Guideline Value for saratha avenue 4th street

Saratha Avenue 4th Street guideline value

The current guideline value of Saratha Avenue 4th Street 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 Saratha Avenue 4th Street has changed

Looking back at the revisions, the guideline value for Saratha Avenue 4th Street was Rs 1,500 per sq.ft in 2023 and Rs 1,005 per sq.ft in 2017. The change from 2017 to 2023 saw an increase of 49%. From 2023 to 2024, there is a further increase of 10%, bringing the current value to Rs 1,650 per sq.ft.

In earlier revisions, the guideline value was Rs 1,500 per sq.ft in 2012. There was a decrease of 33% from 2012 to 2017. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the current value for Saratha Avenue 4th Street.

• Saratha Avenue 3rd Street: Rs 1,650 per sq.ft (2024)
• Sarathambal Street: Rs 3,850 per sq.ft (2024)
• Sarathammal Nagar Ext: Rs 3,850 per sq.ft (2024)
• Sarathampal Street Ext: Rs 3,850 per sq.ft (2024)
• Saraswathi Street: Rs 1,650 per sq.ft (2024)
• Saraswathi nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Saratha Avenue 4th Street

For a 1,000 sq.ft plot at the current rate, the guideline value is 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. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Saratha Avenue 4th Street?

The Sub Registrar Office that covers Saratha Avenue 4th 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 additional information.

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

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

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is important for buyers to be aware of the guideline value to avoid overpaying and for sellers to set realistic expectations for their property pricing.

Frequently asked questions

What is the current guideline value of Saratha Avenue 4th Street?

The current guideline value of Saratha Avenue 4th Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024, a change of 10%. From 2017 to 2023, it increased by 49% from Rs 1,005 per sq.ft.

What is the land classification for Saratha Avenue 4th Street?

Saratha Avenue 4th Street falls under the Residential Class I Type - III land classification, indicating its suitability for residential purposes.

Where can I find the registration office for properties in Chitlapakkam?

The registration office for properties in Chitlapakkam is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.

How is stamp duty calculated for properties in Saratha Avenue 4th Street?

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 would be Rs 1,15,500 at a rate of 7%.