Guideline Value for SRI SARANGABANI AVENUE

Sri Sarangabani Avenue guideline value

The current guideline value of Sri Sarangabani Avenue is Rs 2,900 per sq.ft. This street is located in Chitthalapakkam village, under the Selaiyur SRO, and is classified as Industries Type - I.

How the guideline value of Sri Sarangabani Avenue has changed

The guideline value for Sri Sarangabani Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which was a decrease of 33% from Rs 1,809 per sq.ft in the 2017 revision. The 2023 revision increased the value to Rs 2,700 per sq.ft, and the most recent 2024 revision raised it to Rs 2,900 per sq.ft, marking a 7% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 7%. Notably, there are no figures available in the register for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value is Rs 2,900 per sq.ft, which is the same as the guideline value for Sri Sarangabani Avenue.

• Srinivasa Nagar: Rs 2,900 per sq.ft (2024)
• Sri Nagalakshmi Avenue: Rs 3,300 per sq.ft (2024)
• TAMIL NADU HOUSING BOARD (E.W.S A Type & B Type): Rs 2,700 per sq.ft (2024)
• Tamilnadu Housing Board (L.I.G & H.I.G): Rs 3,300 per sq.ft (2024)
• Tamilselvi Nagar: Rs 2,900 per sq.ft (2024)
• Thaumanavar Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sarangabani Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total to Rs 2,61,000. It is important to note that 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.

Which Sub Registrar Office covers Sri Sarangabani Avenue?

The Sub Registrar Office that covers Sri Sarangabani Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for additional details.

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

The guideline value is a crucial factor in the registration process of property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum sale price at which a property can be registered, ensuring that the transaction is transparent and fair.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with property transactions. Understanding the guideline value is essential for both buyers and sellers to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Sri Sarangabani Avenue?

The current guideline value of Sri Sarangabani Avenue is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, reflecting a 7% increase. It was Rs 1,809 per sq.ft in 2017, and the value was Rs 2,700 per sq.ft in 2012.

What are the other streets in Chitthalapakkam with their guideline values?

Other streets in Chitthalapakkam include Srinivasa Nagar and Tamilselvi Nagar, both at Rs 2,900 per sq.ft, and Sri Nagalakshmi Avenue at Rs 3,300 per sq.ft as of 2024.

What is the registration fee for property in Sri Sarangabani Avenue?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 29,00,000, the registration fee would be Rs 58,000.

Which office handles registrations for Sri Sarangabani Avenue?

The Selaiyur Sub Registrar Office handles registrations for Sri Sarangabani Avenue. It is located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.