Guideline Value for S.P. Avenue Phase - II

S.P. Avenue Phase - II guideline value

The current guideline value of S.P. Avenue Phase - II is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Puthur village and falls under the Tambaram Joint 1 SRO with a land classification of Residential Class I Type - I.

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

The guideline value for S.P. Avenue Phase - II has seen several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value back to Rs 700 per sq.ft, and the most recent 2024 revision further raised it to Rs 770 per sq.ft, marking a 10% increase from the previous year. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The significant change observed was a 49% increase from the 2017 revision to the 2023 revision, indicating fluctuations in the guideline value over the years.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO, with guideline values for 2024 ranging from Rs 330 to Rs 4,600 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing S.P. Avenue Phase - II's 2024 figure below that median.

• S.P.Avenue Phase - II Extension: Rs 770 per sq.ft (2024)
• Sp Avenue Phase I: Rs 770 per sq.ft (2024)
• S.P.Avenue Phase - III: Rs 770 per sq.ft (2024)
• S.P. Avenue Phase-III Extension: Rs 1,100 per sq.ft (2024)
• S.P. Avenue Phase IV: Rs 1,100 per sq.ft (2024)
• Sri Balaji Nagar: Rs 770 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers S.P. Avenue Phase - II?

The S.P. Avenue Phase - II is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Puthur. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that must be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. The registration office relies on these values to ensure that the appropriate fees are collected based on the property's worth as defined by the guideline value.

Frequently asked questions

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

The current guideline value of S.P. Avenue Phase - II is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then back to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for S.P. Avenue Phase - II?

S.P. Avenue Phase - II is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in S.P. Avenue Phase - II?

Stamp duty for properties in S.P. Avenue Phase - II is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 7,70,000, leading to a stamp duty of Rs 53,900.