Guideline Value for Spartan Enclave

Spartan Enclave guideline value

The current guideline value of Spartan Enclave is Rs 1,540 per sq.ft, effective from 1 July 2024. This property is located in Chembarambakkam village, under the Poonamallee SRO, classified as Residential Class I Type - I.

How the guideline value of Spartan Enclave has changed

The guideline value for Spartan Enclave has undergone several revisions over the years. In 2012, the value was set at Rs 1,400 per sq.ft, which then decreased to Rs 938 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,400 per sq.ft in 2023, and further rose to Rs 1,540 per sq.ft in the 2024 revision, marking a 10% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a notable increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO with a 2024 guideline value ranging from Rs 550 to Rs 4,000 per sq.ft. The median value is Rs 1,100 per sq.ft, placing Spartan Enclave's 2024 figure above this median.

• Spotlight: Rs 2,700 per sq.ft (2024)
• Sri Golden City J J Nagar: Rs 878 per sq.ft (2024)
• Sri Krishna Nagar: Rs 1,540 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Sidco 75/1a, 1b: Rs 1,095 per sq.ft (2024)
• Sidco: Rs 1,095 per sq.ft (2024)

Stamp duty and registration fee for property in Spartan Enclave

For a 1,000 sq.ft plot at the current rate of Rs 1,540 per sq.ft, the guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, making the total Rs 1,38,600. Duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Spartan Enclave?

The Spartan Enclave falls under the jurisdiction of the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during property transactions in Chembarambakkam. It serves as a benchmark for calculating the stamp duty and registration fees when buying or selling property. The stamp duty is calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it's essential to be aware of the current guideline value as it directly impacts the costs associated with the transaction. Buyers and sellers should ensure they are informed about the latest revisions to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Spartan Enclave?

The current guideline value of Spartan Enclave is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

What is the median guideline value in Chembarambakkam?

The median guideline value in Chembarambakkam is Rs 1,100 per sq.ft, with Spartan Enclave's value being above this median.

What are the stamp duty rates for Spartan Enclave?

The stamp duty for Spartan Enclave is charged at 7% of the guideline value or sale price, whichever is higher.

Which office handles property registrations for Spartan Enclave?

The Poonamallee Sub Registrar Office handles property registrations for Spartan Enclave, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.