Guideline Value for SRI SAI AVENUE

Sri Sai Avenue guideline value

The current guideline value of Sri Sai Avenue in Pazhaveri village is Rs 101 per sq.ft, effective from 1 July 2024. This property falls under the Salavakkam SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Sai Avenue has changed

The guideline value for Sri Sai Avenue has seen several revisions over the years. In 2012, the guideline value was Rs 50 per sq.ft, which then decreased to Rs 33 per sq.ft in 2017. Following this, the value increased significantly to Rs 100 per sq.ft in 2023, and it has now risen to Rs 101 per sq.ft in the 2024 revision, reflecting a 1% increase from the previous year. The register has no figures for the years 2002, 2003, and 2007.

Overall, from 2012 to 2024, the guideline value has increased by 102%. The most notable change occurred between 2017 and 2023, where the value surged by 203%. This increase indicates a significant adjustment in the valuation of properties in this area over the years.

Guideline values in Pazhaveri

In Pazhaveri, there are four streets that have a guideline value for 2024, ranging from Rs 100 to Rs 102 per sq.ft. The median guideline value for these streets is Rs 102 per sq.ft, making the current value of Sri Sai Avenue below that median.

• Barani Garden: Rs 100 per sq.ft (2024)
• Anjhanaa Nagar Phase-1: Rs 102 per sq.ft (2024)
• Anjana Nagar Phase-II: Rs 102 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 guideline value of Rs 101 per sq.ft, the total guideline value amounts to Rs 1,01,000. The stamp duty at 7% would be Rs 7,070, and the registration fee at 2% would be Rs 2,020, bringing the total fees to Rs 9,090. 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 details on calculating these fees.

Which Sub Registrar Office covers Sri Sai Avenue?

The Sub Registrar Office that covers Sri Sai Avenue is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

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

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Sai Avenue?

The current guideline value of Sri Sai Avenue is Rs 101 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 50 per sq.ft in 2012 to Rs 101 per sq.ft in 2024, with significant increases noted particularly between 2017 and 2023.

What are the other streets in Pazhaveri with guideline values?

Other streets in Pazhaveri include Barani Garden at Rs 100 per sq.ft, Anjhanaa Nagar Phase-1 at Rs 102 per sq.ft, and Anjana Nagar Phase-II also at Rs 102 per sq.ft for 2024.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 1,01,000, leading to a stamp duty of Rs 7,070 and a registration fee of Rs 2,020, totaling Rs 9,090.

Which office handles the registration for properties in Sri Sai Avenue?

The Salavakkam Sub Registrar Office handles the registration for properties in Sri Sai Avenue, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.