Guideline Value for Sham Avenue

Sham Avenue guideline value

The current guideline value of Sham Avenue is Rs 880 per sq.ft, effective from 1 July 2024. This street is located in Manimangalam A village, under the Padappai SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sham Avenue has changed

The guideline value for Sham Avenue has undergone several revisions over the years. In the 2017 revision, the value was Rs 536 per sq.ft. This increased to Rs 800 per sq.ft in the 2023 revision, marking a significant rise of 49%. The latest revision in 2024 set the value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Manimangalam A

In Manimangalam A, there are 112 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 2,500 per sq.ft. The median value is Rs 880 per sq.ft, which is equal to the guideline value of Sham Avenue.

• Shiva Garden: Rs 880 per sq.ft (2024)
• Siyan Nagar: Rs 770 per sq.ft (2024)
• Saravanan Nagar: Rs 880 per sq.ft (2024)
• Sri Ambal Nagar: Rs 880 per sq.ft (2024)
• Sri Aravindhar City: Rs 770 per sq.ft (2024)
• Sri Astalakshmi Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sham Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total fees together to Rs 79,200. 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 Sham Avenue?

The Sham Avenue is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Manimangalam A. It helps determine the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process is based on a standardized value set by the authorities.

Frequently asked questions

What is the current guideline value of Sham Avenue?

The current guideline value of Sham Avenue is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 536 per sq.ft to Rs 880 per sq.ft in 2024, which is an overall increase of 64%.

What is the land classification for Sham Avenue?

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

Where can I find the registration office for Sham Avenue?

The registration office covering Sham Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at Rs 880 per sq.ft would incur total fees of Rs 79,200.