Guideline Value for Shankar Avenue

Shankar Avenue guideline value

The current guideline value of Shankar Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024. This street is located in Ayappakkam village, under the Ambattur SRO, and is classified as Residential Special Type - III.

How the guideline value of Shankar Avenue has changed

The guideline value for Shankar Avenue has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in the 2017 revision. This was a significant drop of 33%. However, from 2017 to 2023, the value saw a substantial increase of 49%, bringing it up to Rs 1,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft, and Shankar Avenue's current guideline value is above this median.

• Selva Vinayagar Koil Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Selva Vinayagar Koil Cross Street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Seethammal Street (Rajammal nagar): Rs 1,300 per sq.ft (2024)
• Siva Sakthi Nagar: Rs 1,600 per sq.ft (2024)
• sivasakthi street (Seettha pattabi nagar): Rs 1,300 per sq.ft (2024)
• Santhu street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Shankar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value amounts to Rs 16,00,000. The stamp duty at 7% would be Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, bringing the total fees to Rs 1,44,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shankar Avenue?

The Sub Registrar Office that covers Shankar Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ayappakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Shankar Avenue?

The current guideline value of Shankar Avenue is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Shankar Avenue has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then back to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,600 per sq.ft in 2024.

What is the land classification of Shankar Avenue?

Shankar Avenue is classified as Residential Special Type - III under the Ambattur SRO.

What are the stamp duty and registration fees for properties on Shankar Avenue?

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000.

Which office handles the registration for Shankar Avenue?

The Ambattur Sub Registrar Office is responsible for handling registrations for Shankar Avenue, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.