Guideline Value for SRI BHAGAVATHI AVENUE

Sri Bhagavathi Avenue guideline value

The current guideline value of Sri Bhagavathi Avenue is Rs 2,860 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village under the Kunrathur SRO, classified as Residential Special Type - II.

How the guideline value of Sri Bhagavathi Avenue has changed

The guideline value for Sri Bhagavathi Avenue has undergone several revisions over the years. The 2017 revision recorded a guideline value of Rs 1,742 per sq.ft. This increased significantly to Rs 2,600 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision shows a further increase to Rs 2,860 per sq.ft, which is a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mogalivakkam

In Mogalivakkam, there are 98 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Sri Bhagavathi Avenue's value below this median.

• Sri Balaji Nagar: Rs 2,970 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 3,520 per sq.ft (2024)
• Sivakami Nagar: Rs 2,970 per sq.ft (2024)
• Sri Ranga Avenue: Rs 2,530 per sq.ft (2024)
• Sri Thirumurugan nagar: Rs 2,970 per sq.ft (2024)
• Subhasri Nagar: Rs 2,970 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Bhagavathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,860 per sq.ft, the total guideline value would be Rs 28,60,000. The stamp duty at 7% would amount to Rs 2,00,200, while the registration fee at 2% would be Rs 57,200. Together, the total cost for these fees would be Rs 2,57,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Bhagavathi Avenue?

Sri Bhagavathi Avenue is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mogalivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. This ensures that all transactions are conducted transparently and fairly, adhering to the regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Sri Bhagavathi Avenue?

The current guideline value of Sri Bhagavathi Avenue is Rs 2,860 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,742 per sq.ft in 2017 to Rs 2,860 per sq.ft in 2024, which is an overall increase of 64%.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 28,60,000, the stamp duty would be Rs 2,00,200 and the registration fee would be Rs 57,200, totaling Rs 2,57,400.

Which office handles property registrations in this area?

The Kunrathur Sub Registrar Office handles property registrations for Sri Bhagavathi Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Sri Bhagavathi Avenue?

Sri Bhagavathi Avenue is classified as Residential Special Type - II, indicating its designated use for residential purposes.