Guideline Value for SHANMUGA AVENUE

Shanmuga Avenue guideline value

The current guideline value of Shanmuga Avenue in Puthagaram village, under the Ambattur SRO, is Rs 3,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Shanmuga Avenue has changed

In the 2017 revision, the guideline value was Rs 1,876 per sq.ft. This figure increased significantly to Rs 2,800 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 has set the guideline value at Rs 3,000 per sq.ft, reflecting a 7% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 60%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Puthagaram

Puthagaram village has 140 streets under the Ambattur SRO carrying a 2024 guideline value ranging from Rs 1,200 to Rs 3,800 per sq.ft, with a median value of Rs 1,900 per sq.ft. The guideline value of Shanmuga Avenue is above this median.

• Shravanthi City: Rs 2,201 per sq.ft (2024)
• Sivaji Nagar: Rs 2,200 per sq.ft (2024)
• S.B.O.A .Teachers Nagar: Rs 2,200 per sq.ft (2024)
• Sathyanagar Anex: Rs 3,000 per sq.ft (2024)
• Sivasakthivelan Nagar: Rs 3,000 per sq.ft (2024)
• Sathya Nagar: Rs 3,000 per sq.ft (2024)

Stamp duty and registration fee for property in Shanmuga Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,000 per sq.ft, the total guideline value would be Rs 30,00,000. The stamp duty at 7% would be Rs 2,10,000, and the registration fee at 2% would be Rs 60,000, bringing the total fees to Rs 2,70,000. 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 more information.

Which Sub Registrar Office covers Shanmuga Avenue?

The Sub Registrar Office that covers Shanmuga Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Puthagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are based on the higher of the guideline value or the sale price, ensuring that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shanmuga Avenue?

The current guideline value of Shanmuga Avenue is Rs 3,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,876 per sq.ft in 2017 to Rs 3,000 per sq.ft in 2024, reflecting a total increase of 60% over these years.

What is the land classification for Shanmuga Avenue?

The land classification for Shanmuga Avenue is Residential Special Type - II.

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

The Sub Registrar Office for Shanmuga Avenue is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for property in Shanmuga Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 2,10,000.