Guideline Value for Sarang Avenue

Sarang Avenue guideline value

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

How the guideline value of Sarang Avenue has changed

Over the years, the guideline value of Sarang Avenue has seen several revisions. The earliest available revision is from 2012, where the value was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. The 2023 revision brought the value back up to Rs 1,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,100 per sq.ft. Notably, there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

In terms of percentage changes, the value increased by 49% from 2017 to 2023, while it decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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 guideline value for these streets is Rs 1,650 per sq.ft, indicating that Sarang Avenue's 2024 figure is below this median.

• Sarang Avenue 1st Street: Rs 1,100 per sq.ft (2024)
• Sarang Avenue 2nd Street: Rs 1,100 per sq.ft (2024)
• Sarang Avenue 3rd Street: 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)
• Saradha Avenue 5th Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sarang Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total Rs 99,000. It is important to note that 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 Sarang Avenue?

The Sarang Avenue is covered by 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 a crucial factor in the registration process when buying or selling property in Chitlapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of property registration.

When a property is sold, the guideline value is used to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property transactions. This value is particularly important for both buyers and sellers to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sarang Avenue?

The current guideline value of Sarang Avenue 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 back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the classification of Sarang Avenue?

Sarang Avenue is classified as Residential Class II Type - II under the guideline value register.

What are the stamp duty rates for property transactions?

The stamp duty for property transactions is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Which office handles the registration for Sarang Avenue?

The registration for Sarang Avenue is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.