrar Office covering S.K Avenue Phase II is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.