Guideline Value for SPN AVENUE

Spn Avenue guideline value

The current guideline value of Spn Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Padappai village, under the Padappai SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Spn Avenue has changed

The guideline value for Spn Avenue has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In 2023, the guideline value was Rs 3,000 per sq.ft, and it increased by 10% to Rs 3,300 per sq.ft in the 2024 revision.

This increase reflects a notable change in the guideline value for this street. The 2024 figure is the only one available in the recent revisions, marking a significant rise from the previous year.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 830 per sq.ft, which means Spn Avenue's 2024 figure is above the median.

• Sri Balaji Nagar: Rs 830 per sq.ft (2024)
• S K Avenue S.No 426/2b, 426/2b1, 426/2b1b, 426/2b1a1c: Rs 3,300 per sq.ft (2024)
• S.K.Avenue: Rs 830 per sq.ft (2024)
• Sri Balaram Nagar: Rs 1,980 per sq.ft (2024)
• Sivasakthi Nagar: Rs 660 per sq.ft (2024)
• Sivan Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Spn Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, together totaling Rs 2,97,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Spn Avenue?

The Sub Registrar Office that covers Spn Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Padappai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the current guideline value, as it can affect the overall costs involved in the transaction. Buyers should consider the guideline value when negotiating sale prices to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Spn Avenue?

The current guideline value of Spn Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, reflecting a 10% increase.

What is the land classification for Spn Avenue?

Spn Avenue is classified as Commercial Class I Type - I, indicating its designation for commercial use.

What are the registration fees based on the guideline value?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 at 7%, and the registration fee would be Rs 66,000 at 2%, totaling Rs 2,97,000.

Where can I find the Sub Registrar Office for Spn Avenue?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.