Guideline Value for Sathish Avenue Phase I

Sathish Avenue Phase I guideline value

The current guideline value for Sathish Avenue Phase I is Rs 2,530 per sq.ft, effective from 1 July 2024. This property is located in Thiruvancheri village, under the Pallavaram SRO, and falls under the Residential Class I Type - III land classification.

How the guideline value of Sathish Avenue Phase I has changed

The guideline value for Sathish Avenue Phase I has seen several revisions over the years. The earliest recorded value was Rs 43 per sq.ft in 2003, which increased significantly to Rs 160 per sq.ft in 2007. Following this, the value rose dramatically to Rs 1,800 per sq.ft in 2012, before dropping to Rs 1,206 per sq.ft in 2017. The value then surged to Rs 2,300 per sq.ft in 2023, and the latest revision for 2024 set the value at Rs 2,530 per sq.ft. Notably, there is no figure available for the year 2002 in the register for this street.

In terms of percentage changes, the guideline value increased by 10% from 2023 to 2024. From 2017 to 2023, there was a substantial increase of 91%. The value decreased by 33% from 2012 to 2017, while it saw an extraordinary rise of 1025% from 2007 to 2012. Between 2003 and 2007, the value increased by 272%. Overall, from 2003 to 2024, the guideline value has increased by 5784%.

Guideline values in Thiruvancheri

In Thiruvancheri, there are 70 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 5,000 per sq.ft, with a median value of Rs 1,980 per sq.ft. Sathish Avenue Phase I's 2024 guideline value of Rs 2,530 per sq.ft is above this median.

• Sathiyamoorthy Nagar: Rs 1,980 per sq.ft (2024)
• Selvavinayagar Kovil Street: Rs 1,980 per sq.ft (2024)
• Serasa Pride Phase - 2: Rs 3,850 per sq.ft (2024)
• Serasa Pride Phase - III: Rs 3,850 per sq.ft (2024)
• Serenity Paradise: Rs 3,850 per sq.ft (2024)
• Sakthi Iyyanar Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sathish Avenue Phase I

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value would be Rs 25,30,000. The stamp duty at 7% would amount to Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, leading to a total of Rs 2,27,700. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sathish Avenue Phase I?

The Sathish Avenue Phase I area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Thiruvancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value influences the stamp duty and registration fees that need to be paid. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sathish Avenue Phase I?

The current guideline value of Sathish Avenue Phase I is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 43 per sq.ft in 2003 to Rs 2,530 per sq.ft in 2024, showing a significant increase over the years with various fluctuations in between.

What are the stamp duty and registration fees for property in Sathish Avenue Phase I?

For a 1,000 sq.ft plot, the total guideline value is Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, totaling Rs 2,27,700.

Which Sub Registrar Office covers Sathish Avenue Phase I?

The Pallavaram Sub Registrar Office covers Sathish Avenue Phase I, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the guideline value determined for properties in Thiruvancheri?

The guideline value is determined by the Registration Department's guideline value register, which is updated periodically to reflect changes in property values based on various factors.