Guideline Value for SRINIVASA AVENUE

Srinivasa Avenue guideline value

The current guideline value of Srinivasa Avenue is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Athur A Block village under the Chengleput Joint II SRO, classified as Residential Special Type - II.

How the guideline value of Srinivasa Avenue has changed

The guideline value for Srinivasa Avenue has undergone several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 150 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, marking a 233% rise. However, from 2012 to 2017, the value decreased to Rs 335 per sq.ft, a decline of 33%. The guideline value then rose again to Rs 500 per sq.ft in 2023, maintaining the same rate in the 2024 revision, resulting in a 49% increase from 2017 to 2023.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Athur A Block

Athur A Block contains 44 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 300 to Rs 1,525 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing Srinivasa Avenue's 2024 figure below this median.

• Sri Nagar: Rs 400 per sq.ft (2024)
• Sri Malli Nathar Nagar: Rs 600 per sq.ft (2024)
• Sri Ragavandira Nagar: Rs 600 per sq.ft (2024)
• Sri Ram Nagar: Rs 800 per sq.ft (2024)
• Sri Ranga Nagar: Rs 1,525 per sq.ft (2024)
• Sri Balaji Nagar: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, resulting in a total of Rs 45,000. It is important to note that stamp duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Avenue?

The Sub Registrar Office that covers Srinivasa Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Athur A Block

The guideline value plays a crucial role in the registration process when buying or selling property in Athur A Block. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the taxes owed, ensuring that the transaction is recorded accurately in accordance with the prevailing regulations. Buyers and sellers should be aware of these values to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Srinivasa Avenue?

The current guideline value of Srinivasa Avenue is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 500 per sq.ft in 2024, with fluctuations in between, including a decrease to Rs 335 per sq.ft in 2017.

What is the land classification for Srinivasa Avenue?

Srinivasa Avenue is classified as Residential Special Type - II, which reflects its intended use for residential purposes.

What are the stamp duty and registration fees for a property in Srinivasa Avenue?

For a property valued at Rs 5,00,000, the stamp duty would be Rs 35,000, and the registration fee would be Rs 10,000, totaling Rs 45,000.

Which Sub Registrar Office covers the registration for Srinivasa Avenue?

The Chengleput Joint II Sub Registrar Office covers the registration for Srinivasa Avenue, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.