Guideline Value for Shobana Avenue Extn.

Shobana Avenue Extn. guideline value

The current guideline value of Shobana Avenue Extn. is Rs 1,003 per sq.ft, effective from 1 July 2024. This street is located in Menambedu village and falls under the Ambattur SRO. The land classification for this area is Residential Class V Type - II.

How the guideline value of Shobana Avenue Extn. has changed

In the 2012 revision, the guideline value was set at Rs 600 per sq.ft. This figure increased to Rs 402 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value saw a significant increase of 149%, reaching Rs 1,000 per sq.ft. The most recent revision in 2024 has set the value at Rs 1,003 per sq.ft, showing no change from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 67%. It is important to note that there are no figures for the years 2002, 2003, and 2007 for Shobana Avenue Extn. in the register.

Guideline values in Menambedu

There are 171 streets in Menambedu under the Ambattur SRO, with the 2024 guideline values ranging from Rs 1,000 to Rs 6,680 per sq.ft. The median guideline value for these streets is Rs 1,003 per sq.ft, which is equal to the current value for Shobana Avenue Extn.

• Shobana Nagar: Rs 1,003 per sq.ft (2024)
• Sivagami Ammmal Street: Rs 1,700 per sq.ft (2024)
• Senguttuvan Street: Rs 1,001 per sq.ft (2024)
• Senguttuvan Nagar: Rs 1,001 per sq.ft (2024)
• Sounder Street: Rs 1,700 per sq.ft (2024)
• Sowcar Street: Rs 1,700 per sq.ft (2024)

Stamp duty and registration fee for property in Shobana Avenue Extn.

For a 1,000 sq.ft plot at the current guideline value of Rs 1,003 per sq.ft, the total guideline value would be Rs 10,03,000. The stamp duty at 7% would amount to Rs 70,210, and the registration fee at 2% would be Rs 20,060, bringing the total fees together to Rs 90,270. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shobana Avenue Extn.?

The Sub Registrar Office that covers Shobana Avenue Extn. 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 details.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Menambedu. It is used to determine the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the property is registered at a value recognized by the government. This helps maintain transparency and standardization in property transactions across the region.

Frequently asked questions

What is the current guideline value of Shobana Avenue Extn.?

The current guideline value of Shobana Avenue Extn. is Rs 1,003 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 1,003 per sq.ft in 2024, reflecting an overall increase of 67% over this period.

What is the land classification for Shobana Avenue Extn.?

Shobana Avenue Extn. is classified as Residential Class V Type - II.

What are the stamp duty rates for property in Shobana Avenue Extn.?

The stamp duty rate for property in Shobana Avenue Extn. is 7%, while the registration fee is 2% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Shobana Avenue Extn.?

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