Guideline Value for SIKARAM AVENUE

Sikaram Avenue guideline value

The current guideline value of Sikaram Avenue, located in Nayakkankuppam village, is Rs 200 per sq.ft. This value is effective from the 2024 revision, which is registered under the Walajabad SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Sikaram Avenue has changed

Over the years, the guideline value of Sikaram Avenue has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 200 per sq.ft. The 2017 revision marked a significant increase to Rs 134 per sq.ft, reflecting a 49% increase from the previous figure. Notably, there are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, but from 2017 to 2023, it increased by 49%. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 200 per sq.ft.

Guideline values in Nayakkankuppam

Nayakkankuppam has 23 streets under the Walajabad SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 403 per sq.ft. The median value is Rs 200 per sq.ft, which is equal to the current guideline value of Sikaram Avenue.

• Smart City: Rs 150 per sq.ft (2024)
• Selva Vignesh Nagar: Rs 150 per sq.ft (2024)
• Sree Sastha Avenue: Rs 150 per sq.ft (2024)
• Sri Babuji Nagar: Rs 200 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 403 per sq.ft (2024)
• Sri Ragavendira Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Sikaram Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value would be Rs 2,00,000. The stamp duty at 7% would amount to Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that 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 assistance.

Which Sub Registrar Office covers Sikaram Avenue?

Sikaram Avenue falls under the jurisdiction of the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. To locate your SRO, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nayakkankuppam. It serves as a benchmark for determining the minimum value of the property, ensuring that the transaction is recorded accurately and transparently.

During registration, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations associated with the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sikaram Avenue?

The current guideline value of Sikaram Avenue is Rs 200 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 200 per sq.ft from 2012 to 2024, with a significant increase from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, and no changes from 2023 to 2024.

What is the land classification for Sikaram Avenue?

Sikaram Avenue is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the registration office for Sikaram Avenue?

The registration office for Sikaram Avenue is the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Sikaram Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 14,000 at 7% of the guideline value.