Guideline Value for SAIDANYA AVENUE

Saidanya Avenue guideline value

The current guideline value of Saidanya Avenue, located in Palavakkam village under the Neelankarai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

How the guideline value of Saidanya Avenue has changed

The guideline value for Saidanya Avenue has seen significant changes over the years. In 2002, the value was Rs 240 per sq.ft, which increased to Rs 268 per sq.ft in 2003. Following this, the value rose dramatically to Rs 1,200 per sq.ft in 2007, marking an increase of 348%. The value then continued to increase to Rs 3,000 per sq.ft in 2012, reflecting a 150% rise. However, from 2012 to 2017, the guideline value decreased to Rs 2,010 per sq.ft, a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 1,275%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Palavakkam

In Palavakkam, there are 349 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which is equal to the current value of Saidanya Avenue.

• Sai Baba Street: Rs 3,300 per sq.ft (2024)
• Sadik Basha Street: Rs 2,200 per sq.ft (2024)
• R.S.L.Salai/Road: Rs 1,700 per sq.ft (2024)
• Sangarapuram 1st Street: Rs 3,900 per sq.ft (2024)
• Sangarapuram 2nd Street: Rs 3,900 per sq.ft (2024)
• Santhi Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Saidanya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. 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 Saidanya Avenue?

The Sub Registrar Office that covers Saidanya Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential reference point during property transactions in Palavakkam. It is used to determine the stamp duty and registration fees that need to be paid when registering a property. Buyers and sellers should be aware that the guideline value can influence the overall cost of the transaction.

When a property is sold, the guideline value serves as a benchmark for the sale price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Saidanya Avenue?

The current guideline value of Saidanya Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 240 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, which is an overall increase of 1,275%.

What are the stamp duty and registration fees for properties in Saidanya Avenue?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Saidanya Avenue?

The Neelankarai Sub Registrar Office handles property registrations for Saidanya Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It serves as a benchmark for the sale price, influencing the overall cost of the transaction.