Guideline Value for Sudha Avenue

Sudha Avenue guideline value

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

How the guideline value of Sudha Avenue has changed

The guideline value for Sudha Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then changed to Rs 1,005 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value to Rs 1,500 per sq.ft. The most recent revision in 2024 has further raised the guideline value to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is the same as the 2024 guideline value for Sudha Avenue.

• Sudha Avenue 2nd Street: 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

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, bringing the total to 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sudha Avenue?

Sudha Avenue falls under 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 further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Chitlapakkam. It determines the minimum value at which the property can be registered, ensuring that the transaction is documented at a fair value set by the authorities.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the state collects the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sudha Avenue?

The current guideline value of Sudha Avenue 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, marking an overall increase of 10%. The value was Rs 1,005 per sq.ft in 2017 and Rs 1,500 per sq.ft in 2023.

What is the land classification for Sudha Avenue?

Sudha Avenue falls under the Residential Class I Type - III land classification, which is designated for residential purposes.

What are the stamp duty and registration fees for property in Sudha Avenue?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Sudha Avenue?

Sudha Avenue is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.