Guideline Value for SRI VISHNU AVENUE

Sri Vishnu Avenue guideline value

The current guideline value of Sri Vishnu Avenue is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Mambakkam village under the Madurandakam SRO and is classified as Commercial Class I Type - I.

How the guideline value of Sri Vishnu Avenue has changed

The guideline value for Sri Vishnu Avenue has seen several revisions over the years. In 2012, the value was Rs 700 per sq.ft, which decreased to Rs 469 per sq.ft in 2017. Following this, the value increased significantly to Rs 700 per sq.ft in 2023, and further rose to Rs 770 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the values from 2012 to 2024, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Mambakkam

In Mambakkam, there are 26 streets under the Madurandakam SRO that have a 2024 guideline value ranging from Rs 330 to Rs 770 per sq.ft. The median value is Rs 330 per sq.ft, placing Sri Vishnu Avenue's 2024 figure above this median.

• Sri Sakthi Vinayagar Nagar: Rs 330 per sq.ft (2024)
• Sun City: Rs 770 per sq.ft (2024)
• Sri Sai Nagar: Rs 770 per sq.ft (2024)
• Vasantham Nagar: Rs 330 per sq.ft (2024)
• Selva Vinayagar Nagar: Rs 330 per sq.ft (2024)
• V.I.P. Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vishnu Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Vishnu Avenue?

The Sub Registrar Office that covers Sri Vishnu Avenue is the Madurandakam Sub Registrar Office, 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 Mambakkam

The guideline value is a critical factor when registering property transactions in Mambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on a standardized value rather than fluctuating market prices.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property, which is essential for legal and financial transactions. This ensures transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sri Vishnu Avenue?

The current guideline value of Sri Vishnu Avenue is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then increased to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of Sri Vishnu Avenue?

Sri Vishnu Avenue is classified as Commercial Class I Type - I according to the local land classification regulations.

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

For a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which Sub Registrar Office covers Sri Vishnu Avenue?

The Madurandakam Sub Registrar Office covers Sri Vishnu Avenue, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.