Guideline Value for Sakthi Avenue

Sakthi Avenue guideline value

The current guideline value of Sakthi Avenue, located in Sholavaram village, is Rs 550 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. In 2007, the value was Rs 200 per sq.ft, which increased to Rs 500 per sq.ft in 2012. However, this figure then decreased to Rs 335 per sq.ft in 2017. The subsequent revisions showed a significant increase, with the value rising to Rs 500 per sq.ft in 2023, and reaching Rs 550 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 175%. Notably, there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Sholavaram

In Sholavaram, there are 98 streets under the Redhills SRO that have a guideline value for 2024, ranging from Rs 515 to Rs 3,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, indicating that Sakthi Avenue's 2024 guideline value is below this median.

• Sai Balaji Nagar: Rs 660 per sq.ft (2024)
• R.D.Taaj City: Rs 550 per sq.ft (2024)
• Ramya Garden: Rs 770 per sq.ft (2024)
• Selliamman Street: Rs 550 per sq.ft (2024)
• Selvam Garden: Rs 550 per sq.ft (2024)
• Rajaraja Chozhan Puthu Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sakthi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total to Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the 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 information.

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

The guideline value plays a crucial role during the registration of property transactions in Sholavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it may affect the overall costs involved in the transaction. Buyers should ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sakthi Avenue?

The current guideline value of Sakthi Avenue is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, reflecting an overall increase of 175% over the years.

What are the stamp duty rates for properties in Sakthi Avenue?

The stamp duty for properties in Sakthi Avenue is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registration for Sakthi Avenue?

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

What is the median guideline value for streets in Sholavaram?

The median guideline value for streets in Sholavaram is Rs 660 per sq.ft for the year 2024, with Sakthi Avenue's value being below this median.