Guideline Value for SRI SARASWATHI AVENUE

Sri Saraswathi Avenue guideline value

The current guideline value of Sri Saraswathi Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO, classified as Commercial Special Type - IV.

How the guideline value of Sri Saraswathi Avenue has changed

In the 2017 revision, the guideline value was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision. However, the 2024 revision saw an increase to Rs 2,750 per sq.ft, marking a 10% rise from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value increased by 10%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,310 per sq.ft, placing Sri Saraswathi Avenue's 2024 figure above that median.

• Sri Sathya Nagar: Rs 2,310 per sq.ft (2024)
• Sri Sanjay Garden: Rs 2,310 per sq.ft (2024)
• Sri Seshadri Garden Theru: Rs 1,650 per sq.ft (2024)
• Sri Sri Enclave: Rs 2,310 per sq.ft (2024)
• Sri Ram Properties: Rs 4,290 per sq.ft (2024)
• Sriram Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Saraswathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Saraswathi Avenue?

The Sub Registrar Office that covers Sri Saraswathi Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Perungalathur. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value as per government standards.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. It is important to note that these charges are based on the higher of the guideline value and the sale price, ensuring compliance with legal requirements.

Frequently asked questions

What is the current guideline value of Sri Saraswathi Avenue?

The current guideline value of Sri Saraswathi Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 2,500 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, reflecting a 10% rise. There was no change from 2017 to 2023, and the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

What is the classification of land on Sri Saraswathi Avenue?

Sri Saraswathi Avenue is classified as Commercial Special Type - IV, indicating its designated use within the local planning framework.

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

The registration office for Sri Saraswathi Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Sri Saraswathi Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For instance, a property valued at Rs 27,50,000 would incur a stamp duty of Rs 1,92,500 at a rate of 7%.