Guideline Value for Sri Sakthi Avenue

Sri Sakthi Avenue guideline value

The current guideline value of Sri Sakthi Avenue is Rs 900 per sq.ft, effective from 1 July 2024. This street is located in Puthucheri village, under the Padappai SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Sakthi Avenue has changed

The guideline value for Sri Sakthi Avenue has undergone several revisions over the years. In 2012, the value was Rs 810 per sq.ft, which then decreased to Rs 543 per sq.ft in 2017. Following this, the value saw a significant increase to Rs 811 per sq.ft in 2023. The most recent revision in 2024 has set the guideline value at Rs 900 per sq.ft, marking an increase of 11% from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 11%. The changes between revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Puthucheri

In Puthucheri, there are 16 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 1,500 per sq.ft. The median value among these streets is Rs 625 per sq.ft, placing Sri Sakthi Avenue's 2024 figure above this median.

• Sri Sairam Nagar: Rs 550 per sq.ft (2024)
• Sri Gayathri Doctor's Nest Phase -IV: Rs 900 per sq.ft (2024)
• Sri Gayathri Doctors Nest Phase III: Rs 900 per sq.ft (2024)
• Pink House: Rs 550 per sq.ft (2024)
• Nimas: Rs 550 per sq.ft (2024)
• New Portia: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sakthi Avenue

For a 1,000 sq.ft plot at the current rate of Rs 900 per sq.ft, the guideline value would be Rs 9,00,000. The stamp duty at 7% would amount to Rs 63,000, and the registration fee at 2% would be Rs 18,000, totaling Rs 81,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sakthi Avenue?

The Sub Registrar Office that covers Sri Sakthi Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Puthucheri. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a value that reflects the current market conditions. This helps maintain transparency and fairness in property dealings.

Frequently asked questions

What is the current guideline value of Sri Sakthi Avenue?

The current guideline value of Sri Sakthi Avenue is Rs 900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 810 per sq.ft in 2012 to Rs 543 per sq.ft in 2017, then increased to Rs 811 per sq.ft in 2023, and finally to Rs 900 per sq.ft in 2024.

What is the land classification for Sri Sakthi Avenue?

Sri Sakthi Avenue is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Puthucheri?

The Sub Registrar Office for Puthucheri is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Sri Sakthi Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 9,00,000, the stamp duty would be Rs 63,000 at 7%.