Guideline Value for SHREYAS MINI TOWN

Shreyas Mini Town guideline value

The current guideline value of Shreyas Mini Town is Rs 1,980 per sq.ft, effective from 1 July 2024. This property is located in Vellanoor-1 village under the Avadi SRO, and it falls under the Mixed Type - II land classification.

How the guideline value of Shreyas Mini Town has changed

In the 2017 revision, the guideline value was set at Rs 1,800 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,800 per sq.ft. The 2024 revision saw an increase to Rs 1,980 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Vellanoor-1

In Vellanoor-1, there are 34 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,980 per sq.ft. The median guideline value in this village is Rs 555 per sq.ft, making the guideline value of Shreyas Mini Town above the median.

• Saroja Ammal Nagar: Rs 440 per sq.ft (2024)
• Sri Ganapathy Nagar Annexe: Rs 440 per sq.ft (2024)
• Saraswathi Gopal Nagar: Rs 555 per sq.ft (2024)
• Sri Krishna Nagar: Rs 555 per sq.ft (2024)
• Sri Perumal Nagar: Rs 555 per sq.ft (2024)
• Sri Sivasakthi Nagar: Rs 555 per sq.ft (2024)

Stamp duty and registration fee for property in Shreyas Mini Town

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total cost for these fees to Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Shreyas Mini Town?

The Sub Registrar Office that covers Shreyas Mini Town is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vellanoor-1

The guideline value plays a crucial role during the registration process when buying or selling property in Vellanoor-1. It serves as a baseline for calculating stamp duty and registration fees, ensuring that transactions are conducted fairly and transparently.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the correct amount of revenue from property transactions.

Frequently asked questions

What is the current guideline value of Shreyas Mini Town?

The current guideline value of Shreyas Mini Town is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,800 per sq.ft to Rs 1,980 per sq.ft in 2024, marking a 10% increase. The value remained unchanged between 2017 and 2023.

What is the median guideline value in Vellanoor-1?

The median guideline value in Vellanoor-1 is Rs 555 per sq.ft. The guideline value of Shreyas Mini Town is above this median.

What are the stamp duty and registration fees for Shreyas Mini Town?

For a 1,000 sq.ft plot, the total guideline value is Rs 19,80,000. The stamp duty at 7% amounts to Rs 1,38,600, while the registration fee at 2% is Rs 39,600, totaling Rs 1,78,200 for these fees.

Which office handles property registrations for Shreyas Mini Town?

The Avadi Sub Registrar Office handles property registrations for Shreyas Mini Town, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.