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 Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this area is 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 seen several revisions over the years. The 2012 revision set the value at Rs 900 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 603 per sq.ft, marking a decrease of 33%. In 2023, the value increased to Rs 900 per sq.ft, and the latest revision in 2024 raised it further to Rs 990 per sq.ft, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, showcasing a significant rise over that period. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value figure, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value is Rs 990 per sq.ft, which is equal to the current value for S.K.R. Avenue.

• 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 1,320 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 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.

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

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 information.

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

The guideline value is a crucial factor when buying or selling property in Panangottur, as it determines the minimum value at which a property can be registered. Buyers must be aware that the guideline value is used to calculate stamp duty and registration fees, which are essential costs in any property transaction.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the actual sale price. This ensures that the government receives revenue based on the property's assessed value, regardless of the negotiated sale price.

Frequently asked questions

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

The current guideline value of 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 back 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?

The land classification for S.K.R. Avenue (Ward -19) is Residential Class I Type - II.

What are the stamp duty and registration fees for property in S.K.R. Avenue?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 990 per sq.ft, the total stamp duty and registration fees would amount to Rs 89,100.

Which office handles property registrations for S.K.R. Avenue?

The Chengleput Joint II Sub Registrar Office handles property registrations for S.K.R. Avenue (Ward -19), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.