Guideline Value for SAI PARVATHI AVENUE

Sai Parvathi Avenue guideline value

The current guideline value of Sai Parvathi Avenue, located in Mulli village under the Madurandakam SRO, is Rs 101 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sai Parvathi Avenue has changed

Looking at the historical revisions, the guideline value for Sai Parvathi Avenue was Rs 100 per sq.ft in the 2023 revision, which saw a slight increase of 1% to reach the current value of Rs 101 per sq.ft in the 2024 revision. Prior to that, in the 2017 revision, the value was significantly lower at Rs 67 per sq.ft, marking a substantial increase of 49% to the 2023 figure. The 2012 revision also recorded a value of Rs 100 per sq.ft, which was a decrease of 33% from the 2017 revision.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by just 1%.

Guideline values in Mulli

In Mulli village, there are five streets that carry a guideline value for the year 2024, ranging from Rs 100 to Rs 500 per sq.ft. The median guideline value for these streets is Rs 101 per sq.ft, which is equal to the current value of Sai Parvathi Avenue.

• Sripuram Avenue: Rs 100 per sq.ft (2024)
• Evs Nagar Phase-I: Rs 101 per sq.ft (2024)
• Barathi Nagar: Rs 101 per sq.ft (2024)
• Bharathi Nagar Extention: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Parvathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value would be Rs 1,01,000. The stamp duty at 7% would amount to Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total fees to Rs 9,090. It is important to note that the stamp 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 Sai Parvathi Avenue?

The Sub Registrar Office that covers Sai Parvathi Avenue is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Mulli. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is recorded at a fair value.

When buying or selling property, the guideline value helps in calculating the applicable stamp duty and registration fees. These fees are essential for completing the legal transfer of property ownership and must be paid based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sai Parvathi Avenue?

The current guideline value of Sai Parvathi Avenue is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2023 to Rs 101 per sq.ft in 2024, which is a 1% increase. The value was Rs 67 per sq.ft in 2017 and Rs 100 per sq.ft in 2012, showing significant fluctuations over the years.

What is the land classification for Sai Parvathi Avenue?

The land classification for Sai Parvathi Avenue is Residential Special Type - I, indicating its designated use for residential purposes.

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

For a plot of 1,000 sq.ft at the current guideline value, the total guideline value is Rs 1,01,000. The stamp duty is Rs 7,070 and the registration fee is Rs 2,020, totaling Rs 9,090.

Which Sub Registrar Office covers Sai Parvathi Avenue?

The Madurandakam Sub Registrar Office covers Sai Parvathi Avenue, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.