Guideline Value for SRI RAJESWARI AVENUE

Sri Rajeswari Avenue guideline value

The current guideline value of Sri Rajeswari Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Kovilancheri village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Sri Rajeswari Avenue has changed

The guideline value for Sri Rajeswari Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,000 per sq.ft, which remained until the 2017 revision, where it decreased to Rs 670 per sq.ft. However, this figure rose to Rs 1,000 per sq.ft in the 2023 revision, and finally, the current value is Rs 1,100 per sq.ft as per the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kovilancheri

Kovilancheri village has 13 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 4,130 per sq.ft, with a median value of Rs 1,660 per sq.ft. The guideline value of Sri Rajeswari Avenue is below this median.

• Sriram Nagar: Rs 1,650 per sq.ft (2024)
• Sri Bhavani Nagar: Rs 1,100 per sq.ft (2024)
• Sri Bhavani Nagar Extn: Rs 2,750 per sq.ft (2024)
• Rakeshsharma Nagar: Rs 1,100 per sq.ft (2024)
• Elite Crystal Gate: Rs 2,750 per sq.ft (2024)
• El Castillo: Rs 4,110 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Rajeswari Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. 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 further calculations.

Which Sub Registrar Office covers Sri Rajeswari Avenue?

The Sub Registrar Office covering Sri Rajeswari Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Kovilancheri. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling a property, the guideline value helps both buyers and sellers understand the legal valuation of the property. It is essential to be aware of these values to ensure compliance with local regulations and to avoid any potential disputes during the transaction.

Frequently asked questions

What is the current guideline value of Sri Rajeswari Avenue?

The current guideline value of Sri Rajeswari Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000, and the registration fee would be Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Sri Rajeswari Avenue?

The Tambaram Joint 1 Sub Registrar Office covers Sri Rajeswari Avenue, located at No.26, Mes Road, East Tambaram, Chennai-600059.

What is the land classification of Sri Rajeswari Avenue?

The land classification for Sri Rajeswari Avenue is Residential Special Type - II.