Guideline Value for S.K.R. AVENUE (WARD -19)

S.K.R. Avenue (Ward -19) guideline value

The current guideline value of S.K.R. Avenue (Ward -19) is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village under the Chengleput Joint II SRO and is classified as Residential Class I Type - II.

How the guideline value of S.K.R. Avenue (Ward -19) has changed

The guideline value for S.K.R. Avenue has undergone several revisions over the years. In 2012, the guideline value was set at Rs 900 per sq.ft. This figure remained unchanged until the next revision in 2017, where it decreased to Rs 603 per sq.ft, marking a significant drop of 33%. The value then rose to Rs 900 per sq.ft in the 2023 revision, before reaching the current rate of Rs 990 per sq.ft in 2024, reflecting an increase of 10% from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, comparing the figures from 2012 to 2024, there has been a modest increase of 10%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft as per the 2024 revision. The median guideline value in this area is Rs 1,100 per sq.ft, indicating that the 2024 figure for S.K.R. Avenue is below this median.

• South Ganapathy Nagar (Pa): Rs 660 per sq.ft (2024)
• Sinthamani Nagar (Sa): Rs 440 per sq.ft (2024)
• Sinthamani Nagar (Per): Rs 440 per sq.ft (2024)
• Sinthamani Nagar Annex (Sa): Rs 440 per sq.ft (2024)
• Sinthamani Nagar Annex (Pa): Rs 660 per sq.ft (2024)
• Singaravelan Street (Ward -7): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in S.K.R. Avenue (Ward -19)

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, bringing the total cost for these fees to Rs 89,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.K.R. Avenue (Ward -19)?

The Sub Registrar Office that covers S.K.R. Avenue (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is an essential reference point during property transactions in Ninna Karai. When buying or selling property, this value is used to determine the stamp duty and registration fees applicable to the transaction.

It is crucial for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of the property transaction. The registration process will require adherence to these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value for S.K.R. Avenue (Ward -19)?

The current guideline value for S.K.R. Avenue (Ward -19) is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

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

S.K.R. Avenue is classified as Residential Class I Type - II, which indicates its suitability for residential purposes.

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

The Sub Registrar Office for S.K.R. Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value would incur a stamp duty of Rs 69,300.