Guideline Value for SRI SASTHA AVENUE

Sri Sastha Avenue guideline value

The current guideline value of Sri Sastha Avenue is Rs 2,400 per sq.ft, effective from 1 July 2024. This street is located in Vengaivasal village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Sri Sastha Avenue has changed

The guideline value for Sri Sastha Avenue has seen several revisions over the years. In 2012, the guideline value was Rs 2,200 per sq.ft, which then decreased to Rs 1,474 per sq.ft in 2017. Following this, the value increased significantly to Rs 2,200 per sq.ft in 2023, and further rose to Rs 2,400 per sq.ft in the 2024 revision. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 shows a 9% increase in the guideline value.

Guideline values in Vengaivasal

In Vengaivasal village, there are 117 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 4,800 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, positioning Sri Sastha Avenue's 2024 figure below this median.

• Sri Sastha Nagar: Rs 2,400 per sq.ft (2024)
• Sri Sasthapathi Duraisamy Nagar: Rs 2,950 per sq.ft (2024)
• Sri Visalakshi Nagar: Rs 3,300 per sq.ft (2024)
• Sri Visalakshi Street: Rs 2,200 per sq.ft (2024)
• Sri Visalatchi Nagar East: Rs 3,200 per sq.ft (2024)
• Sri Raman Nagar: Rs 3,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sastha Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, together amounting to Rs 2,16,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sastha Avenue?

The Sub Registrar Office that covers Sri Sastha 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 more information.

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

The guideline value is a crucial reference for property transactions in Vengaivasal. It helps determine the minimum value at which a property can be registered, ensuring that the transaction is in line with the government's valuation standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Both buyers and sellers should be aware of these values to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Sri Sastha Avenue?

The current guideline value of Sri Sastha Avenue is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,200 per sq.ft in 2012 to Rs 1,474 per sq.ft in 2017, then increased to Rs 2,200 per sq.ft in 2023, and finally to Rs 2,400 per sq.ft in 2024.

What is the land classification for Sri Sastha Avenue?

Sri Sastha Avenue is classified as Residential Special Type - I.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,400 per sq.ft, the stamp duty would be Rs 1,68,000.