Guideline Value for SRI JAYA AVENUE

Sri Jaya Avenue guideline value

The current guideline value of Sri Jaya Avenue in Polambakkam village is Rs 275 per sq.ft, effective from 1 July 2024. This street falls under the Madurandakam Sub Registrar Office (SRO) and is classified as Mixed Type - I land.

How the guideline value of Sri Jaya Avenue has changed

Since the 2012 revision, the guideline value for Sri Jaya Avenue has seen fluctuations. The 2012 revision set the value at Rs 275 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value dropped to Rs 184 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 275 per sq.ft. The 2024 revision also maintains this value, reflecting no change from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the revisions available are 2012, 2017, 2023, and the current 2024 value, which is consistent with the 2023 figure.

Guideline values in Polambakkam

In Polambakkam, there are 14 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 400 per sq.ft. The median value for these streets is Rs 200 per sq.ft, placing Sri Jaya Avenue's 2024 figure above that median.

• Sri Ganapathy Nagar: Rs 103 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 100 per sq.ft (2024)
• Sri Mahalakshmi Nagar: Rs 275 per sq.ft (2024)
• Sri Pandurangan Nagar Phaseh -I: Rs 100 per sq.ft (2024)
• Sri Pandurangan Nagar Phaseh -II: Rs 100 per sq.ft (2024)
• Thillai Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jaya Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 275 per sq.ft, the total guideline value would be Rs 2,75,000. The stamp duty, charged at 7%, would amount to Rs 19,250, while the registration fee at 2% would be Rs 5,500, bringing the total fees to Rs 24,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Jaya Avenue?

The Sub Registrar Office that covers Sri Jaya 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 Polambakkam

The guideline value is a crucial factor in the registration process of property transactions in Polambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. This value is used to calculate the applicable taxes and fees, which are essential for completing the legal transfer of ownership.

Frequently asked questions

What is the current guideline value of Sri Jaya Avenue?

The current guideline value of Sri Jaya Avenue is Rs 275 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 275 per sq.ft from 2012 to 2024, with a notable increase of 49% from Rs 184 per sq.ft in 2017 to Rs 275 per sq.ft in 2023.

What are the other streets in Polambakkam with their guideline values?

Other streets in Polambakkam include Sri Ganapathy Nagar at Rs 103 per sq.ft, Sri Lakshmi Nagar at Rs 100 per sq.ft, and Sri Mahalakshmi Nagar at Rs 275 per sq.ft, among others.

What is the stamp duty for property in Sri Jaya Avenue?

The stamp duty for a property in Sri Jaya Avenue is calculated at 7% of the guideline value. For a 1,000 sq.ft plot, this amounts to Rs 19,250.

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

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