Guideline Value for SRI KUBERAN AVENUE

Sri Kuberan Avenue guideline value

The current guideline value of Sri Kuberan Avenue is Rs 450 per sq.ft, effective from 1 July 2024. This street is located in Kalivanthapattu village, under the Thiruporur Sub Registrar Office (SRO). The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Kuberan Avenue has changed

Looking at the revisions over the years, the guideline value for Sri Kuberan Avenue has seen several changes. The 2012 revision set the value at Rs 450 per sq.ft, which remained unchanged until the 2023 revision. In 2017, the value was Rs 301 per sq.ft, marking a decrease of 33% from the previous figure. From 2017 to 2023, there was an increase of 50%, bringing the value back to Rs 450 per sq.ft. The current 2024 revision maintains this figure, showing no change from the 2023 revision.

There are no registered figures for the years 2002, 2003, and 2007 for Sri Kuberan Avenue, indicating that the register does not contain any data for these years. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 450 per sq.ft.

Guideline values in Kalivanthapattu

In Kalivanthapattu, there are 19 streets under the Thiruporur SRO that carry a 2024 guideline value, ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 605 per sq.ft, placing Sri Kuberan Avenue's 2024 figure below this median.

• Sri Krishna Nagar: Rs 605 per sq.ft (2024)
• Sri Munnusamy Nagar: Rs 600 per sq.ft (2024)
• Sri Nagar: Rs 450 per sq.ft (2024)
• Sri Aishwaryam Nagar: Rs 896 per sq.ft (2024)
• Sundrapuram: Rs 600 per sq.ft (2024)
• Thirunagar: Rs 450 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Kuberan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 450 per sq.ft, the total guideline value amounts to Rs 4,50,000. The stamp duty at 7% would be Rs 31,500, and the registration fee at 2% would be Rs 9,000, bringing the total cost for these fees to Rs 40,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Kuberan Avenue?

The Sub Registrar Office that covers Sri Kuberan Avenue is the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Kalivanthapattu. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than the negotiated sale price.

During the registration process, buyers and sellers must be aware that the stamp duty is charged on the higher of the guideline value or the sale price. This means that if the sale price exceeds the guideline value, the stamp duty will be calculated based on the sale price instead.

Frequently asked questions

What is the current guideline value of Sri Kuberan Avenue?

The current guideline value of Sri Kuberan Avenue is Rs 450 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several changes, with the most recent revision in 2024 maintaining the value at Rs 450 per sq.ft, unchanged from 2023. The value was Rs 301 per sq.ft in 2017 and Rs 450 per sq.ft in 2012.

What are the guideline values of other streets in Kalivanthapattu?

Other streets in Kalivanthapattu have varying guideline values, with rates ranging from Rs 300 to Rs 2,000 per sq.ft. For example, Sri Krishna Nagar is valued at Rs 605 per sq.ft, while Sri Aishwaryam Nagar is at Rs 896 per sq.ft.

What is the stamp duty rate for properties in Sri Kuberan Avenue?

The stamp duty rate for properties in Sri Kuberan Avenue is 7%, calculated based on the higher of the guideline value or the sale price. This ensures that the appropriate fees are applied during the registration process.

Where can I find the Thiruporur Sub Registrar Office?

The Thiruporur Sub Registrar Office is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. This office handles the registration of properties in the area.