Guideline Value for Sampath Avenue

Sampath Avenue guideline value

The current guideline value of Sampath Avenue is Rs 8,700 per sq.ft, effective from 1 July 2024. This street is located in Mylapore Part 2 village and falls under the Chennai Central Joint I SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Sampath Avenue has changed

The guideline value for Sampath Avenue has seen revisions over the years. As per the 2023 revision, the value was Rs 8,000 per sq.ft. The most recent revision in 2024 has increased this value to Rs 8,700 per sq.ft, marking a change of +9% from the previous year. It is important to note that the register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

In summary, the guideline value has progressed from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024. This increase reflects the adjustments made in the valuation process, aligning with the overall trends observed in the locality.

Guideline values in Mylapore Part 2

In Mylapore Part 2, there are 332 streets under the Chennai Central Joint I SRO that carry a 2024 guideline value ranging from Rs 4,400 to Rs 25,300 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, making Sampath Avenue's current figure of Rs 8,700 per sq.ft slightly below the median.

• Sathasivam 1st Street: Rs 8,700 per sq.ft (2024)
• Sathasivam 2nd Street: Rs 8,700 per sq.ft (2024)
• Royapettah High Road: Rs 13,200 per sq.ft (2024)
• Rosonic Street: Rs 8,700 per sq.ft (2024)
• Sathyanarayana Avenue: Rs 13,200 per sq.ft (2024)
• Reporia Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sampath Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 8,700 per sq.ft, the total guideline value amounts to Rs 87,00,000. The stamp duty at 7% would be Rs 6,09,000, and the registration fee at 2% would be Rs 1,74,000, bringing the total fees to Rs 7,83,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sampath Avenue?

The Sampath Avenue area is covered by the Chennai Central Joint I Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. For further assistance, you can find your SRO.

How the guideline value is used when you buy or sell in Mylapore Part 2

The guideline value plays a crucial role during the registration process of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately in the official registry.

When buying or selling property in Mylapore Part 2, it is essential to be aware of the current guideline value, as this will directly impact the overall costs involved in the transaction. Buyers and sellers should ensure that they are informed about the latest values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sampath Avenue?

The current guideline value of Sampath Avenue is Rs 8,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 8,000 per sq.ft in 2023 to Rs 8,700 per sq.ft in 2024, representing a +9% change. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Mylapore Part 2?

The median guideline value in Mylapore Part 2 is Rs 8,800 per sq.ft, which is slightly higher than the current value of Sampath Avenue.

What are the stamp duty rates applicable in Sampath Avenue?

The stamp duty rate applicable in Sampath Avenue is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sampath Avenue?

The Sub Registrar Office for Sampath Avenue is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can also find your SRO online for more information.