Guideline Value for SAMBANTHAN AVENUE

Sambanthan Avenue guideline value

The current guideline value of Sambanthan Avenue is Rs 1,540 per sq.ft, effective from 1 July 2024. This street is located in Melpakkam village, under the jurisdiction of the Kunrathur SRO. The land classification for this area is Mixed Type - I.

How the guideline value of Sambanthan Avenue has changed

The guideline value for Sambanthan Avenue has undergone several revisions over the years. The earliest available figure is from the 2017 revision, which was Rs 938 per sq.ft. Following this, the 2023 revision saw an increase to Rs 1,400 per sq.ft, marking a significant jump of 49% from the 2017 figure. The most recent revision in 2024 has set the guideline value at Rs 1,540 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register does not contain figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Melpakkam

In Melpakkam village, there are 17 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,105 per sq.ft. The median guideline value for these streets is Rs 1,540 per sq.ft, which is equal to the current guideline value of Sambanthan Avenue.

• Royal Assets: Rs 2,530 per sq.ft (2024)
• Perumal Koil Street: Rs 440 per sq.ft (2024)
• Nakshatra Garden: Rs 4,105 per sq.ft (2024)
• Vgn Amity: Rs 1,540 per sq.ft (2024)
• Vgn Windsor Park Phase I: Rs 1,210 per sq.ft (2024)
• Vgn Windsor Park Phase II: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Sambanthan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would amount to Rs 1,07,800, while the registration fee at 2% would be Rs 30,800. Together, the total cost for stamp duty and registration fee would be Rs 1,38,600. 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 Sambanthan Avenue?

The Sub Registrar Office that covers Sambanthan Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration process when buying or selling property in Melpakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value set by the government.

When a property is sold, the buyer and seller must consider the guideline value to determine the applicable fees. This value helps maintain transparency in property transactions and ensures that the government receives appropriate revenue from property registrations.

Frequently asked questions

What is the current guideline value of Sambanthan Avenue?

The current guideline value of Sambanthan Avenue is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 938 per sq.ft in 2017 to Rs 1,400 per sq.ft in 2023, and then to Rs 1,540 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What are the other streets in Melpakkam with guideline values?

Other streets in Melpakkam have varying guideline values, ranging from Rs 440 to Rs 4,105 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, which is the same as the guideline value for Sambanthan Avenue.

What fees are associated with buying property in Sambanthan Avenue?

When buying property in Sambanthan Avenue, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sambanthan Avenue?

The Sub Registrar Office for Sambanthan Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find more details online.