Guideline Value for SRI SAI BALAJI AVENUE

Sri Sai Balaji Avenue guideline value

The current guideline value of Sri Sai Balaji Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Kovur village, under the Kunrathur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Sri Sai Balaji Avenue has changed

In the 2023 revision, the guideline value for Sri Sai Balaji Avenue was Rs 3,000 per sq.ft. This marked an increase of 10% from the previous revision, leading to the current value of Rs 3,300 per sq.ft in the 2024 revision. The register has no figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only recorded revisions are from 2023 to 2024, showing a clear upward trend in the guideline value for this property. The increase reflects the latest adjustments made by the Registration Department.

Guideline values in Kovur

Kovur village has 91 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, positioning Sri Sai Balaji Avenue above this median.

• Sri Sai Garden: Rs 2,300 per sq.ft (2024)
• Sriram Nagar: Rs 1,320 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 1,430 per sq.ft (2024)
• Sri Thirumal Nagar: Rs 1,430 per sq.ft (2024)
• Sri Vaishnavi Avenue & Extention I, II: Rs 1,650 per sq.ft (2024)
• Sri Vijayalakshmi Nagar: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai Balaji Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Sai Balaji Avenue?

The Sub Registrar Office that covers Sri Sai Balaji 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 Kovur

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

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these charges are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Sri Sai Balaji Avenue?

The current guideline value of Sri Sai Balaji Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, marking a 10% increase. There are no recorded figures for the years 2017, 2012, 2007, 2003, and 2002 for this street.

What is the median guideline value in Kovur?

The median guideline value in Kovur village is Rs 1,650 per sq.ft, with Sri Sai Balaji Avenue's value being above this median.

What are the stamp duty rates applicable in Sri Sai Balaji Avenue?

The stamp duty rate is 7% on the guideline value or sale price, whichever is higher. For example, for a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000.

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

The Sub Registrar Office for Sri Sai Balaji Avenue is located at No.59, Road Street, Kundrathur, Chennai -600 069. You can also find your SRO online.