Guideline Value for Saradha Avenue 6th Street

Saradha Avenue 6th Street guideline value

The current guideline value of Saradha Avenue 6th Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - II.

How the guideline value of Saradha Avenue 6th Street has changed

The guideline value for Saradha Avenue 6th Street has seen several revisions over the years. The earliest available figure is from 2012, which was Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which reduced the guideline value to Rs 1,675 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 2,500 per sq.ft in 2023, followed by a further increase to Rs 2,750 per sq.ft in the 2024 revision, reflecting a 10% rise.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. The overall change from the 2012 figure to the 2024 figure is an increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Saradha Avenue 6th Street is above this median.

• Saradha Avenue 5th Street: Rs 2,750 per sq.ft (2024)
• Saradha Avenue 7th Street: Rs 2,750 per sq.ft (2024)
• Saradha Avenue 4th Street: Rs 2,750 per sq.ft (2024)
• Saradha Avenue 3rd 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 6th Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value is 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, totaling 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Saradha Avenue 6th Street?

The Sub Registrar Office that covers Saradha Avenue 6th 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 details.

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

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

When a buyer or seller engages in a property transaction, the guideline value is referenced to calculate the applicable duties. This ensures that both parties are aware of the financial obligations associated with the sale, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Saradha Avenue 6th Street?

The current guideline value of Saradha Avenue 6th 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 back 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 for Saradha Avenue 6th Street?

The land classification for Saradha Avenue 6th Street is Residential Class I Type - II.

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

For a property valued at Rs 27,50,000, the stamp duty is Rs 1,92,500, and the registration fee is Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Saradha Avenue 6th Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Saradha Avenue 6th Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.