Guideline Value for S.R.B Avenue

S.R.B Avenue guideline value

The current guideline value of S.R.B Avenue in Orathur village, under the Gooduvancheri SRO, is Rs 500 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

How the guideline value of S.R.B Avenue has changed

Looking at the historical revisions, the guideline value for S.R.B Avenue has seen several changes. In 2012, the value was Rs 500 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 335 per sq.ft. This was a decrease of 33%. Following this, the value increased significantly to Rs 500 per sq.ft in the 2023 revision, marking a 49% increase. The current 2024 revision maintains this figure at Rs 500 per sq.ft, showing no change from the previous year.

The guideline value register has no figures for the years 2002, 2003, and 2007. Therefore, we only have the values from the revisions in 2012, 2017, 2023, and 2024 to consider.

Guideline values in Orathur

In Orathur, there are 80 streets under the Gooduvancheri SRO, with the 2024 guideline values ranging from Rs 335 to Rs 1,700 per sq.ft. The median value is Rs 500 per sq.ft, which is equal to the guideline value of S.R.B Avenue.

• Sri Agatheshwarar Nagar: Rs 896 per sq.ft (2024)
• Sri Alamelumangapuram: Rs 500 per sq.ft (2024)
• Sri Astalakshmi Garden: Rs 500 per sq.ft (2024)
• Sri Devi Karumariyamman Nagar: Rs 500 per sq.ft (2024)
• Sri Ganesh Nagar: Rs 500 per sq.ft (2024)
• Shruthi Garden: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in S.R.B Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 details.

Which Sub Registrar Office covers S.R.B Avenue?

The S.R.B Avenue falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Orathur, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate stamp duty and registration fees, ensuring that all transactions are conducted in accordance with government regulations.

During the registration process, the buyer must ensure that the sale price is equal to or greater than the guideline value. This helps in maintaining transparency and preventing undervaluation of properties, thereby protecting both buyers and sellers in the real estate market.

Frequently asked questions

What is the current guideline value of S.R.B Avenue?

The current guideline value of S.R.B Avenue is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft in 2023 and 2024, increased from Rs 335 per sq.ft in 2017, which was a decrease from Rs 500 per sq.ft in 2012.

What is the land classification for S.R.B Avenue?

S.R.B Avenue is classified as Residential Special Type - II, indicating its suitability for residential development.

What are the registration fees for property in S.R.B Avenue?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for S.R.B Avenue?

The Gooduvancheri Sub Registrar Office covers S.R.B Avenue, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.