Guideline Value for S.K.Avenue

S.K.Avenue guideline value

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

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

The guideline value for S.K.Avenue has undergone several revisions over the years. In the 2007 revision, the value was Rs 50 per sq.ft, which saw a significant increase to Rs 750 per sq.ft in the 2012 revision. However, this figure dropped by 33% to Rs 502 per sq.ft in the 2017 revision. The 2023 revision marked a rise to Rs 750 per sq.ft, followed by a further increase of 11% to the current value of Rs 830 per sq.ft in 2024.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1560%. The register has no figures for the years 2002 and 2003 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 value is Rs 830 per sq.ft, which is equal to the current value of S.K.Avenue.

• S K Avenue S.No 426/2b, 426/2b1, 426/2b1b, 426/2b1a1c: Rs 3,300 per sq.ft (2024)
• Sivasakthi Nagar: Rs 660 per sq.ft (2024)
• Sivan Nagar: Rs 1,320 per sq.ft (2024)
• Spn Avenue: Rs 3,300 per sq.ft (2024)
• Sirumathur Road: Rs 1,320 per sq.ft (2024)
• Sri Balaji Nagar: Rs 830 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 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, making the total cost for these fees Rs 74,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

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 details.

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

The guideline value is an essential factor during property registration in Padappai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that both buyers and sellers comply with the legal requirements.

When buying or selling property, the guideline value helps in establishing a fair price for the property transaction. It is crucial for buyers to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

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

The current guideline value of S.K.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 increased from Rs 50 per sq.ft in 2007 to Rs 830 per sq.ft in 2024, showing a significant overall increase of 1560% over this period.

What is the land classification for S.K.Avenue?

S.K.Avenue is classified as Residential Class III Type - I, indicating its designation for residential use.

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 property in S.K.Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 8,30,000, the stamp duty would be Rs 58,100 at 7%.