Guideline Value for SPOTLIGHT

Spotlight guideline value

The current guideline value of Spotlight, located in Chembarambakkam village under the Poonamallee SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Type - III.

How the guideline value of Spotlight has changed

According to the register, there are no figures available for the years 2002, 2003, 2007, 2012, and 2017 for Spotlight. The 2023 revision set the guideline value at Rs 2,700 per sq.ft, which remained unchanged in the 2024 revision.

From the 2023 to the 2024 revision, the guideline value saw no percentage change, remaining at Rs 2,700 per sq.ft.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Spotlight's 2024 figure above this median.

• Spartan Enclave: Rs 1,540 per sq.ft (2024)
• Sri Golden City J J Nagar: Rs 878 per sq.ft (2024)
• Sri Krishna Nagar: Rs 1,540 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Sidco 75/1a, 1b: Rs 1,095 per sq.ft (2024)
• Sidco: Rs 1,095 per sq.ft (2024)

Stamp duty and registration fee for property in Spotlight

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Spotlight?

The Sub Registrar Office that covers Spotlight is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Chembarambakkam. It is used to determine the stamp duty and registration fees applicable when registering a property. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale process.

When a property is registered, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Spotlight?

The current guideline value of Spotlight is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed recently?

The guideline value for Spotlight has remained unchanged at Rs 2,700 per sq.ft from the 2023 revision to the 2024 revision.

What is the land classification for Spotlight?

The land classification for Spotlight is Mixed Type - III.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is the stamp duty calculated for properties in Spotlight?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the guideline value of Rs 2,700 per sq.ft would incur a total stamp duty of Rs 1,89,000.