Guideline Value for SRI VENKATESHWARA AVENUE

Sri Venkateshwara Avenue guideline value

The current guideline value of Sri Venkateshwara Avenue is Rs 440 per sq.ft, effective from 1 July 2024. This street is located in Minjur village under the Ponneri SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Venkateshwara Avenue has changed

The guideline value for Sri Venkateshwara Avenue has seen several revisions over the years. The 2017 revision set the value at Rs 268 per sq.ft, which increased to Rs 400 per sq.ft in the 2023 revision. The latest revision in 2024 has raised the value further to Rs 440 per sq.ft, marking a change of +10% from the previous year. Overall, from 2017 to 2024, the guideline value has increased by +64%.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The significant increase from 2017 to 2023 was +49%, reflecting a notable change in the guideline value during that period.

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that have a 2024 guideline value ranging from Rs 440 to Rs 1,320 per sq.ft, with a median value of Rs 550 per sq.ft. Sri Venkateshwara Avenue's 2024 figure is below this median.

• Sri Thiruvudaiamman Nagar: Rs 550 per sq.ft (2024)
• Surakkai Swami Street: Rs 550 per sq.ft (2024)
• Srinivasa Nagar: Rs 550 per sq.ft (2024)
• Surya Nagar: Rs 440 per sq.ft (2024)
• Surya Nagar Extension: Rs 440 per sq.ft (2024)
• Sri Murali Nagar: Rs 880 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 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, bringing the total charges to Rs 39,600. It is essential to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Venkateshwara Avenue?

Sri Venkateshwara Avenue falls under the Ponneri Sub Registrar Office located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Minjur. It serves as a benchmark for determining the minimum value of a property, which is essential for calculating stamp duty and registration fees at the time of sale or purchase.

When you buy or sell property in Minjur, the guideline value ensures that the transaction reflects a fair valuation, helping to maintain transparency in the real estate market. It is advisable to check the latest guideline values to understand the financial implications of your property transactions.

Frequently asked questions

What is the current guideline value of Sri Venkateshwara Avenue?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 268 per sq.ft in 2017 to Rs 440 per sq.ft in 2024, marking an overall increase of +64%.

What are the stamp duty rates applicable for properties in Sri Venkateshwara Avenue?

The stamp duty for properties in Sri Venkateshwara Avenue is charged at a rate of 7% on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers the registration for Sri Venkateshwara Avenue?

The Ponneri Sub Registrar Office covers the registration for Sri Venkateshwara Avenue, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification for Sri Venkateshwara Avenue?

Sri Venkateshwara Avenue is classified as Residential Class III Type - I, indicating its designation for residential purposes.