Guideline Value for S.K.Avenue

S.K.Avenue guideline value

The current guideline value of S.K.Avenue in Mudichur village, under the Padappai SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

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

The guideline value for S.K.Avenue has seen significant changes over the years. In 2007, the value was Rs 150 per sq.ft, which rose dramatically to Rs 2,000 per sq.ft by 2012, marking an increase of 1233%. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. Following this, the value increased to Rs 2,000 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 has set the value at Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 1367%.

Guideline values in Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO that carry a guideline value for 2024, ranging from Rs 880 to Rs 4,000 per sq.ft. The median value is Rs 2,200 per sq.ft, which matches the guideline value of S.K.Avenue.

• Sivavishnu Nagar: Rs 2,200 per sq.ft (2024)
• Sivajothi Nagar: Rs 1,210 per sq.ft (2024)
• Sree Balaji Nagar: Rs 2,200 per sq.ft (2024)
• Sri Durga Avenue: Rs 1,210 per sq.ft (2024)
• Sri Ishwaryam Garden: Rs 1,760 per sq.ft (2024)
• Shanthi Nagar: Rs 2,200 per sq.ft (2024)

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

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 or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers S.K.Avenue?

The Sub Registrar Office covering S.K.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 information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the value of the property as determined by the local authorities. This ensures transparency and compliance with legal requirements during property transactions.

Frequently asked questions

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

The current guideline value of S.K.Avenue 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 significantly, from Rs 150 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, marking an overall increase of 1367%.

What is the classification of land in S.K.Avenue?

The land classification for S.K.Avenue is Residential Special Type - I.

Where can I find the registration office for S.K.Avenue?

The registration office for S.K.Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Mudichur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.