Guideline Value for Sam Avenue Part 1 (Pugazhendi Street)

Sam Avenue Part 1 (Pugazhendi Street) guideline value

The current guideline value for Sam Avenue Part 1 (Pugazhendi Street) is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Chembakkam village, under the Selaiyur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sam Avenue Part 1 (Pugazhendi Street) has changed

The guideline value for Sam Avenue Part 1 has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,206 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value significantly increased to Rs 1,800 per sq.ft, representing a rise of 49%. The most recent 2024 revision has further increased the value to Rs 1,900 per sq.ft, showing a change of 6% from the previous year.

It is important to note that there are no registered figures for Sam Avenue Part 1 in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 6%.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO with a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means that Sam Avenue Part 1's 2024 figure is below the median.

• Sam Avenue Main Road: Rs 1,900 per sq.ft (2024)
• Sam Avenue Rukmani Street: Rs 1,900 per sq.ft (2024)
• Sam Avenue Kaveri Street: Rs 1,900 per sq.ft (2024)
• Sam Avenue: Rs 1,900 per sq.ft (2024)
• Samraj Nagar: Rs 3,800 per sq.ft (2024)
• Samraj Nagar 1st Cross Street: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Sam Avenue Part 1 (Pugazhendi Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, while the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sam Avenue Part 1 (Pugazhendi Street)?

The Sub Registrar Office that covers Sam Avenue Part 1 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 Chembakkam

The guideline value is a crucial factor in the registration process when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that transactions are conducted transparently and fairly.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for completing the transaction. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Sam Avenue Part 1 (Pugazhendi Street)?

The current guideline value for Sam Avenue Part 1 (Pugazhendi Street) is Rs 1,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,900 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in this area?

For a property with a guideline value of Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles the registration for Sam Avenue Part 1?

The Selaiyur Sub Registrar Office handles the registration for Sam Avenue Part 1, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is the guideline value determined in Chembakkam?

The guideline value in Chembakkam is determined based on various factors, including land classification and the values of other streets in the area, ensuring that it reflects the market conditions accurately.