Guideline Value for SBK AVENUE PHASE I

Sbk Avenue Phase I guideline value

The current guideline value of Sbk Avenue Phase I is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Vellarai village, under the Sriperumpudur SRO, with a land classification of Mixed Type - III.

How the guideline value of Sbk Avenue Phase I has changed

Over the years, the guideline value for Sbk Avenue Phase I has seen several revisions. The 2017 revision set the value at Rs 268 per sq.ft, which remained unchanged at Rs 400 per sq.ft during the 2023 revision. The latest revision in 2024 also maintains the guideline value at Rs 400 per sq.ft, indicating a 0% change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2017 to 2024, the guideline value has increased by 49% as well. The register has no figure for this street in the years 2002, 2003, 2007, and 2012.

Guideline values in Vellarai

In Vellarai village, there are 20 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 110 to Rs 1,500 per sq.ft. The median value for these streets is Rs 300 per sq.ft, positioning Sbk Avenue Phase I above this median.

• Sbk Avenue Phase II: 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 I

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 is charged at 7%, which totals Rs 28,000, and the registration fee is charged at 2%, amounting to Rs 8,000. Together, the total cost for stamp duty and registration fee would be Rs 36,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sbk Avenue Phase I?

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

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

The guideline value is a crucial factor during the registration process when buying or selling property in Vellarai. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This ensures that the transaction is properly documented and that the government receives its due taxes.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft from 2023 to 2024, and it increased by 49% from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2024.

What is the land classification for Sbk Avenue Phase I?

The land classification for Sbk Avenue Phase I is Mixed Type - III.

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

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

How is the stamp duty calculated for properties in Sbk Avenue Phase I?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 400 per sq.ft, the stamp duty would be Rs 28,000.