Guideline Value for SARAVANA PRASAD AVENUE

Saravana Prasad Avenue guideline value

The current guideline value of Saravana Prasad Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Thirumazhisai village, under the Poonamallee Sub Registrar Office (SRO). The land classification for this area is Residential Class III Type - II.

How the guideline value of Saravana Prasad Avenue has changed

In the 2012 revision, the guideline value was set at Rs 1,000 per sq.ft. This figure remained until the 2024 revision, which saw a significant increase to Rs 1,650 per sq.ft, marking a change of +65%. The register has no figures for the years 2002, 2003, 2007, 2017, and 2023 for this street.

From 2012 to 2024, the guideline value increased substantially, reflecting changes in the local real estate landscape. The 2024 figure of Rs 1,650 per sq.ft is a notable rise compared to the earlier value of Rs 1,000 per sq.ft established in 2012.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 730 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,320 per sq.ft, placing Saravana Prasad Avenue's 2024 figure above that median.

• Sai's Golden Paradise Extn: Rs 1,650 per sq.ft (2024)
• Sai Golden Paradise Extension: Rs 1,440 per sq.ft (2024)
• Sai Avenue: Rs 1,550 per sq.ft (2024)
• Serasa Orchid Srinivasa Palms: Rs 1,900 per sq.ft (2024)
• Serasa Orchid Srinivasa Palms-II @ Thirumazhisai: Rs 2,300 per sq.ft (2024)
• R.M.R.Enclave: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Saravana Prasad 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. 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 Saravana Prasad Avenue?

The Poonamallee Sub Registrar Office covers Saravana Prasad Avenue, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process of property transactions in Thirumazhisai. It serves as a benchmark for determining the stamp duty and registration fees applicable to a property sale.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair price, reflecting the official value set by the registration department. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Saravana Prasad Avenue?

The current guideline value of Saravana Prasad Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 1,000 per sq.ft to Rs 1,650 per sq.ft in 2024, which is a change of +65%. There are no figures available for the years 2002, 2003, 2007, 2017, and 2023 for this street.

What is the land classification for Saravana Prasad Avenue?

The land classification for Saravana Prasad Avenue is Residential Class III Type - II. This classification is important for understanding the permitted uses of the land.

What are the other streets in Thirumazhisai and their guideline values?

Other streets in Thirumazhisai include Sai's Golden Paradise Extn at Rs 1,650 per sq.ft, Sai Golden Paradise Extension at Rs 1,440 per sq.ft, and Sai Avenue at Rs 1,550 per sq.ft, among others. These values vary and reflect the local market conditions.

How is stamp duty calculated for properties in Saravana Prasad Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a plot of 1,000 sq.ft at the current guideline value, the total stamp duty would be Rs 1,15,500.