Guideline Value for SRI RAGHAVENDHARAR AVENUE PHASE- I

Sri Raghavendharar Avenue Phase- I guideline value

The current guideline value of Sri Raghavendharar Avenue Phase- I is Rs 500 per sq.ft, effective from 1 July 2024. This property is located in Cholanthangal village under the Madurandakam SRO, classified as Mixed Type - I.

How the guideline value of Sri Raghavendharar Avenue Phase- I has changed

The guideline value for Sri Raghavendharar Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 500 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 335 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 500 per sq.ft. The 2024 revision maintained this value, reflecting no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 500 per sq.ft.

Guideline values in Cholanthangal

In Cholanthangal, there are 6 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 150 to Rs 700 per sq.ft. The median value for these streets is Rs 500 per sq.ft, which is the same as the current value for Sri Raghavendharar Avenue Phase- I.

• Sri Raghavendharar Avenue: Rs 500 per sq.ft (2024)
• Thulaci Promoters - Kamala Nagar: Rs 500 per sq.ft (2024)
• Vallalar Nagar: Rs 150 per sq.ft (2024)
• Viruksham Avenue: Rs 600 per sq.ft (2024)
• யோகாலயா அவென்யூ: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Raghavendharar Avenue Phase- I

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. 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 precise calculations.

Which Sub Registrar Office covers Sri Raghavendharar Avenue Phase- I?

The Sub Registrar Office that covers Sri Raghavendharar Avenue Phase- I 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 Cholanthangal

The guideline value plays a crucial role when buying or selling property in Cholanthangal. It is used to determine the stamp duty and registration fees that must be paid during the registration process. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value is essential for both buyers and sellers, as it ensures compliance with legal requirements during property transactions. It also helps in estimating the overall cost involved in the buying or selling process.

Frequently asked questions

What is the current guideline value of Sri Raghavendharar Avenue Phase- I?

The current guideline value of Sri Raghavendharar Avenue Phase- I is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then back to Rs 500 per sq.ft in 2023 and 2024. Overall, from 2012 to 2024, the value has remained unchanged.

Which Sub Registrar Office is responsible for Sri Raghavendharar Avenue Phase- I?

The Madurandakam Sub Registrar Office is responsible for Sri Raghavendharar Avenue Phase- I, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 5,00,000, the total fees would amount to Rs 45,000.

How is the guideline value determined for properties in Cholanthangal?

The guideline value is determined by the Registration Department and is based on various factors, including land classification and comparable properties in the area. It is regularly revised to reflect current market conditions.