Guideline Value for SRI HARI AVENUE

Sri Hari Avenue guideline value

The current guideline value of Sri Hari Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Okkiyamthuraipakkam village under the Neelankarai SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Hari Avenue has changed

The guideline value for Sri Hari Avenue has seen several revisions over the years. The oldest recorded revision in the register is from 2007, where the value was Rs 660 per sq.ft. This increased significantly to Rs 3,000 per sq.ft in 2012, marking a 355% rise. However, it then decreased to Rs 2,010 per sq.ft in 2017, a decline of 33%. The value rose again to Rs 3,000 per sq.ft in 2023, and finally, it reached Rs 3,300 per sq.ft in 2024, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 400%.

Guideline values in Okkiyamthuraipakkam

In Okkiyamthuraipakkam, there are 453 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the current guideline value of Sri Hari Avenue.

• Sri Malar Garden Layout: Rs 1,700 per sq.ft (2024)
• Sri Nagar: Rs 2,800 per sq.ft (2024)
• Sri Nagar New Street: Rs 2,800 per sq.ft (2024)
• Sri Amman Nagar: Rs 1,700 per sq.ft (2024)
• Srinivasa Nagar: Rs 2,800 per sq.ft (2024)
• Sports Avenue: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Hari Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Sri Hari Avenue?

The Sub Registrar Office covering Sri Hari Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor in property transactions in Okkiyamthuraipakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value for calculating stamp duty and registration fees during the sale process.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the registration reflects an accurate market value. This helps maintain transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Hari Avenue?

The current guideline value of Sri Hari Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 660 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 400% over this period.

What are the stamp duty and registration fees for Sri Hari Avenue?

The stamp duty for a property at the current guideline value would be Rs 2,31,000, while the registration fee would be Rs 66,000, totaling Rs 2,97,000 for a 1,000 sq.ft plot.

Which office handles registrations for Sri Hari Avenue?

The Neelankarai Sub Registrar Office handles registrations for Sri Hari Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

What is the land classification of Sri Hari Avenue?

Sri Hari Avenue is classified as Residential Class II Type - I, which is relevant for determining its guideline value and usage.