Guideline Value for Sarang Avenue 4th Street

Sarang Avenue 4th Street guideline value

The current guideline value of Sarang Avenue 4th Street is Rs 3,630 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village and falls under the Padappai SRO. The land classification for this street is Commercial Class I Type - I.

How the guideline value of Sarang Avenue 4th Street has changed

The guideline value for Sarang Avenue 4th Street has seen several revisions over the years. The 2017 revision set the value at Rs 2,211 per sq.ft, which increased to Rs 3,300 per sq.ft in the 2023 revision. The latest revision in 2024 raised the guideline value to Rs 3,630 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 49%, indicating significant changes in the guideline value over recent years.

Guideline values in Mudichur

Mudichur has a total of 135 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Sarang Avenue 4th Street's 2024 figure above that median.

• Saranga Avenue: Rs 3,630 per sq.ft (2024)
• Saravanabhava Nagar: Rs 3,630 per sq.ft (2024)
• Sasikumar Nagar: Rs 1,210 per sq.ft (2024)
• Sathyavani Muthu Street: Rs 1,210 per sq.ft (2024)
• Sakthi Nagar: Rs 1,760 per sq.ft (2024)
• Senthil Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sarang Avenue 4th Street

For a 1,000 sq.ft plot at the current rate of Rs 3,630 per sq.ft, the guideline value amounts to Rs 36,30,000. The stamp duty at 7% would be Rs 2,54,100, and the registration fee at 2% would be Rs 72,600, totaling Rs 3,26,700. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information on fees applicable to your property transaction.

Which Sub Registrar Office covers Sarang Avenue 4th Street?

The Sub Registrar Office that covers Sarang Avenue 4th Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Mudichur, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

It is essential for buyers to understand that the guideline value may differ from the actual sale price, and the duty is charged on whichever amount is higher. This ensures compliance with local regulations and helps in the transparent transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sarang Avenue 4th Street?

The current guideline value of Sarang Avenue 4th Street is Rs 3,630 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased by 64% to the current figure of Rs 3,630 per sq.ft. The most significant change occurred between 2017 and 2023, with a 49% increase.

What is the land classification for Sarang Avenue 4th Street?

Sarang Avenue 4th Street is classified as Commercial Class I Type - I. This classification affects the guideline value and potential uses of the land.

Where can I find the registration office for Sarang Avenue 4th Street?

The registration office for Sarang Avenue 4th Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Mudichur?

Stamp duty for properties in Mudichur is calculated based on the guideline value or the sale price, whichever is higher. It is typically charged at 7%, with an additional registration fee of 2% on the guideline value.