Guideline Value for SP AVENUE PHASE I

Sp Avenue Phase I guideline value

The current guideline value of Sp Avenue Phase I is Rs 770 per sq.ft, effective from 1 July 2024. This property is located in Puthur village under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

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. In 2012, the value was Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in 2017. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and currently stands at Rs 770 per sq.ft as of the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value rose by 49%. The overall change from 2012 to 2024 indicates a 10% increase, showing fluctuations in the value over the years. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Puthur

Puthur village has a range of guideline values across its 63 streets under the Tambaram Joint 1 SRO, with values ranging from Rs 330 to Rs 4,600 per sq.ft. The median value is Rs 1,100 per sq.ft, placing the 2024 figure for Sp Avenue Phase I below this median.

• S.P. Avenue Phase - II: Rs 770 per sq.ft (2024)
• S.P.Avenue Phase - II Extension: Rs 770 per sq.ft (2024)
• S.P.Avenue Phase - III: Rs 770 per sq.ft (2024)
• S.P. Avenue Phase-III Extension: Rs 1,100 per sq.ft (2024)
• S.P. Avenue Phase IV: Rs 1,100 per sq.ft (2024)
• Sri Balaji 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 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, 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 Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Puthur. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of properties.

When a property is sold or bought, the guideline value is used to calculate the necessary fees, ensuring that the transaction is compliant with local regulations. Buyers and sellers should 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 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and currently stands at Rs 770 per sq.ft as of 2024.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers Sp Avenue Phase I?

The Tambaram Joint 1 Sub Registrar Office covers Sp Avenue Phase I, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How does the guideline value affect property transactions in Puthur?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It ensures that the fees are calculated based on a standardized value, facilitating compliance with local regulations.