Guideline Value for SRI SRINIVASA AVENUE

Sri Srinivasa Avenue guideline value

The current guideline value of Sri Srinivasa Avenue in Kolathur village is Rs 600 per sq.ft, effective from 1 July 2024. This street falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Sri Srinivasa Avenue has changed

Over the years, the guideline value for Sri Srinivasa Avenue has seen several revisions. In 2007, the value was Rs 375 per sq.ft, which increased to Rs 600 per sq.ft in 2012. However, there was a decrease to Rs 402 per sq.ft in 2017. The guideline value remained the same at Rs 600 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024.

From 2017 to 2023, there was a significant increase of 49%. Overall, the guideline value has increased by 60% from 2007 to 2024, reflecting the changes in the valuation over the years. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

In Kolathur, there are 58 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 1,600 per sq.ft. The median value is Rs 600 per sq.ft, making the guideline value of Sri Srinivasa Avenue equal to this median.

• Srinivasa Palms @ S.P.Kovil -II: Rs 1,500 per sq.ft (2024)
• Srinivasa Palms @ S.P.Kovil: Rs 1,500 per sq.ft (2024)
• Sri Narsimman Nagar: Rs 600 per sq.ft (2024)
• Swami Nagar: Rs 600 per sq.ft (2024)
• Sri Ganapathy Nagar Colony: Rs 600 per sq.ft (2024)
• Sri Dhivakar Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Srinivasa Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000. The stamp duty at 7% would amount to Rs 42,000, and the registration fee at 2% would be Rs 12,000, bringing the total fees together to Rs 54,000. 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?

The Sub Registrar Office that covers Sri Srinivasa Avenue 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 Kolathur

The guideline value is a critical factor in the registration process when buying or selling property in Kolathur. It serves as the base value on which stamp duty and registration fees are calculated, ensuring that all transactions are reported at a fair value according to the government’s assessment.

When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value. This helps in maintaining transparency and accountability in real estate transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Avenue?

The current guideline value of Sri Srinivasa Avenue is Rs 600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent revision maintaining the value at Rs 600 per sq.ft since 2023. Notably, there was a 49% increase from 2017 to 2023.

What is the classification of land on Sri Srinivasa Avenue?

Sri Srinivasa Avenue is classified as Residential Special Type - I, indicating its intended use for residential purposes.

Where is the Chengleput Joint II SRO located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 600 per sq.ft would incur a total fee of Rs 54,000.