Guideline Value for SRI LAKSHMI AVENUE

Sri Lakshmi Avenue guideline value

The current guideline value of Sri Lakshmi Avenue is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Ariyanvoyal village, which falls under the Ponneri Sub Registrar Office (SRO). The land classification for this area is Residential Class II Type - I.

How the guideline value of Sri Lakshmi Avenue has changed

The guideline value for Sri Lakshmi Avenue has seen several revisions over the years. In 2012, the value was set at Rs 300 per sq.ft. This figure changed to Rs 201 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 300 per sq.ft, which is a rise of 49%. The most recent revision in 2024 has increased the guideline value to Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

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 10%.

Guideline values in Ariyanvoyal

Ariyanvoyal village has a total of 26 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 880 per sq.ft. The median value for these streets is Rs 330 per sq.ft, which is the same as the guideline value for Sri Lakshmi Avenue.

• Singaraswami Nagar: Rs 330 per sq.ft (2024)
• Shanthi Nagar @ Thirupathy Nagar: Rs 330 per sq.ft (2024)
• Shanmugam Nagar: Rs 440 per sq.ft (2024)
• Thangavelpuram: Rs 440 per sq.ft (2024)
• Thirupathy Nagar: Rs 440 per sq.ft (2024)
• Sakthivel Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Lakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty is charged at 7%, which totals Rs 23,100, and the registration fee is charged at 2%, amounting to Rs 6,600. Together, the total cost for stamp duty and registration fee is Rs 29,700. It is important to note that the 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 Lakshmi Avenue?

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

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

The guideline value plays a crucial role in property transactions in Ariyanvoyal, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that all transactions are in compliance with local regulations.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly affects the financial aspects of property transactions. Accurate knowledge of the guideline value can help in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Sri Lakshmi Avenue?

The current guideline value of Sri Lakshmi Avenue is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2012 to Rs 201 per sq.ft in 2017, then to Rs 300 per sq.ft in 2023, and finally to Rs 330 per sq.ft in 2024.

What is the land classification for Sri Lakshmi Avenue?

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

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

For a property valued at Rs 3,30,000, the stamp duty is Rs 23,100, and the registration fee is Rs 6,600, totaling Rs 29,700.

Where is the Sub Registrar Office for Sri Lakshmi Avenue located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204, covering Sri Lakshmi Avenue.