Guideline Value for Syed Kathar Avenue

Syed Kathar Avenue guideline value

The current guideline value of Syed Kathar Avenue is Rs 4,950 per sq.ft, effective from 1 July 2024. This street is located in Virugambakkam village, under the Virugambakkam SRO, and falls under the Residential Class II Type - II land classification.

How the guideline value of Syed Kathar Avenue has changed

The guideline value for Syed Kathar Avenue has seen significant changes over the years. In the 2002 revision, the value was Rs 250 per sq.ft, which increased to Rs 277 per sq.ft in 2003, marking an 11% rise. The value continued to rise dramatically to Rs 750 per sq.ft in 2007, an increase of 171%. The 2012 revision saw the value drop to Rs 4,500 per sq.ft, a decrease of 33%. However, it rebounded to Rs 3,015 per sq.ft in 2017, reflecting a 49% increase. The most recent revision in 2023 set the value at Rs 4,500 per sq.ft, and the current 2024 revision has increased it to Rs 4,950 per sq.ft, which is a 10% increase.

Guideline values in Virugambakkam

In Virugambakkam, there are 391 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 2,750 to Rs 13,200 per sq.ft, with a median value of Rs 4,400 per sq.ft. The guideline value of Syed Kathar Avenue is above this median.

• Sundaramoorthy Gramini Street: Rs 4,950 per sq.ft (2024)
• Thangal 10th Street: Rs 3,300 per sq.ft (2024)
• Thangal 1st Street: Rs 3,300 per sq.ft (2024)
• Thangal 2nd Street: Rs 3,300 per sq.ft (2024)
• Thangal 3rd Street: Rs 3,300 per sq.ft (2024)
• Thangal 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Syed Kathar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,950 per sq.ft, the total guideline value amounts to Rs 49,50,000. The stamp duty, charged at 7%, would be Rs 3,46,500, and the registration fee at 2% would be Rs 99,000, bringing the total to Rs 4,45,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Syed Kathar Avenue?

The Sub Registrar Office that covers Syed Kathar Avenue is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during property transactions in Virugambakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers should be aware that the guideline value is considered during the registration process, ensuring that the transaction is recorded accurately.

When selling property, the guideline value helps establish a baseline for pricing. It ensures that the sale price is in line with the established values in the area, which can facilitate smoother transactions and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Syed Kathar Avenue?

The current guideline value of Syed Kathar Avenue is Rs 4,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 250 per sq.ft in 2002 to Rs 4,950 per sq.ft in 2024, reflecting an overall increase of 1880% over the years.

What is the stamp duty for property in Syed Kathar Avenue?

The stamp duty for property in Syed Kathar Avenue is 7% of the guideline value or the sale price, whichever is higher. For a plot valued at Rs 49,50,000, the stamp duty would be Rs 3,46,500.

Where is the Sub Registrar Office for Syed Kathar Avenue located?

The Sub Registrar Office for Syed Kathar Avenue is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the median guideline value in Virugambakkam?

The median guideline value in Virugambakkam is Rs 4,400 per sq.ft, with Syed Kathar Avenue's current value of Rs 4,950 per sq.ft being above this median.