Guideline Value for Sudha Avenue 2nd Street

Sudha Avenue 2nd Street guideline value

The current guideline value of Sudha Avenue 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Sudha Avenue 2nd Street has changed

The guideline value for Sudha Avenue 2nd Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was set at Rs 1,500 per sq.ft. This figure remained unchanged in the subsequent revision in 2017, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, the value saw a significant increase in the 2023 revision, rising to Rs 1,500 per sq.ft, and further increased by 10% to Rs 1,650 per sq.ft in the 2024 revision.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The 2023 revision saw a notable increase of 49% from the 2017 figure. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for Sudha Avenue 2nd Street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are a total of 548 streets under the Tambaram Joint 1 SRO, with the 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for the village is Rs 1,650 per sq.ft, which is equal to the current guideline value of Sudha Avenue 2nd Street.

• Sudha Avenue: Rs 1,650 per sq.ft (2024)
• Sudha Avenue Ist Street: Rs 1,650 per sq.ft (2024)
• Sudha Nagar: Rs 4,400 per sq.ft (2024)
• Sudha Nagar Ist Street: Rs 4,400 per sq.ft (2024)
• Sudhananda Bharathi Street: Rs 1,100 per sq.ft (2024)
• Sundaram Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sudha Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, totaling Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sudha Avenue 2nd Street?

The Sub Registrar Office that covers Sudha Avenue 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, both parties must consider the guideline value to avoid discrepancies during registration. It ensures transparency and fairness in property transactions, as the guideline value reflects the current market conditions as assessed by the Registration Department.

Frequently asked questions

What is the current guideline value of Sudha Avenue 2nd Street?

The current guideline value of Sudha Avenue 2nd Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 10%. The most significant change occurred between 2017 and 2023, where it rose by 49%.

What is the land classification for Sudha Avenue 2nd Street?

Sudha Avenue 2nd Street is classified as Residential Class I Type - III. This classification is important for understanding the zoning and usage of the land.

Where can I find the Sub Registrar Office for Sudha Avenue 2nd Street?

The Sub Registrar Office for Sudha Avenue 2nd Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty at 7% would amount to Rs 1,15,500.