Guideline Value for SRI JAYALAKSHMI AVENUE

Sri Jayalakshmi Avenue guideline value

The current guideline value of Sri Jayalakshmi Avenue in Peruveli village is Rs 126 per sq.ft, effective from 1 July 2024. This property falls under the Madurandakam SRO and is classified as Mixed Type - I.

How the guideline value of Sri Jayalakshmi Avenue has changed

The guideline value for Sri Jayalakshmi Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 125 per sq.ft, which then decreased to Rs 84 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased by 50% to Rs 126 per sq.ft, which remained unchanged in the 2024 revision.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by just 1%.

Guideline values in Peruveli

In Peruveli, there are 12 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 600 per sq.ft. The median value for these streets is Rs 200 per sq.ft, indicating that the guideline value for Sri Jayalakshmi Avenue is below this median.

• Sri Sai Nagar Phase - I: Rs 250 per sq.ft (2024)
• Priyam Garden: Rs 200 per sq.ft (2024)
• Ngo Nagar Extension: Rs 200 per sq.ft (2024)
• Kamadenu Nagar: Rs 251 per sq.ft (2024)
• J.J.Nagar Extention - I: Rs 100 per sq.ft (2024)
• Aishwarya Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Jayalakshmi Avenue

For a 1,000 sq.ft plot at the current rate of Rs 126 per sq.ft, the guideline value amounts to Rs 1,26,000. The stamp duty at 7% would be Rs 8,820, and the registration fee at 2% would be Rs 2,520, totaling Rs 11,340. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Jayalakshmi Avenue?

The Sub Registrar Office that covers Sri Jayalakshmi 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 Peruveli

The guideline value is a critical factor during the registration of property transactions in Peruveli. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions.

When buying or selling property, it is essential to consider the guideline value, as it reflects the official valuation set by the government. This value can influence the overall costs associated with the transaction, including taxes and fees.

Frequently asked questions

What is the current guideline value of Sri Jayalakshmi Avenue?

The current guideline value of Sri Jayalakshmi Avenue is Rs 126 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 125 per sq.ft in 2012 to Rs 84 per sq.ft in 2017, then increased to Rs 126 per sq.ft in 2023 and remained the same in 2024.

What are the other streets in Peruveli and their guideline values?

Other streets in Peruveli include Sri Sai Nagar Phase - I at Rs 250 per sq.ft, Priyam Garden and Ngo Nagar Extension at Rs 200 per sq.ft, Kamadenu Nagar at Rs 251 per sq.ft, J.J.Nagar Extention - I at Rs 100 per sq.ft, and Aishwarya Nagar at Rs 200 per sq.ft.

What are the stamp duty and registration fees for properties in Sri Jayalakshmi Avenue?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 1,26,000, the total fees would amount to Rs 11,340.

Which office handles the registration for Sri Jayalakshmi Avenue?

The Madurandakam Sub Registrar Office handles the registration for Sri Jayalakshmi Avenue, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.