Guideline Value for Star Lake Avenue

Star Lake Avenue guideline value

The current guideline value of Star Lake Avenue in Kunnam village under the Sunguvarchattram SRO is Rs 350 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Star Lake Avenue has changed

The guideline value for Star Lake Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 350 per sq.ft, which remained unchanged in the subsequent 2017 revision, despite a significant drop of 33% from the previous value of Rs 234 per sq.ft in 2017. The 2023 revision maintained the value at Rs 350 per sq.ft, and the same value was carried into the 2024 revision, resulting in a 0% change between 2023 and 2024.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 0%. There are no figures available in the register for the years 2002, 2003, and 2007 for this street.

Guideline values in Kunnam

Kunnam village has 18 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 181 to Rs 660 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Star Lake Avenue's 2024 figure above this median.

• Srivari Nagar: Rs 350 per sq.ft (2024)
• SriSakthi Nagar: Rs 350 per sq.ft (2024)
• Thirupathi Nagar: Rs 660 per sq.ft (2024)
• Solai Street: Rs 181 per sq.ft (2024)
• Road Street: Rs 250 per sq.ft (2024)
• Prabu metha nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Star Lake Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value amounts to Rs 3,50,000. The stamp duty, charged at 7%, would be Rs 24,500, while the registration fee at 2% would total Rs 7,000. Together, the fees would amount to Rs 31,500. It is essential to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Star Lake Avenue?

The Sub Registrar Office covering Star Lake Avenue is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kunnam, as it determines the minimum value at which properties can be registered. When a buyer or seller engages in a property transaction, the guideline value is used to calculate the applicable stamp duty and registration fees.

During the registration process, the guideline value serves as a benchmark for assessing the property's worth. This ensures that the government receives the appropriate fees based on the established guideline value, which reflects the prevailing market conditions for the area.

Frequently asked questions

What is the current guideline value of Star Lake Avenue?

The current guideline value of Star Lake Avenue is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft from 2012 to 2024, with a significant increase of 50% from Rs 234 per sq.ft in 2017. There are no figures available for the years 2002, 2003, and 2007.

What is the land classification for Star Lake Avenue?

The land classification for Star Lake Avenue is Residential Special Type - I, indicating its designated use for residential purposes.

Where is the Sub Registrar Office located?

The Sunguvarchattram Sub Registrar Office is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. The total fees are based on the higher of the guideline value or the sale price of the property.