Guideline Value for SKY LAB AVENUE3 EXTENSION

Sky Lab Avenue3 Extension guideline value

The current guideline value of Sky Lab Avenue3 Extension is Rs 2,850 per sq.ft, effective from 1 July 2024. This property is located in Chitthalapakkam village under the Selaiyur SRO, classified as Mixed Type - I land.

How the guideline value of Sky Lab Avenue3 Extension has changed

The guideline value for Sky Lab Avenue3 Extension has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 2,700 per sq.ft. This figure remained the same until the next revision in 2017, which saw a decrease to Rs 1,809 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 2,700 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 2,850 per sq.ft, marking a 6% increase from the previous year.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO, with 2024 guideline values ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,900 per sq.ft, indicating that the guideline value for Sky Lab Avenue3 Extension is slightly below this median.

• Sky Lab Avenue: Rs 2,900 per sq.ft (2024)
• Senthamizh Nagar Veenus Colony: Rs 3,300 per sq.ft (2024)
• Sekaran S Woodrow Manor: Rs 3,300 per sq.ft (2024)
• Seethammal Nagar: Rs 2,950 per sq.ft (2024)
• Sri Nagalakshmi Avenue: Rs 3,300 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,900 per sq.ft (2024)

Stamp duty and registration fee for property in Sky Lab Avenue3 Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 2,850 per sq.ft, the total guideline value amounts to Rs 28,50,000. The stamp duty at 7% would be Rs 1,99,500, and the registration fee at 2% would be Rs 57,000, bringing the total cost for these fees to Rs 2,56,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sky Lab Avenue3 Extension?

The Sub Registrar Office that covers Sky Lab Avenue3 Extension is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum sale price of properties, ensuring that transactions are recorded accurately and transparently.

When buying or selling property, the guideline value will influence the stamp duty and registration fees applicable to the transaction. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the sale price, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sky Lab Avenue3 Extension?

The current guideline value of Sky Lab Avenue3 Extension is Rs 2,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,850 per sq.ft in 2024, reflecting a 6% increase. It was Rs 1,809 per sq.ft in 2017, which was a 49% increase from the previous value of Rs 2,700 per sq.ft in 2012.

What is the land classification for Sky Lab Avenue3 Extension?

Sky Lab Avenue3 Extension is classified as Mixed Type - I land, according to the local regulations.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a plot valued at Rs 28,50,000, the total fees would amount to Rs 2,56,500.

Where is the Sub Registrar Office for Sky Lab Avenue3 Extension located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.