Guideline Value for SUJITHA AVENUE

Sujitha Avenue guideline value

The current guideline value of Sujitha Avenue is Rs 220 per sq.ft, effective from 1 July 2024. This street is located in Vallur village and falls under the Thiruvottiyur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sujitha Avenue has changed

In the 2017 revision, the guideline value was Rs 134 per sq.ft. This increased to Rs 200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 saw another increase to Rs 220 per sq.ft, which is a 10% increase from the 2023 figure. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The current value of Rs 220 per sq.ft aligns with the median guideline value for Vallur, which also stands at Rs 220 per sq.ft in the 2024 revision.

Guideline values in Vallur

Vallur village has a total of 75 streets under the Thiruvottiyur SRO, with guideline values ranging from Rs 220 to Rs 551 per sq.ft. Sujitha Avenue's 2024 figure of Rs 220 per sq.ft is equal to the median value for the village.

• Sri Sakthi Sairam Nagar: Rs 220 per sq.ft (2024)
• Sri Malli Nagar: Rs 220 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 220 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 550 per sq.ft (2024)
• Sri Lakshmi Avenue: Rs 550 per sq.ft (2024)
• Sri Ganesh Garden: Rs 220 per sq.ft (2024)

Stamp duty and registration fee for property in Sujitha Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 220 per sq.ft, the total guideline value amounts to Rs 2,20,000. The stamp duty at 7% would be Rs 15,400, and the registration fee at 2% would be Rs 4,400, bringing the total cost for these fees to Rs 19,800. Please note that the 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 details.

Which Sub Registrar Office covers Sujitha Avenue?

The Sub Registrar Office that covers Sujitha Avenue is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Vallur. It determines the minimum price at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value serves as a benchmark to ensure that the transaction is recorded at a fair and standardized price. This helps maintain transparency and accountability in the real estate market.

Frequently asked questions

What is the current guideline value of Sujitha Avenue?

The current guideline value of Sujitha Avenue is Rs 220 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 134 per sq.ft in 2017 to Rs 200 per sq.ft in 2023, and then to Rs 220 per sq.ft in 2024. This represents an overall increase of 64% from 2017 to 2024.

What is the land classification for Sujitha Avenue?

Sujitha Avenue is classified as Residential Class II Type - I. This classification is important for understanding the zoning and permissible uses of the land.

What are the stamp duty and registration fees for properties in Sujitha Avenue?

The stamp duty for properties in Sujitha Avenue is 7% of the guideline value, while the registration fee is 2%. For example, on a 1,000 sq.ft plot, the total fees would amount to Rs 19,800.

Where is the Sub Registrar Office for Sujitha Avenue located?

The Thiruvottiyur Sub Registrar Office, which covers Sujitha Avenue, is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.