Guideline Value for Saradha Avenue 5th Street

Saradha Avenue 5th Street guideline value

The current guideline value of Saradha Avenue 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class I Type - II.

How the guideline value of Saradha Avenue 5th Street has changed

The guideline value for Saradha Avenue 5th Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and further rose to Rs 2,750 per sq.ft in 2024, marking a 10% increase from the previous year.

From the 2017 revision to 2023, there was a notable increase of 49%. However, the value decreased by 33% from 2012 to 2017. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, placing Saradha Avenue 5th Street's 2024 figure above this median.

• Saradha Avenue 4th Street: Rs 2,750 per sq.ft (2024)
• Saradha Avenue 6th Street: Rs 2,750 per sq.ft (2024)
• Saradha Avenue 3rd Street: Rs 2,750 per sq.ft (2024)
• Saradha Avenue 7th Street: Rs 2,750 per sq.ft (2024)
• Saradha Avenue 2nd Street: Rs 2,750 per sq.ft (2024)
• Sapthagiri Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Saradha Avenue 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, resulting in a total of Rs 2,47,500. 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 Saradha Avenue 5th Street?

The Sub Registrar Office that covers Saradha Avenue 5th Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is an essential factor when registering a property in Chitlapakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with the registration requirements.

When a property is sold, the guideline value serves as a baseline for calculating the applicable fees. It is crucial for both parties to understand that the fees are based on the higher of the guideline value or the sale price, ensuring transparency in the transaction process.

Frequently asked questions

What is the current guideline value of Saradha Avenue 5th Street?

The current guideline value of Saradha Avenue 5th Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification of Saradha Avenue 5th Street?

Saradha Avenue 5th Street is classified as Residential Class I Type - II.

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

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 27,50,000, the total fees would be Rs 2,47,500.

Which office handles the registration for Saradha Avenue 5th Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Saradha Avenue 5th Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.