Guideline Value for Sayee Avenue

Sayee Avenue guideline value

The current guideline value of Sayee Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - II.

How the guideline value of Sayee Avenue has changed

The guideline value of Sayee Avenue has seen several revisions over the years. In 2012, the value was set at Rs 2,500 per sq.ft. This figure then decreased to Rs 1,675 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, representing a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 2,750 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for Sayee Avenue in the revisions for the years 2002, 2003, and 2007.

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. The median value for these streets is Rs 1,650 per sq.ft, placing Sayee Avenue's 2024 figure above this median.

• SBI colony Ist street: Rs 2,750 per sq.ft (2024)
• Savitha Avenue: Rs 1,320 per sq.ft (2024)
• Saththirapathy Sivaji 1st Street Sanmugam Nagar: Rs 1,650 per sq.ft (2024)
• Saththapathy Sivaji 2nd Street Sanmugam Nagar: Rs 1,650 per sq.ft (2024)
• Sathrapathi Sivaji Street: Rs 1,650 per sq.ft (2024)
• Sathrapathi Sivaji Cross Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sayee Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty, charged at 7%, would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost for these fees to 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 Sayee Avenue?

The Sub Registrar Office that covers Sayee Avenue 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 further assistance.

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 buying or selling property, the guideline value is referenced to calculate the applicable fees. 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 Sayee Avenue?

The current guideline value of Sayee Avenue 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 increased 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 Sayee Avenue?

Sayee Avenue is classified as Residential Class I Type - II.

Where can I find the Sub Registrar Office for Sayee Avenue?

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

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.