Guideline Value for SRI RANGANATHAN AVENUE

Sri Ranganathan Avenue guideline value

The current guideline value of Sri Ranganathan Avenue is Rs 550 per sq.ft, effective from 1 July 2024. This street is located in Sirukalathur village and falls under the Kunrathur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Ranganathan Avenue has changed

The guideline value for Sri Ranganathan Avenue has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. Following this, there was a significant increase to Rs 500 per sq.ft in 2023, and the latest revision in 2024 brought it to Rs 550 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, the value decreased by 33%. However, between 2017 and 2023, it increased by 49%. The change from 2023 to 2024 reflects a 10% increase. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Sirukalathur

In Sirukalathur, there are 32 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 450 to Rs 2,970 per sq.ft. The median value for these streets is Rs 550 per sq.ft, which is equal to the guideline value of Sri Ranganathan Avenue.

• Sri Ranganathan Nagar: Rs 550 per sq.ft (2024)
• Sri Srinivasa Perumal Avenue: Rs 550 per sq.ft (2024)
• Sri Sri Srinivasa Perumal Avenue: Rs 1,000 per sq.ft (2024)
• Suraj Kudiyiruppu: Rs 500 per sq.ft (2024)
• Sri Badmavathi Nagar: Rs 1,000 per sq.ft (2024)
• Smart City: Rs 650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ranganathan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, bringing the total cost for these fees to Rs 49,500. 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 details.

Which Sub Registrar Office covers Sri Ranganathan Avenue?

The Sub Registrar Office that covers Sri Ranganathan Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Sirukalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable fees. This ensures that the government receives the correct revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Sri Ranganathan Avenue?

The current guideline value of Sri Ranganathan Avenue is Rs 550 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 increased to Rs 500 per sq.ft in 2023, and finally to Rs 550 per sq.ft in 2024.

What is the land classification for Sri Ranganathan Avenue?

Sri Ranganathan Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Sri Ranganathan Avenue?

The registration office for Sri Ranganathan Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the guideline value of Rs 5,50,000 would incur a stamp duty of Rs 38,500 and a registration fee of Rs 11,000.