Guideline Value for SRI HARI AVENUE

Sri Hari Avenue guideline value

The current guideline value of Sri Hari Avenue is Rs 100 per sq.ft, effective from 1 July 2024. This street is located in Vellambakkam village under the Ponneri Sub Registrar Office, 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 undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 100 per sq.ft, which is the same as the 2023 revision. Prior to this, the 2017 revision recorded a guideline value of Rs 67 per sq.ft. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

When comparing the revisions, the guideline value increased by 49% from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2024. The value remained unchanged from 2023 to 2024, indicating a stable guideline value during that period.

Guideline values in Vellambakkam

Currently, no specific village figures are provided for Vellambakkam. Sri Hari Avenue is situated in this village, and there are no other streets in Vellambakkam listed under the Ponneri SRO.

Stamp duty and registration fee for property in Sri Hari Avenue

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, bringing the total cost to Rs 9,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Hari Avenue?

The Sub Registrar Office that covers Sri Hari Avenue is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, in the Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Vellambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Hari Avenue?

The current guideline value of Sri Hari Avenue is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 67 per sq.ft in 2017 to Rs 100 per sq.ft in 2024, marking a 49% increase. The value remained the same between the 2023 and 2024 revisions.

What is the land classification of Sri Hari Avenue?

Sri Hari Avenue is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. This office handles the registration of properties in the area.

How is stamp duty calculated for properties in Sri Hari Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 1,00,000, the stamp duty at 7% would be Rs 7,000, plus a registration fee of Rs 2,000, totaling Rs 9,000.