Guideline Value for Sri Samundeeswari Avenue

Sri Samundeeswari Avenue guideline value

The current guideline value of Sri Samundeeswari Avenue is Rs 1,000 per sq.ft, effective from 1 July 2024. This avenue is located in Panchetty village, under the jurisdiction of the Redhills SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Sri Samundeeswari Avenue has changed

Over the years, the guideline value of Sri Samundeeswari Avenue has seen several revisions. The 2007 revision set the value at Rs 700 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2012 revision. However, in the 2017 revision, the value dropped to Rs 670 per sq.ft. The subsequent revisions saw the value rise again, with the 2023 revision maintaining it at Rs 1,000 per sq.ft, and the 2024 revision also confirming this rate, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%. The overall change from the 2007 revision to the current 2024 revision reflects a 43% increase. It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Panchetty

In Panchetty, there are 46 streets under the Redhills SRO with a 2024 guideline value range from Rs 300 to Rs 1,600 per sq.ft. The median value is Rs 1,000 per sq.ft, making the guideline value of Sri Samundeeswari Avenue equal to this median.

• Sri Subramania Avenue: Rs 300 per sq.ft (2024)
• Thalaiyari Street: Rs 1,000 per sq.ft (2024)
• Thangal 1st Street: Rs 1,000 per sq.ft (2024)
• Thatchoor Irular Colony 1st Cross Street: Rs 300 per sq.ft (2024)
• Thatchoor Irular Colony 2nd Cross Street: Rs 300 per sq.ft (2024)
• Thatchoor Irular Colony 3rd Cross Street: Rs 300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Samundeeswari Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty, charged at 7%, would amount to Rs 70,000, while the registration fee at 2% would be Rs 20,000. Together, the total cost for these fees would be Rs 90,000. It is important to note that the 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 Sri Samundeeswari Avenue?

The Sub Registrar Office that covers Sri Samundeeswari Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Panchetty. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating the stamp duty and registration fees that must be paid during the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used for calculating the applicable duties. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Samundeeswari Avenue?

The current guideline value of Sri Samundeeswari Avenue is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2007 to Rs 1,000 per sq.ft in 2012, then dropped to Rs 670 per sq.ft in 2017. It remained at Rs 1,000 per sq.ft in both the 2023 and 2024 revisions.

What is the land classification for Sri Samundeeswari Avenue?

The land classification for Sri Samundeeswari Avenue is Commercial Class I Type - I.

Where can I find the Sub Registrar Office for Sri Samundeeswari Avenue?

The Sub Registrar Office for Sri Samundeeswari Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How is the stamp duty calculated for properties in Sri Samundeeswari 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 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.