Guideline Value for Sha Avenue

Sha Avenue guideline value

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

How the guideline value of Sha Avenue has changed

In the 2012 revision, the guideline value for Sha Avenue was Rs 2,500 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,675 per sq.ft, marking a drop of 33%. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision raised it further to Rs 2,750 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has seen a 10% increase. The revisions for the years 2002, 2003, and 2007 do not have any figures recorded for this street.

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 value is Rs 1,650 per sq.ft, placing Sha Avenue's 2024 figure above this median.

• Sethupillai Street: Rs 1,100 per sq.ft (2024)
• Shanmugam Nagar Cross Street: Rs 1,650 per sq.ft (2024)
• Shanmugam Nagar Main Road: Rs 1,650 per sq.ft (2024)
• Shanmuganathan Street: Rs 1,320 per sq.ft (2024)
• Shanthi Avenue: Rs 3,300 per sq.ft (2024)
• Shanthi Avenue 1st Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sha 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, while the registration fee at 2% would be Rs 55,000, bringing the total 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. You can calculate your fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sha Avenue?

Sha 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 during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the transaction. It is essential for buyers 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 Sha Avenue?

The current guideline value of Sha Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,500 per sq.ft to Rs 2,750 per sq.ft in 2024, with notable fluctuations in between, including a drop to Rs 1,675 per sq.ft in 2017.

What is the land classification for Sha Avenue?

Sha Avenue is classified as Residential Class I Type - II, indicating its suitability for residential development.

Where can I find the Tambaram Joint 1 Sub Registrar Office?

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

How is stamp duty calculated for properties in Sha Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,750 per sq.ft, the stamp duty would be Rs 1,92,500.