Guideline Value for SRI GURU AVENUE

Sri Guru Avenue guideline value

The current guideline value of Sri Guru Avenue, located in Mangadu -A village under the Kunrathur SRO, is Rs 2,350 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class IV Type - V.

How the guideline value of Sri Guru Avenue has changed

The guideline value for Sri Guru Avenue has seen several revisions over the years. The 2017 revision set the value at Rs 1,541 per sq.ft, which then decreased to Rs 1,407 per sq.ft in the 2023 revision. However, the latest revision in 2024 has significantly increased the value to Rs 2,350 per sq.ft, marking a change of +67% from the previous year. Overall, from 2017 to 2024, the guideline value has increased by +52%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes between the revisions indicate a fluctuation in the guideline value, with a decrease of -9% from 2017 to 2023 before the recent increase.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,870 per sq.ft, placing Sri Guru Avenue's 2024 figure above this median.

• Sri Iyyappan Nagar: Rs 1,480 per sq.ft (2024)
• Sri Kali Amman Nagar Extension: Rs 1,980 per sq.ft (2024)
• Sri Kamatchi Amman Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Sri Kamatchi Amman Nagar Annexe II: Rs 2,200 per sq.ft (2024)
• Sri Kamatchi Avenue: Rs 2,200 per sq.ft (2024)
• Sri Krishna Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Guru Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,350 per sq.ft, the total guideline value would be Rs 23,50,000. The stamp duty at 7% would amount to Rs 1,64,500, and the registration fee at 2% would be Rs 47,000, bringing the total charges to Rs 2,11,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Guru Avenue?

The Sub Registrar Office that covers Sri Guru Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Mangadu -A

The guideline value is a crucial factor in the registration process when buying or selling property. It determines the minimum value at which a property can be registered, ensuring that the transaction is documented accurately and fairly.

When a property is sold, the guideline value helps in calculating the stamp duty and registration fees, which are essential for the legal transfer of ownership. Buyers and sellers must be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Guru Avenue?

The current guideline value of Sri Guru Avenue is Rs 2,350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,541 per sq.ft in 2017 to Rs 1,407 per sq.ft in 2023, and then increased to Rs 2,350 per sq.ft in 2024, marking an overall increase of +52% from 2017 to 2024.

What are the stamp duty and registration fees for property in Sri Guru Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 23,50,000. The stamp duty would be Rs 1,64,500, and the registration fee would be Rs 47,000, totaling Rs 2,11,500.

Which Sub Registrar Office covers Sri Guru Avenue?

The Kunrathur Sub Registrar Office covers Sri Guru Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum registration value for property transactions. It is also essential for calculating the stamp duty and registration fees that buyers and sellers must pay during the registration process.