Guideline Value for Sekar Avenue

Sekar Avenue guideline value

The current guideline value of Sekar 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, classified as Residential Class I Type - II.

How the guideline value of Sekar Avenue has changed

Over the years, the guideline value of Sekar Avenue has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a decrease of 33% from the previous revision in 2017, where the value was Rs 1,675 per sq.ft. The 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision raised it to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Sekar Avenue. 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 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value is Rs 1,650 per sq.ft, placing Sekar Avenue's 2024 value above this median.

• Sekkilar Street: Rs 1,100 per sq.ft (2024)
• Seetharaman Street: Rs 1,320 per sq.ft (2024)
• Seetha pathy Nagar Extn.: Rs 1,320 per sq.ft (2024)
• Seethapathi Street: Rs 2,750 per sq.ft (2024)
• Seenivasan Nagar: Rs 2,750 per sq.ft (2024)
• Seenivasa Avenue: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sekar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sekar Avenue?

The Sub Registrar Office that covers Sekar 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 more information.

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

The guideline value is a crucial factor in property transactions in Chitlapakkam. It is used to determine the stamp duty and registration fees applicable during the registration of property transactions. Buyers and sellers should be aware of the guideline value to ensure compliance with local regulations.

When a property is sold or purchased, the guideline value serves as a benchmark for calculating the applicable charges. It is essential for both parties to understand this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sekar Avenue?

The current guideline value of Sekar 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 of Sekar Avenue has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,750 per sq.ft in 2024, reflecting a 10% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What are the other streets with guideline values in Chitlapakkam?

Other streets in Chitlapakkam include Sekkilar Street at Rs 1,100 per sq.ft, Seetharaman Street and Seetha pathy Nagar Extn. at Rs 1,320 per sq.ft, and Seethapathi Street, Seenivasan Nagar, and Seenivasa Avenue all at Rs 2,750 per sq.ft.

What is the registration fee for property in Sekar Avenue?

The registration fee for property in Sekar Avenue is calculated based on the guideline value. For a property valued at Rs 27,50,000, the registration fee would be Rs 55,000 at a rate of 2%.

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

The Tambaram Joint 1 Sub Registrar Office covers Sekar Avenue and is located at No.26, Mes Road, East Tambaram, Chennai-600059. You can find more information about your SRO online.