Guideline Value for SRI VENKATESHWARA AVENUE

Sri Venkateshwara Avenue guideline value

The current guideline value of Sri Venkateshwara Avenue in Lakshminarayanapuram village is Rs 175 per sq.ft, effective from 1 July 2024. This street falls under the Madurandakam Sub Registrar Office (SRO) and is classified as Mixed Type - III land.

How the guideline value of Sri Venkateshwara Avenue has changed

The guideline value of Sri Venkateshwara Avenue has seen several revisions over the years. The most recent revision is from 2024, where the guideline value remains at Rs 175 per sq.ft, unchanged from the 2023 revision. In 2017, the guideline value was Rs 117 per sq.ft, indicating a 50% increase to Rs 175 per sq.ft by 2023. The 2012 revision also recorded Rs 175 per sq.ft, showing a decrease of 33% from the 2012 to the 2017 revision. Overall, from 2012 to 2024, the guideline value remains unchanged at Rs 175 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the changes in guideline values are only noted for the years 2012, 2017, 2023, and 2024.

Guideline values in Lakshminarayanapuram

In addition to Sri Venkateshwara Avenue, other streets in Lakshminarayanapuram also have their own guideline values. Currently, the guideline value for Aiswaryam Nagar is Rs 150 per sq.ft as of 2024.

• Aiswaryam Nagar: Rs 150 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Venkateshwara Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 175 per sq.ft, the total guideline value amounts to Rs 1,75,000. The stamp duty at 7% would be Rs 12,250, and the registration fee at 2% would be Rs 3,500, bringing the total to Rs 15,750. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations based on your property details.

Which Sub Registrar Office covers Sri Venkateshwara Avenue?

The Madurandakam Sub Registrar Office covers Sri Venkateshwara Avenue. The office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Lakshminarayanapuram. It is used to determine the stamp duty and registration fees payable when buying or selling property, ensuring that these costs are calculated based on the official value set by the government.

When a property is sold, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Avenue?

The current guideline value of Sri Venkateshwara Avenue is Rs 175 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 175 per sq.ft from 2012 to 2024, with a 50% increase from Rs 117 per sq.ft in 2017 to Rs 175 per sq.ft in 2023.

What is the registration office for Sri Venkateshwara Avenue?

The registration office for Sri Venkateshwara Avenue is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property with a guideline value of Rs 1,75,000 would incur a stamp duty of Rs 12,250 at the current rate of 7%.

Are there other streets in Lakshminarayanapuram with different guideline values?

Yes, other streets in Lakshminarayanapuram have their own guideline values. For instance, Aiswaryam Nagar has a guideline value of Rs 150 per sq.ft as of 2024.