Guideline Value for SUGAM GARDEN AVENUE

Sugam Garden Avenue guideline value

The current guideline value of Sugam Garden Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Sholinganallur - 1 village, under the Neelankarai SRO, and is classified as Residential Class II Type - III.

How the guideline value of Sugam Garden Avenue has changed

The guideline value for Sugam Garden Avenue has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for this street in the revisions from 2002, 2003, 2007, and 2012.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which is equal to the current value of Sugam Garden Avenue.

• Subramani Street (Grama Nedunchalai 1st Cross Street): Rs 2,200 per sq.ft (2024)
• Sunrise Avenue: Rs 4,400 per sq.ft (2024)
• Sunshine Avenue: Rs 4,400 per sq.ft (2024)
• S.V. Ekambaram Street: Rs 2,800 per sq.ft (2024)
• S.V.Natarajan Nagar: Rs 3,900 per sq.ft (2024)
• S.V.NATARJA NAGAR 1st STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sugam Garden Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sugam Garden Avenue?

The Sugam Garden Avenue falls under the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Sholinganallur - 1. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transfer of property ownership.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sugam Garden Avenue?

The current guideline value of Sugam Garden Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification of Sugam Garden Avenue?

Sugam Garden Avenue is classified as Residential Class II Type - III.

Which office handles registrations for Sugam Garden Avenue?

The Neelankarai Sub Registrar Office handles registrations for Sugam Garden Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in Sugam Garden Avenue?

The 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 22,00,000 would incur a stamp duty of Rs 1,54,000 at 7%.