Guideline Value for SRI VENKATESAN AVENUE

Sri Venkatesan Avenue guideline value

The current guideline value of Sri Venkatesan Avenue is Rs 4,000 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village, under the Selaiyur SRO, and is classified as Mixed Special Type - I.

How the guideline value of Sri Venkatesan Avenue has changed

The guideline value for Sri Venkatesan Avenue has seen several revisions over the years. The register does not have figures for the years 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was Rs 3,735 per sq.ft, and this increased to Rs 4,000 per sq.ft in the 2024 revision, marking a change of +7%.

Prior to the 2023 revision, there were no recorded figures for the street in the earlier years mentioned. The most recent increase reflects the current valuation set for 2024.

Guideline values in Madambakkam

In Madambakkam, there are 1,151 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, placing Sri Venkatesan Avenue's 2024 figure above that median.

• Sri Sheshadri Nagar: Rs 1,600 per sq.ft (2024)
• Sri Sairam Nagar Extn: Rs 4,000 per sq.ft (2024)
• Sri Sai Ram Nagar: Rs 2,650 per sq.ft (2024)
• Sudarsan Nagar: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 10th Street: Rs 3,300 per sq.ft (2024)
• Sudarsan Nagar 11th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkatesan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,000 per sq.ft, the total guideline value amounts to Rs 40,00,000. The stamp duty at 7% would be Rs 2,80,000, and the registration fee at 2% would be Rs 80,000, bringing the total to Rs 3,60,000. 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 Venkatesan Avenue?

The Sub Registrar Office that covers Sri Venkatesan 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 Madambakkam

The guideline value is a crucial factor in the registration process for property transactions in Madambakkam. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this valuation.

When buying or selling property, it is essential to consider the guideline value, as it influences the overall cost of the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can significantly affect their financial planning.

Frequently asked questions

What is the current guideline value of Sri Venkatesan Avenue?

The current guideline value of Sri Venkatesan Avenue is Rs 4,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Sri Venkatesan Avenue has changed from Rs 3,735 per sq.ft in 2023 to Rs 4,000 per sq.ft in 2024, marking a +7% increase. There are no figures recorded for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value in Madambakkam?

The median guideline value in Madambakkam is Rs 2,400 per sq.ft. Sri Venkatesan Avenue's guideline value is above this median, reflecting its valuation in the area.

What are the stamp duty and registration fees for property in Sri Venkatesan Avenue?

The stamp duty is 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot at Rs 4,000 per sq.ft, the total guideline value is Rs 40,00,000, resulting in a stamp duty of Rs 2,80,000 and a registration fee of Rs 80,000.

Where is the Sub Registrar Office for Sri Venkatesan Avenue located?

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