Guideline Value for SP AVENUE (CHEN)

Sp Avenue (Chen) guideline value

The current guideline value of Sp Avenue (Chen) is Rs 1,320 per sq.ft, effective from 1 July 2024. This property is located in Sengundram - 1 village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of Sp Avenue (Chen) has changed

The guideline value for Sp Avenue (Chen) has seen several revisions over the years. In 2012, the value was Rs 600 per sq.ft, which increased to Rs 402 per sq.ft in 2017. This was a decrease of 33%. However, from 2017 to 2023, the value rose significantly to Rs 1,200 per sq.ft, marking an increase of 199%. The most recent revision in 2024 raised the guideline value to Rs 1,320 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value increased by 120%.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 3,285 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Sp Avenue (Chen) above that median.

• Sp Avenue Phase -I: Rs 1,320 per sq.ft (2024)
• Sree Gokulapuram (Chen): Rs 1,100 per sq.ft (2024)
• Sree Gokulapuram Extension: Rs 1,100 per sq.ft (2024)
• Sree Gokulapuram Extn -2 (Chen): Rs 1,100 per sq.ft (2024)
• Sree Gokulapuram Extn -3: Rs 1,100 per sq.ft (2024)
• Sree Gomathees Varar Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sp Avenue (Chen)

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. 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 details.

Which Sub Registrar Office covers Sp Avenue (Chen)?

The Sub Registrar Office that covers Sp Avenue (Chen) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Sengundram - 1

The guideline value is a crucial factor in the registration process when buying or selling property in Sengundram - 1. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers should be aware of the guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sp Avenue (Chen)?

The current guideline value of Sp Avenue (Chen) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 600 per sq.ft to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 120%.

What is the stamp duty for property in Sp Avenue (Chen)?

The stamp duty for property in Sp Avenue (Chen) is 7% of the guideline value, which would amount to Rs 92,400 for a 1,000 sq.ft plot at the current rate.

Which Sub Registrar Office covers Sp Avenue (Chen)?

The Chengleput Joint II Sub Registrar Office covers Sp Avenue (Chen), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

Are there other streets with different guideline values in Sengundram - 1?

Yes, there are other streets in Sengundram - 1 with varying guideline values, ranging from Rs 660 to Rs 3,285 per sq.ft, with Sp Avenue (Chen) being above the median value of Rs 880 per sq.ft.