Guideline Value for SRI RAGHAVENDRA AVENUE

Sri Raghavendra Avenue guideline value

The current guideline value of Sri Raghavendra Avenue is Rs 1,000 per sq.ft. This street is located in Melakottyur village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - III.

How the guideline value of Sri Raghavendra Avenue has changed

Over the years, the guideline value of Sri Raghavendra Avenue has undergone several revisions. The 2012 revision set the guideline value at Rs 1,000 per sq.ft, which remained unchanged until the 2023 revision, where it was again set at Rs 1,000 per sq.ft. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, marking a decline of 33% from the 2012 figure. The most significant change occurred between the 2017 and 2023 revisions, where the value increased by 49%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2024 for this street. Overall, from 2012 to 2023, the guideline value has remained the same, showing a 0% change over this period.

Guideline values in Melakottyur

Currently, there are no specific guideline values for other streets in Melakottyur. Sri Raghavendra Avenue is the only street mentioned in the available data.

Stamp duty and registration fee for property in Sri Raghavendra Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. It is essential 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 accurate calculations based on your property details.

Which Sub Registrar Office covers Sri Raghavendra Avenue?

The Gooduvancheri Sub Registrar Office covers Sri Raghavendra Avenue. The office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Melakottyur. It serves as a benchmark for determining the minimum value at which property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two figures is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations and avoiding any legal issues during the transaction.

Frequently asked questions

What is the current guideline value of Sri Raghavendra Avenue?

The current guideline value of Sri Raghavendra Avenue is Rs 1,000 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has seen a decrease from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, followed by an increase back to Rs 1,000 per sq.ft in 2023. Overall, from 2012 to 2023, there has been no change in the guideline value.

What is the land classification for Sri Raghavendra Avenue?

The land classification for Sri Raghavendra Avenue is Residential Special Type - III, indicating its intended use for residential purposes.

What are the stamp duty and registration fees for a property in Sri Raghavendra Avenue?

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. This office handles the registration of properties in the area.