Guideline Value for SRI SRINIVASA AVENUE PART-I

Sri Srinivasa Avenue Part-I guideline value

The current guideline value of Sri Srinivasa Avenue Part-I is Rs 400 per sq.ft, effective from 1 July 2024. This street is located in Palur-A village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Sri Srinivasa Avenue Part-I has changed

Since the 2002 revision, the guideline value register does not have figures for the years 2003, 2007, and 2012. The 2017 revision set the guideline value at Rs 268 per sq.ft, which was a significant increase from the previous revisions. The value remained unchanged at Rs 400 per sq.ft during the 2023 revision and continues at this rate in the 2024 revision, showing no change of +0% from 2023 to 2024.

From 2017 to 2023, the guideline value increased by 49%, bringing it to Rs 400 per sq.ft in 2023. Overall, from 2017 to 2024, the increase is also 49%, reflecting a consistent valuation for the last two revisions.

Guideline values in Palur-A

In Palur-A, there are 44 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 600 per sq.ft. The median value for these streets is Rs 400 per sq.ft, which matches the current guideline value of Sri Srinivasa Avenue Part-I.

• Sri Srinivasa Avenue Part-II: Rs 400 per sq.ft (2024)
• Sri Sheshatari Garden Extn-I: Rs 501 per sq.ft (2024)
• Sri Sheshatari Garden: Rs 400 per sq.ft (2024)
• Sri Seshadri Garden Pasupathi Nagar: Rs 400 per sq.ft (2024)
• Sri Seshadri Garden Guna Nagar: Rs 400 per sq.ft (2024)
• Sri Sai Ram Nagar: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Srinivasa Avenue Part-I

For a 1,000 sq.ft plot at the current rate of Rs 400 per sq.ft, the guideline value amounts to Rs 4,00,000. The stamp duty at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Srinivasa Avenue Part-I?

The Sub Registrar Office that covers Sri Srinivasa Avenue Part-I is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Palur-A

The guideline value is a crucial factor in the registration process of property transactions in Palur-A. It determines the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers. It helps in assessing the value of the property and plays a significant role in the financial aspects of the transaction.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Avenue Part-I?

The current guideline value of Sri Srinivasa Avenue Part-I is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 400 per sq.ft since the 2023 revision. It increased from Rs 268 per sq.ft in 2017 to Rs 400 per sq.ft in 2023, marking a 49% increase over this period.

What is the land classification for Sri Srinivasa Avenue Part-I?

The land classification for Sri Srinivasa Avenue Part-I is Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty rates for properties in this area?

The stamp duty for properties in Sri Srinivasa Avenue Part-I is charged at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the same value.

Which office handles property registrations in this area?

The Chengleput Joint II Sub Registrar Office is responsible for property registrations in Sri Srinivasa Avenue Part-I, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.