Guideline Value for SP AVENUE PHASE -I

Sp Avenue Phase -I guideline value

The current guideline value of Sp Avenue Phase -I is Rs 1,320 per sq.ft. This street is located in Sengundram - 1 village under the Chengleput Joint II SRO, classified as Residential Special Type - II.

How the guideline value of Sp Avenue Phase -I has changed

The guideline value for Sp Avenue Phase -I has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase from Rs 1,200 per sq.ft in the 2023 revision, marking a change of +10%. Prior to that, the register has no figure for this street from the years 2017, 2012, 2007, 2003, and 2002.

In summary, the 2023 revision was Rs 1,200 per sq.ft, while the 2024 revision reflects an increase to Rs 1,320 per sq.ft. The changes highlight the most recent adjustments in the guideline value for this area.

Guideline values in Sengundram - 1

In Sengundram - 1, there are 126 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 660 to Rs 3,285 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, placing Sp Avenue Phase -I's 2024 figure above that median.

• Sp Avenue (Chen): 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 Phase -I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty, charged at 7%, would be Rs 92,400, while the registration fee at 2% would be Rs 26,400, bringing the total fees to Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sp Avenue Phase -I?

The Sub Registrar Office that covers Sp Avenue Phase -I 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 when registering property transactions in Sengundram - 1. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it affects the overall transaction costs. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sp Avenue Phase -I?

The current guideline value of Sp Avenue Phase -I is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,320 per sq.ft in 2024, marking an increase of +10%. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What are the guideline values of other streets in Sengundram - 1?

Other streets in Sengundram - 1 have varying guideline values, with rates ranging from Rs 660 to Rs 3,285 per sq.ft. The median value for these streets is Rs 880 per sq.ft.

What are the stamp duty and registration fees for property in Sp Avenue Phase -I?

The stamp duty for property in Sp Avenue Phase -I is 7% of the guideline value, while the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,18,800.

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

The Sub Registrar Office for Sp Avenue Phase -I is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details by visiting the respective link.