Guideline Value for SRI JAGANATH AVENUE

Sri Jaganath Avenue guideline value

The current guideline value of Sri Jaganath Avenue is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Thiruvancheri village, under the Pallavaram SRO, and is classified as Residential Special Type - III.

How the guideline value of Sri Jaganath Avenue has changed

The guideline value for Sri Jaganath Avenue has seen several revisions over the years. The 2023 revision set the value at Rs 3,500 per sq.ft, which was an increase from previous years. Notably, there are no figures available for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

With the 2024 revision, the guideline value increased to Rs 3,850 per sq.ft, reflecting a 10% rise from the 2023 figure. This increase places the current guideline value above the median of Rs 1,980 per sq.ft for the 70 streets in Thiruvancheri under the Pallavaram SRO.

Guideline values in Thiruvancheri

In Thiruvancheri, the guideline values range from Rs 1,100 to Rs 5,000 per sq.ft, with a median of Rs 1,980 per sq.ft. Sri Jaganath Avenue's 2024 guideline value of Rs 3,850 per sq.ft is above this median.

• Sriram Nagar: Rs 2,530 per sq.ft (2024)
• Siva Shanmuga Pillai Street: Rs 1,980 per sq.ft (2024)
• Serenity Paradise: Rs 3,850 per sq.ft (2024)
• Serasa Pride Phase - III: Rs 3,850 per sq.ft (2024)
• Serasa Pride Phase - 2: Rs 3,850 per sq.ft (2024)
• Selvavinayagar Kovil Street: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jaganath Avenue

For a 1,000 sq.ft plot at the current rate of Rs 3,850 per sq.ft, the guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, totaling Rs 3,46,500. Please note that 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 details.

Which Sub Registrar Office covers Sri Jaganath Avenue?

The Sub Registrar Office that covers Sri Jaganath Avenue is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Thiruvancheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sri Jaganath Avenue?

The current guideline value of Sri Jaganath Avenue is Rs 3,850 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

The guideline value increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, marking a 10% rise.

What is the classification of land on Sri Jaganath Avenue?

Sri Jaganath Avenue is classified as Residential Special Type - III according to the land classification guidelines.

Where can I find the registration office for Sri Jaganath Avenue?

The registration office for Sri Jaganath Avenue is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Sri Jaganath 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 38,50,000, the stamp duty would be Rs 2,69,500 at a rate of 7%.