Guideline Value for Sakthi Avenue

Sakthi Avenue guideline value

The current guideline value of Sakthi Avenue in Karanodai village is Rs 440 per sq.ft, effective from 1 July 2024. This area falls under the Redhills SRO and is classified as Residential Class III Type - I.

How the guideline value of Sakthi Avenue has changed

The guideline value for Sakthi Avenue has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 29 per sq.ft. This value increased significantly to Rs 200 per sq.ft in 2007, marking a rise of 590%. In 2012, the value was revised to Rs 400 per sq.ft, representing a 100% increase from the previous revision. However, in 2017, the value dropped to Rs 268 per sq.ft, showing a decrease of 33%. The next revision in 2023 saw the value rise again to Rs 400 per sq.ft, and finally, in 2024, it has increased to Rs 440 per sq.ft, which is a 10% increase from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 1417%. The register has no figure for the year 2002 for this street.

Guideline values in Karanodai

Karanodai village has 38 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,210 per sq.ft, placing Sakthi Avenue's 2024 figure below that median.

• Rukmani Ammal Nagar: Rs 1,650 per sq.ft (2024)
• Senthil Avenue: Rs 1,650 per sq.ft (2024)
• Shanmuga Nagar: Rs 1,210 per sq.ft (2024)
• Sivan Koil Street: Rs 1,650 per sq.ft (2024)
• Sothuperumpedu Road: Rs 1,650 per sq.ft (2024)
• Sri Ganapathi Avenue: Rs 440 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Avenue

For a 1,000 sq.ft plot at the current rate of Rs 440 per sq.ft, the guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sakthi Avenue?

The Sub Registrar Office that covers Sakthi Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions within Karanodai. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The guideline value serves as a benchmark for the minimum price at which a property can be registered.

When a buyer purchases a property, the registration office uses the guideline value to assess the applicable fees. This ensures that all transactions are recorded at a fair value, preventing undervaluation in the real estate market.

Frequently asked questions

What is the current guideline value of Sakthi Avenue?

The current guideline value of Sakthi Avenue is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, from Rs 29 per sq.ft in 2003 to Rs 440 per sq.ft in 2024. Notable changes include a rise of 590% from 2003 to 2007 and a decrease of 33% from 2012 to 2017.

What is the land classification for Sakthi Avenue?

Sakthi Avenue is classified as Residential Class III Type - I, which indicates its suitability for residential purposes.

What are the stamp duty and registration fees for property in Sakthi Avenue?

The stamp duty for a property in Sakthi Avenue is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 39,600.

Which office handles registrations for Sakthi Avenue?

The Redhills Sub Registrar Office handles registrations for Sakthi Avenue. It is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.