Guideline Value

Corporate

Guideline Value for SRI AVENUE

₹1320/sq.ft.

The guideline value for Sri Avenue in Pallikaranai village (Chennai South Joint I SRO, Chennai zone) is Rs 1320 per sq.ft, effective 1 July 2024. It was Rs 1200 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - Ii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Pallikaranai

Village

Chennai South Joint I

SRO

Residential Class IV Type - II
History
Period Guideline Value
From 1-7-2024 ₹1320 /sq.ft.
From 1-4-2023 ₹1200 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹804 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1200 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹400 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹124 /sq.ft.
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Sri Avenue

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Sri Avenue guideline value

The current guideline value of Sri Avenue, located in Pallikaranai village, is Rs 1,320 per sq.ft, effective from 1 July 2024. This property falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - II.

How the guideline value of Sri Avenue has changed

The guideline value for Sri Avenue has seen several revisions over the years. In 2003, the guideline value was Rs 124 per sq.ft. This increased to Rs 400 per sq.ft in 2007, marking a significant rise of 223%. The value then jumped to Rs 1,200 per sq.ft in 2012, a 200% increase from the previous revision. However, there was a decrease to Rs 804 per sq.ft in 2017, reflecting a drop of 33%. The value rose again to Rs 1,200 per sq.ft in 2023, and the latest revision in 2024 sets it at Rs 1,320 per sq.ft, which is a 10% increase from the previous year. The register has no figure for this street in 2002.

Overall, from 2003 to 2024, the guideline value has increased by 965%. The revisions show fluctuations, with the highest value recorded in 2024 at Rs 1,320 per sq.ft, compared to the lowest in 2003 at Rs 124 per sq.ft.

Guideline values in Pallikaranai

In Pallikaranai, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, placing Sri Avenue's 2024 figure below that median.

Stamp duty and registration fee for property in Sri Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, and the registration fee at 2% would be Rs 26,400, bringing the total cost together to Rs 1,18,800. 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 further calculations.

Which Sub Registrar Office covers Sri Avenue?

Sri Avenue is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. To find your SRO, visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Pallikaranai. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling a property, the guideline value is compared to the sale price. The higher of the two figures is used to determine the applicable stamp duty and registration fees, which are mandatory for legal property transfer.

Frequently asked questions

What is the current guideline value of Sri Avenue?

The current guideline value of Sri Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 124 per sq.ft in 2003 to Rs 1,320 per sq.ft in 2024, reflecting an overall increase of 965% over the years.

What is the registration office for properties in Sri Avenue?

The registration office covering Sri Avenue is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Sri Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, a 1,000 sq.ft plot at Rs 1,320 per sq.ft would incur a stamp duty of Rs 92,400.

What other streets have guideline values in Pallikaranai?

Other streets in Pallikaranai include Sri Ambal Nagar Extn at Rs 1,980 per sq.ft, Sri Ganapathy Nagar 1st Street at Rs 1,630 per sq.ft, and Sri Nagar 1 St Street at Rs 1,320 per sq.ft, among others.