Guideline Value for SUSEELA AVENUE

Suseela Avenue guideline value

The current guideline value of Suseela Avenue in Vengaivasal village is Rs 3,300 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur SRO and is classified as Industries Special Type - I.

How the guideline value of Suseela Avenue has changed

In the 2012 revision, the guideline value was Rs 3,000 per sq.ft. This value decreased to Rs 2,010 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value rose significantly to Rs 3,000 per sq.ft, which is an increase of 49%. The current guideline value of Rs 3,300 per sq.ft reflects a 10% increase from the 2023 revision.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Vengaivasal

In Vengaivasal, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value of Suseela Avenue is above this median.

• Suseela Nagar: Rs 2,350 per sq.ft (2024)
• S.V. Naidu Nagar: Rs 850 per sq.ft (2024)
• Thangam Nagar: Rs 3,200 per sq.ft (2024)
• Sudarasana Prasad Nagar: Rs 2,350 per sq.ft (2024)
• St.THOMAS NAGAR: Rs 2,700 per sq.ft (2024)
• Theshiv Rkj Elite: Rs 4,450 per sq.ft (2024)

Stamp duty and registration fee for property in Suseela Avenue

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 further calculations.

Which Sub Registrar Office covers Suseela Avenue?

The Sub Registrar Office that covers Suseela Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vengaivasal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for assessing the transaction price. If the sale price is higher than the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Suseela Avenue?

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

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with a decrease to Rs 2,010 per sq.ft in 2017 from Rs 3,000 per sq.ft in 2012, followed by an increase to Rs 3,000 per sq.ft in 2023, and then to Rs 3,300 per sq.ft in 2024.

What is the land classification for Suseela Avenue?

Suseela Avenue is classified as Industries Special Type - I, indicating its suitability for industrial purposes.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current rate incurs a total cost of Rs 2,97,000 in fees.

Where is the Sub Registrar Office located for Suseela Avenue?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.