Guideline Value for Sarang Avenue 2nd Street

Sarang Avenue 2nd Street guideline value

The current guideline value of Sarang Avenue 2nd Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO, classified as Residential Class II Type - II.

How the guideline value of Sarang Avenue 2nd Street has changed

The guideline value for Sarang Avenue 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which was then reduced to Rs 670 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 1,000 per sq.ft, and the latest revision in 2024 raised it further to Rs 1,100 per sq.ft. The register has no figure for this street in the years 2002, 2003, and 2007.

Between the revisions, the changes were significant. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, indicating that the guideline value of Sarang Avenue 2nd Street is below the median.

• Sarang Avenue 1st Street: Rs 1,100 per sq.ft (2024)
• Sarang Avenue 3rd Street: Rs 1,100 per sq.ft (2024)
• Sarang Avenue: Rs 1,100 per sq.ft (2024)
• Saradha Avenue 7th Street: Rs 2,750 per sq.ft (2024)
• Saradha Avenue 6th Street: Rs 2,750 per sq.ft (2024)
• Saraswathi nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sarang Avenue 2nd Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sarang Avenue 2nd Street?

The Sarang Avenue 2nd Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

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

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is essential for both buyers and sellers to be aware of this value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sarang Avenue 2nd Street?

The current guideline value of Sarang Avenue 2nd Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then increased to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Chitlapakkam?

The median guideline value in Chitlapakkam is Rs 1,650 per sq.ft, making the guideline value of Sarang Avenue 2nd Street below this median.

What are the stamp duty and registration fees for properties in Sarang Avenue 2nd Street?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which office handles registrations for Sarang Avenue 2nd Street?

The Tambaram Joint 1 Sub Registrar Office handles registrations for Sarang Avenue 2nd Street, located at No.26, Mes Road, East Tambaram, Chennai-600059.