Guideline Value for SRI SRINIVASA AVENUE

Sri Srinivasa Avenue guideline value

The current guideline value of Sri Srinivasa Avenue in Srinivasapuram village, under the Kunrathur SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - II.

How the guideline value of Sri Srinivasa Avenue has changed

Over the years, the guideline value for Sri Srinivasa Avenue has experienced several revisions. The 2012 revision set the value at Rs 2,200 per sq.ft, which decreased to Rs 1,474 per sq.ft in 2017. This marked a significant drop of 33%. Following this, the value saw a modest increase to Rs 1,500 per sq.ft in 2023, and then rose again to Rs 1,650 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has decreased by 25%.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,550 to Rs 7,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which matches the current guideline value of Sri Srinivasa Avenue.

• Sri Sangeetham Nagar: Rs 1,550 per sq.ft (2024)
• Srivasapuram Main Road: Rs 1,750 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 2,000 per sq.ft (2024)
• Sri Sai Nagar: Rs 3,600 per sq.ft (2024)
• Sri Ram Nagar: Rs 1,550 per sq.ft (2024)
• Srinivasa Nagar Annexe: Rs 2,000 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 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Srinivasa Avenue?

The Sub Registrar Office that covers Sri Srinivasa Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Srinivasapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented accurately.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This helps in maintaining transparency in property transactions and ensures that the government receives the appropriate revenue from property sales.

Frequently asked questions

What is the current guideline value of Sri Srinivasa Avenue?

The current guideline value of Sri Srinivasa Avenue is Rs 1,650 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 1,650 per sq.ft in 2024, with various revisions in between, including Rs 1,474 in 2017 and Rs 1,500 in 2023.

What are the other streets in Srinivasapuram and their guideline values?

Other streets in Srinivasapuram include Sri Sangeetham Nagar at Rs 1,550 per sq.ft, Srivasapuram Main Road at Rs 1,750 per sq.ft, and Sri Venkateswara Nagar at Rs 2,000 per sq.ft, among others.

What fees are associated with buying property in Sri Srinivasa Avenue?

When buying property, buyers should consider the stamp duty, which is 7% of the guideline value, and the registration fee, which is 2%. For example, on a property valued at Rs 16,50,000, the total fees would amount to Rs 1,48,500.

Where can I find the Sub Registrar Office for Sri Srinivasa Avenue?

The Sub Registrar Office covering Sri Srinivasa Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.