Guideline Value for SB Avenue

SB Avenue guideline value

The current guideline value of SB Avenue in Poonthamallee village, under the Poonamallee SRO, is Rs 2,740 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of SB Avenue has changed

Over the years, the guideline value of SB Avenue has undergone several revisions. The 2007 revision set the value at Rs 600 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012, marking a 317% rise. However, between 2012 and 2017, the value decreased to Rs 1,675 per sq.ft, reflecting a 33% drop. The 2017 revision then saw a substantial increase to Rs 2,500 per sq.ft in 2023, followed by a further rise to Rs 2,740 per sq.ft in 2024, which is a 10% increase from the previous year.

In summary, from 2007 to 2024, the overall guideline value has increased by 357%. The revisions for the years 2002 and 2003 do not have figures recorded for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value is Rs 2,200 per sq.ft, placing SB Avenue's 2024 figure above this median. Below are the guideline values for other streets in Poonthamallee:

• Seethapathi street: Rs 2,740 per sq.ft (2024)
• Saravana nagar: Rs 2,200 per sq.ft (2024)
• Sarathi nagar: Rs 2,200 per sq.ft (2024)
• Sannadhi street: Rs 2,200 per sq.ft (2024)
• Sesha nagar: Rs 2,200 per sq.ft (2024)
• Shankar Nagar: Rs 2,210 per sq.ft (2024)

Stamp duty and registration fee for property in SB Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,740 per sq.ft, the total guideline value amounts to Rs 27,40,000. The stamp duty at 7% would be Rs 1,91,800, and the registration fee at 2% would be Rs 54,800, bringing the total to Rs 2,46,600. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SB Avenue?

The Sub Registrar Office that covers SB Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When you buy or sell property, the guideline value is used to calculate the applicable charges, ensuring that the transaction is recorded accurately in the official records. This helps maintain transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value of SB Avenue?

The current guideline value of SB Avenue is Rs 2,740 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes: it was Rs 600 per sq.ft in 2007, increased to Rs 2,500 in 2012, dropped to Rs 1,675 in 2017, rose to Rs 2,500 in 2023, and finally reached Rs 2,740 in 2024.

What is the median guideline value in Poonthamallee?

The median guideline value in Poonthamallee is Rs 2,200 per sq.ft, with SB Avenue's 2024 figure being above this median.

What are the stamp duty and registration fees for SB Avenue?

The stamp duty for a property in SB Avenue is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total stamp duty and registration fees would amount to Rs 2,46,600.

Which office handles registrations for SB Avenue?

The Poonamallee Sub Registrar Office handles registrations for SB Avenue, located at No.332 U + 9cc Malma Nagar Poonallee Chennai - 600056.