Guideline Value for SRI ESWARAN AVENUE

Sri Eswaran Avenue guideline value

The current guideline value of Sri Eswaran Avenue is Rs 150 per sq.ft, effective from 1 July 2024. This street is located in Kinaar village, under the jurisdiction of the Madurandakam SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Sri Eswaran Avenue has changed

Since the 2012 revision, the guideline value for Sri Eswaran Avenue has seen various changes. In 2012, the guideline value was Rs 150 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 100 per sq.ft, marking a decrease of 33%. The value then increased by 50% to Rs 150 per sq.ft in the 2023 revision, and it has remained the same in the current 2024 revision, showing no change from the previous year.

There are no figures available for the years 2002, 2003, and 2007 in the register for this street. Therefore, the only revisions with figures are from 2012, 2017, 2023, and the current 2024 value.

Guideline values in Kinaar

In Kinaar, there are five streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 200 per sq.ft. The median guideline value for these streets is Rs 150 per sq.ft, which is equal to the current value of Sri Eswaran Avenue.

• Sri Sai Baba Nagar: Rs 100 per sq.ft (2024)
• Sri Sastha Nagar: Rs 100 per sq.ft (2024)
• Sai Baba Nagar: Rs 200 per sq.ft (2024)
• Adhistam Nagar & Adhistam Nagar Extension: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Eswaran Avenue

For a 1,000 sq.ft plot at the current rate of Rs 150 per sq.ft, the guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total fees Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Eswaran Avenue?

The Sub Registrar Office that covers Sri Eswaran Avenue is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Kinaar, as it determines the stamp duty and registration fees payable at the time of registration. Buyers and sellers must consider the guideline value to ensure compliance with the legal requirements for property transactions.

When a property is bought or sold, the guideline value is used to assess the tax obligations associated with the transaction. It is essential for both parties to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Sri Eswaran Avenue?

The current guideline value for Sri Eswaran Avenue is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft since 2012, with a decrease to Rs 100 per sq.ft in 2017, and then an increase back to Rs 150 per sq.ft in 2023 and 2024.

What is the land classification for Sri Eswaran Avenue?

Sri Eswaran Avenue is classified as Residential Special Type - III, indicating its use for residential purposes.

What are the stamp duty rates for properties in Sri Eswaran Avenue?

The stamp duty for properties in Sri Eswaran Avenue is 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value.

Where can I find the Sub Registrar Office for Sri Eswaran Avenue?

The Madurandakam Sub Registrar Office covers Sri Eswaran Avenue and is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.