Guideline Value for SAKTHI AVENUE

Sakthi Avenue guideline value

The current guideline value of Sakthi Avenue, located in Ekkaduthangal village, is Rs 3,520 per sq.ft as per the 2024 revision, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Residential Class III Type - I.

How the guideline value of Sakthi Avenue has changed

Over the years, the guideline value for Sakthi Avenue has seen several revisions. The 2012 revision set the value at Rs 3,200 per sq.ft, which decreased to Rs 2,144 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 3,200 per sq.ft. The most recent revision in 2024 has further increased the guideline value by 10% to Rs 3,520 per sq.ft.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO with a 2024 guideline value range from Rs 3,080 to Rs 8,800 per sq.ft. The median value for these streets is Rs 4,620 per sq.ft, indicating that Sakthi Avenue's 2024 figure is below this median.

• Saminathan Road: Rs 3,520 per sq.ft (2024)
• Sannathi Street: Rs 4,620 per sq.ft (2024)
• Reddy Street Ist Street: Rs 3,520 per sq.ft (2024)
• Reddy Street 3rd Street: Rs 3,520 per sq.ft (2024)
• Reddy Street 2nd Street: Rs 3,520 per sq.ft (2024)
• Reddy Street: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,520 per sq.ft, the total guideline value amounts to Rs 35,20,000. The stamp duty at 7% would be Rs 2,46,400, and the registration fee at 2% would be Rs 70,400, making the total cost Rs 3,16,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for accurate calculations.

Which Sub Registrar Office covers Sakthi Avenue?

Sakthi Avenue is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. For more information, you can find your SRO.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Ekkaduthangal. It serves as a benchmark for determining the minimum value at which the property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sakthi Avenue?

The current guideline value of Sakthi Avenue is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,200 per sq.ft in 2012 to Rs 2,144 per sq.ft in 2017, then increased to Rs 3,200 per sq.ft in 2023, and finally to Rs 3,520 per sq.ft in 2024.

What are the stamp duty and registration fees for property in Sakthi Avenue?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 3,16,800.

Which office handles registrations for Sakthi Avenue?

The Chennai South Joint I Sub Registrar Office handles registrations for Sakthi Avenue, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Sakthi Avenue?

Sakthi Avenue is classified as Residential Class III Type - I, indicating its use for residential purposes within the area.