Guideline Value for SRI SARAVANA AVENUE

Sri Saravana Avenue guideline value

The current guideline value of Sri Saravana Avenue is Rs 330 per sq.ft, effective from 1 July 2024. This street is located in Nanthiambakkam village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - II.

How the guideline value of Sri Saravana Avenue has changed

The guideline value for Sri Saravana Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which was then reduced to Rs 201 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 300 per sq.ft in 2023, and then to Rs 330 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change in guideline value is an increase of 10%. The changes between revisions include a 49% increase from 2017 to 2023 and a decrease of 33% from 2012 to 2017. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in Nanthiambakkam

In Nanthiambakkam, there are 85 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 275 to Rs 770 per sq.ft. The median value for these streets is Rs 330 per sq.ft, which is equal to the guideline value of Sri Saravana Avenue.

• Sri Sairam Nagar: Rs 330 per sq.ft (2024)
• Sri Rudhra Nagar: Rs 330 per sq.ft (2024)
• Sri Venkatapuram: Rs 330 per sq.ft (2024)
• Sri Padmavathi Devi Nagar: Rs 330 per sq.ft (2024)
• Subramani Avenue: Rs 330 per sq.ft (2024)
• Sri Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Saravana Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value amounts to Rs 3,30,000. The stamp duty at 7% would be Rs 23,100, and the registration fee at 2% would be Rs 6,600, making the total fees together Rs 29,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Saravana Avenue?

The Sub Registrar Office that covers Sri Saravana Avenue is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property in Nanthiambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When you register a property, the guideline value is compared with the sale price, and the duty is charged on the higher of the two values. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Saravana Avenue?

The current guideline value of Sri Saravana Avenue is Rs 330 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions: Rs 300 per sq.ft in 2012, Rs 201 per sq.ft in 2017, Rs 300 per sq.ft in 2023, and Rs 330 per sq.ft in 2024.

What is the land classification of Sri Saravana Avenue?

Sri Saravana Avenue is classified as Residential Special Type - II under the current guidelines.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

How is stamp duty calculated for properties in Sri Saravana Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 at 7%.