Guideline Value for SRI VARI GARDEN

Sri Vari Garden guideline value

The current guideline value of Sri Vari Garden, located in Korattur-A village under the Avadi SRO, is Rs 440 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Special Type - II land classification.

How the guideline value of Sri Vari Garden has changed

In the 2023 revision, the guideline value for Sri Vari Garden was Rs 400 per sq.ft. The latest revision in 2024 has increased this value to Rs 440 per sq.ft, marking a change of +10%. There are no figures available for the revisions in the years 2017, 2012, 2007, 2003, and 2002 for this street.

Thus, the only recorded changes in guideline value for Sri Vari Garden have occurred between the 2023 and 2024 revisions. The 2024 figure of Rs 440 per sq.ft is below the median guideline value of Rs 1,025 per sq.ft for the 10 streets in Korattur-A under the Avadi SRO.

Guideline values in Korattur-A

In Korattur-A, the guideline values for various streets range from Rs 220 to Rs 2,050 per sq.ft as per the 2024 revision. The median value for these streets is Rs 1,025 per sq.ft, and Sri Vari Garden's guideline value is below this median.

• Srivari Nagar: Rs 220 per sq.ft (2024)
• Sri Vari Nagar Phase I: Rs 440 per sq.ft (2024)
• Vijay Raja Homes Pvt Ltd: Rs 550 per sq.ft (2024)
• K.S.S.Sun City: Rs 440 per sq.ft (2024)
• Amber County By Urban Tree: Rs 1,500 per sq.ft (2024)
• Avni - 1/2b, 5/2, 9/1a, 9/1b, 9/2a, 9/2b, 10/1a: Rs 2,050 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vari Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value would be Rs 4,40,000. The stamp duty at 7% would amount to Rs 30,800, and the registration fee at 2% would be Rs 8,800, making the total cost Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Sri Vari Garden?

Sri Vari Garden falls under the jurisdiction of the Avadi Sub Registrar Office. The office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Korattur-A. It serves as a benchmark for determining the minimum value of the property for registration purposes, ensuring that the transaction is recorded at a fair value.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Vari Garden?

The current guideline value of Sri Vari Garden is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Vari Garden was Rs 400 per sq.ft in 2023 and increased to Rs 440 per sq.ft in 2024. There are no recorded figures for the revisions in 2017, 2012, 2007, 2003, and 2002 for this street.

What are the guideline values for other streets in Korattur-A?

The guideline values for other streets in Korattur-A range from Rs 220 to Rs 2,050 per sq.ft. The median value for these streets is Rs 1,025 per sq.ft.

How is stamp duty calculated for properties in Sri Vari Garden?

Stamp duty for properties in Sri Vari Garden is calculated at 7% of the guideline value or the sale price, whichever is higher. For a plot of 1,000 sq.ft, the stamp duty would be Rs 30,800 based on the current guideline value.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.