Guideline Value for SRI MAHENDHRA AVENUE

Sri Mahendhra Avenue guideline value

The current guideline value of Sri Mahendhra Avenue is Rs 900 per sq.ft, effective from 1 July 2024. This street is located in Ponneri village, under the Ponneri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Mahendhra Avenue has changed

The guideline value for Sri Mahendhra Avenue has undergone significant changes over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 300 per sq.ft, which increased to Rs 900 per sq.ft in the 2024 revision, marking a substantial increase of 200%.

Prior to the 2023 revision, there were no recorded figures for the street. The 2024 figure of Rs 900 per sq.ft is notably higher than the median guideline value of Rs 700 per sq.ft for other streets in Ponneri under the Ponneri SRO.

Guideline values in Ponneri

In Ponneri, there are 120 streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 201 to Rs 1,200 per sq.ft. The guideline value of Sri Mahendhra Avenue is above the median value of Rs 700 per sq.ft. Below are some other streets in Ponneri:

• Sri Karikrishna Perumal Nagar: Rs 700 per sq.ft (2024)
• Sri Sai Nagar: Rs 700 per sq.ft (2024)
• Sri Shakthi Nagar: Rs 700 per sq.ft (2024)
• Sowdambigai Nagar: Rs 700 per sq.ft (2024)
• Sivaraj Street: Rs 1,200 per sq.ft (2024)
• Sivan Kovil Street: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Mahendhra Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 900 per sq.ft, the total guideline value amounts to Rs 9,00,000. The stamp duty at 7% would be Rs 63,000, and the registration fee at 2% would be Rs 18,000, totaling Rs 81,000. 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 Mahendhra Avenue?

The Sri Mahendhra Avenue falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling properties in Ponneri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties. 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 Mahendhra Avenue?

The current guideline value of Sri Mahendhra Avenue is Rs 900 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed recently?

Recently, the guideline value changed from Rs 300 per sq.ft in 2023 to Rs 900 per sq.ft in 2024, representing a 200% increase.

What is the land classification of Sri Mahendhra Avenue?

Sri Mahendhra Avenue is classified as Residential Class I Type - I.

Where can I find the Ponneri Sub Registrar Office?

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

How is the stamp duty calculated for properties in Sri Mahendhra Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 9,00,000 would incur a stamp duty of Rs 63,000 at 7%.