Guideline Value for Sky Avenue

Sky Avenue guideline value

The current guideline value of Sky Avenue, located in Somangalam_B village, is Rs 150 per sq.ft. This value is effective from the 2024 revision and falls under the Residential Class IV Type - I land classification. The street is registered under the Sriperumpudur Sub Registrar Office (SRO).

How the guideline value of Sky Avenue has changed

The guideline value for Sky Avenue has seen a change from Rs 100 per sq.ft in the 2017 revision to Rs 150 per sq.ft in both the 2023 and 2024 revisions. There were no figures available for the revisions in 2002, 2003, 2007, and 2012, indicating that the register has no figure for this street in those years.

From 2017 to 2023, the guideline value increased by 50%, remaining unchanged from 2023 to 2024, resulting in a total increase of 50% from the 2017 revision to the current 2024 revision.

Guideline values in Somangalam_B

In Somangalam_B, there are 79 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 2,500 per sq.ft, with a median value of Rs 250 per sq.ft. Sky Avenue's 2024 guideline value is below this median.

• Somangalam Main Road: Rs 500 per sq.ft (2024)
• Sivam Nagar: Rs 200 per sq.ft (2024)
• Sri Amman Garden: Rs 250 per sq.ft (2024)
• Sri City: Rs 350 per sq.ft (2024)
• Sri Ganapathi Nagar: Rs 200 per sq.ft (2024)
• Sri Gayathiri Doctor's Nest: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sky Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total to Rs 13,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sky Avenue?

The Sub Registrar Office that covers Sky Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is used as a basis for determining the stamp duty and registration fees during property transactions. When buying or selling property in Somangalam_B, the guideline value ensures that the transaction is registered at a fair price as per the government standards.

It is important to note that the guideline value may differ from the actual sale price, and the higher of the two will be considered for calculating the applicable duties. This ensures compliance with the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sky Avenue?

The current guideline value of Sky Avenue is Rs 150 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value increased from Rs 100 per sq.ft in 2017 to Rs 150 per sq.ft in both the 2023 and 2024 revisions, reflecting a 50% increase over this period.

What are the other streets in Somangalam_B with their guideline values?

Other streets in Somangalam_B include Somangalam Main Road at Rs 500 per sq.ft, Sivam Nagar at Rs 200 per sq.ft, Sri Amman Garden at Rs 250 per sq.ft, Sri City at Rs 350 per sq.ft, Sri Ganapathi Nagar at Rs 200 per sq.ft, and Sri Gayathiri Doctor's Nest at Rs 400 per sq.ft for the year 2024.

What is the registration office for Sky Avenue?

The registration office for Sky Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in Sky Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,50,000, the stamp duty would be Rs 10,500 at 7%, along with a registration fee of Rs 3,000 at 2%.