Guideline Value for SRI SAI AVENUE

Sri Sai Avenue guideline value

The current guideline value of Sri Sai Avenue in Perumattu Nellore village is Rs 800 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Sri Sai Avenue has changed

Looking at the historical revisions, the guideline value for Sri Sai Avenue has undergone several changes. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012, representing a 300% rise. However, it dropped to Rs 536 per sq.ft in 2017, a decrease of 33%. The value remained at Rs 800 per sq.ft in 2023 and continues at the same rate in the 2024 revision, showing no change from the previous year.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 300%.

Guideline values in Perumattu Nellore

In Perumattu Nellore, there are 83 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 500 to Rs 2,850 per sq.ft. The median value for these streets is Rs 700 per sq.ft, placing Sri Sai Avenue's 2024 figure above that median.

• Sri Ram Avenue: Rs 2,500 per sq.ft (2024)
• Sri Sathya Nagar Phase 1: Rs 700 per sq.ft (2024)
• Sri Sathya Nagar Phase 2: Rs 700 per sq.ft (2024)
• Sri Sathya Nagar Phase 3: Rs 700 per sq.ft (2024)
• Sri Sathya Sai Nagar Extension: Rs 700 per sq.ft (2024)
• Sri Sathya Sai Nagar Phase-II: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai Avenue

For a 1,000 sq.ft plot at the current rate of Rs 800 per sq.ft, the guideline value amounts to Rs 8,00,000. The stamp duty at 7% would be Rs 56,000, and the registration fee at 2% would be Rs 16,000, totaling Rs 72,000. 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 information on fees.

Which Sub Registrar Office covers Sri Sai Avenue?

The Sub Registrar Office that covers Sri Sai Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Perumattu Nellore. It serves as the minimum value for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is compared against the sale price. The higher of the two values is used to determine the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Sri Sai Avenue?

The current guideline value of Sri Sai Avenue is Rs 800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with a significant increase from Rs 200 per sq.ft in 2007 to Rs 800 per sq.ft in 2012, followed by a drop to Rs 536 per sq.ft in 2017. It has remained stable at Rs 800 per sq.ft in both 2023 and 2024.

What is the median guideline value in Perumattu Nellore?

The median guideline value in Perumattu Nellore is Rs 700 per sq.ft, with Sri Sai Avenue's 2024 figure being above this median.

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

For a 1,000 sq.ft plot at the current guideline value of Rs 8,00,000, the stamp duty would be Rs 56,000 and the registration fee would be Rs 16,000, totaling Rs 72,000.

Where can I find the Sub Registrar Office for Sri Sai Avenue?

The Sub Registrar Office for Sri Sai Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.