Guideline Value for SRI NARGUNAM AVENUE

Sri Nargunam Avenue guideline value

The current guideline value of Sri Nargunam Avenue is Rs 850 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Class V Type - I.

How the guideline value of Sri Nargunam Avenue has changed

The guideline value for Sri Nargunam Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which then decreased to Rs 469 per sq.ft in the 2017 revision. Following this, the value saw a significant increase to Rs 800 per sq.ft in the 2023 revision, and it has now risen to Rs 850 per sq.ft in the 2024 revision, reflecting a 6% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 21%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft, with a median value of Rs 2,725 per sq.ft. Sri Nargunam Avenue's 2024 figure is below this median.

• Sri Moogambigai Nagar: Rs 1,600 per sq.ft (2024)
• Srinivasa Palms @ Perumbakkam: Rs 3,200 per sq.ft (2024)
• Sri Perumal Nagar: Rs 2,725 per sq.ft (2024)
• Sri Krishna Nagar 1st -5th Street (Vijayam Nagar Extension): Rs 3,300 per sq.ft (2024)
• Sri Sai Garden: Rs 3,200 per sq.ft (2024)
• Sri Sai Garden Annex: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nargunam Avenue

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 8,50,000. The stamp duty at 7% would be Rs 59,500, and the registration fee at 2% would be Rs 17,000, together totaling Rs 76,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Nargunam Avenue?

The Sub Registrar Office that covers Sri Nargunam Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Perumbakkam, the guideline value is used to calculate the stamp duty and registration fees, ensuring that these costs are based on an official valuation.

Additionally, the guideline value helps maintain transparency in property transactions, providing a standard reference point for buyers and sellers. It is crucial to be aware of the current guideline value when engaging in real estate activities in the area.

Frequently asked questions

What is the current guideline value of Sri Nargunam Avenue?

The current guideline value of Sri Nargunam Avenue is Rs 850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 800 per sq.ft in 2023, and is now Rs 850 per sq.ft in 2024.

What is the land classification of Sri Nargunam Avenue?

Sri Nargunam Avenue is classified as Residential Class V Type - I.

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

For a property valued at Rs 8,50,000, the stamp duty would be Rs 59,500 and the registration fee would be Rs 17,000, totaling Rs 76,500.

Which office handles registrations for Sri Nargunam Avenue?

The Selaiyur Sub Registrar Office handles registrations for Sri Nargunam Avenue, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.