Guideline Value for SRI Aravindar Street

SRI Aravindar Street guideline value

The current guideline value of SRI Aravindar Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of SRI Aravindar Street has changed

The guideline value for SRI Aravindar Street has seen revisions over the years. The earliest recorded revision is from 2012, where the guideline value was Rs 3,500 per sq.ft. This figure was updated to Rs 3,850 per sq.ft in the 2024 revision, marking a change of +10% from the previous figure.

There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street. The most recent revision, effective from 1 July 2024, establishes the current guideline value at Rs 3,850 per sq.ft.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median guideline value is Rs 3,850 per sq.ft, which aligns with the current value for SRI Aravindar Street.

• SRI Aravindar 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Sri Balaji Nagar 1st Street: Rs 3,850 per sq.ft (2024)
• Sri Balaji Nagar 2nd Street: Rs 3,850 per sq.ft (2024)
• Sri Balaji Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Sri Balaji Nagar (Thilagar Street): Rs 3,850 per sq.ft (2024)
• SRI DEVI KARUMARIAMMAN NAGAR - Chelliyammal Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in SRI Aravindar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers SRI Aravindar Street?

The Sub Registrar Office that covers SRI Aravindar Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

When buying or selling property in Valasaravakkam, the guideline value plays a crucial role in determining the registration fees and stamp duty. The guideline value is used as a benchmark to assess the value of the property transaction, ensuring that the fees are calculated accurately based on the established rates.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of SRI Aravindar Street?

The current guideline value of SRI Aravindar Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for SRI Aravindar Street was Rs 3,500 per sq.ft in 2012 and increased to Rs 3,850 per sq.ft in 2024, representing a +10% change. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification for SRI Aravindar Street?

SRI Aravindar Street is classified as Residential Class II Type - I, which indicates its zoning for residential purposes.

What are the stamp duty and registration fees for a property in SRI Aravindar Street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value.

Which Sub Registrar Office covers SRI Aravindar Street?

The Virugambakkam Sub Registrar Office covers SRI Aravindar Street, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.