Guideline Value for SBK AVENUE PHASE II

Sbk Avenue Phase II guideline value

The current guideline value of Sbk Avenue Phase II in Vellarai village, under the Sriperumpudur SRO, is Rs 400 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Type - III.

How the guideline value of Sbk Avenue Phase II has changed

In the 2017 revision, the guideline value was set at Rs 268 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded a value of Rs 400 per sq.ft. The 2024 revision continued this trend, maintaining the guideline value at Rs 400 per sq.ft, resulting in a total increase of 49% from the 2017 revision to the 2024 revision.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for Sbk Avenue Phase II. Therefore, the changes in guideline value are only reflected from the 2017 revision onward.

Guideline values in Vellarai

In Vellarai, there are 20 streets under the Sriperumpudur SRO that carry a 2024 guideline value, ranging from Rs 110 to Rs 1,500 per sq.ft. The median guideline value for these streets is Rs 300 per sq.ft, placing Sbk Avenue Phase II's 2024 figure above this median.

• Sbk Avenue Phase I: Rs 400 per sq.ft (2024)
• Royal Lands Co-op Maha Nagar Phase II: Rs 600 per sq.ft (2024)
• Rajrukh Enclave: Rs 300 per sq.ft (2024)
• Srimathi city: Rs 300 per sq.ft (2024)
• Pokkisham Nagar: Rs 300 per sq.ft (2024)
• Mettu Street: Rs 110 per sq.ft (2024)

Stamp duty and registration fee for property in Sbk Avenue Phase II

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, bringing the total fees to Rs 36,000. 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 on calculating fees.

Which Sub Registrar Office covers Sbk Avenue Phase II?

The Sub Registrar Office that covers Sbk Avenue Phase II is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Vellarai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sbk Avenue Phase II?

The current guideline value of Sbk Avenue Phase II is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 49%, moving from Rs 268 per sq.ft to Rs 400 per sq.ft in 2024. The 2023 revision maintained the same value as 2024.

What is the land classification for Sbk Avenue Phase II?

Sbk Avenue Phase II is classified as Mixed Type - III, indicating a diverse range of land uses in the area.

Where can I find the Sub Registrar Office for Sbk Avenue Phase II?

The Sub Registrar Office covering Sbk Avenue Phase II is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Vellarai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 4,00,000, the stamp duty at 7% would be Rs 28,000.