Guideline Value for S.P.Avenue Phase - II Extension

S.P.Avenue Phase - II Extension guideline value

The current guideline value for S.P.Avenue Phase - II Extension is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Puthur village and falls under the Tambaram Joint 1 SRO, classified as Residential Class I Type - I.

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

The guideline value for S.P.Avenue Phase - II Extension has undergone several revisions over the years. In 2012, the value was Rs 700 per sq.ft, which decreased to Rs 469 per sq.ft in 2017, marking a decline of 33%. The value then saw a significant increase to Rs 700 per sq.ft in 2023, followed by another rise to Rs 770 per sq.ft in 2024, reflecting a 10% increase from the previous year.

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

Guideline values in Puthur

In Puthur, there are 63 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 330 to Rs 4,600 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for S.P.Avenue Phase - II Extension is below this median.

• S.P. Avenue Phase - II: Rs 770 per sq.ft (2024)
• S.P.Avenue Phase - III: Rs 770 per sq.ft (2024)
• Sp Avenue Phase I: 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 Extension

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 cost to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

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

The S.P.Avenue Phase - II Extension 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. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Puthur. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When a property is sold, the guideline value helps to establish a fair price for taxation purposes. Buyers and sellers must consider this value, as it can impact the overall costs involved in the transaction, including the stamp duty and registration fees.

Frequently asked questions

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

The current guideline value for S.P.Avenue Phase - II Extension 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 increased 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 Extension?

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

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is 2% of the guideline value. For example, for a 1,000 sq.ft plot, the total costs can amount to Rs 69,300.

Which office handles registrations for S.P.Avenue Phase - II Extension?

The Tambaram Joint 1 Sub Registrar Office handles registrations for S.P.Avenue Phase - II Extension, located at No.26, Mes Road, East Tambaram, Chennai-600059.