Guideline Value for SRINIVASAN AVENUE

Srinivasan Avenue guideline value

The current guideline value of Srinivasan Avenue in Melamaiyur village is Rs 1,650 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint I SRO and is classified as Mixed Special Type - I.

How the guideline value of Srinivasan Avenue has changed

The guideline value for Srinivasan Avenue has undergone several revisions over the years. The 2017 revision set the value at Rs 1,005 per sq.ft. This increased significantly to Rs 1,500 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision further increased the guideline value to Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has risen by 64%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Melamaiyur

In Melamaiyur, there are 37 streets under the Chengleput Joint I SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 1,212 per sq.ft, placing Srinivasan Avenue's 2024 figure above this median.

• Sri Ram Nagar: Rs 825 per sq.ft (2024)
• Sri Guru Nagar: Rs 1,212 per sq.ft (2024)
• Sri Ganapathi Avenue: Rs 1,100 per sq.ft (2024)
• Soundar Nagar: Rs 1,100 per sq.ft (2024)
• Thirukazhukundram Road: Rs 1,650 per sq.ft (2024)
• Sathyakanthy Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the guideline value totals Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the 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 Srinivasan Avenue?

The Chengleput Joint I Sub Registrar Office covers Srinivasan Avenue, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Melamaiyur

The guideline value is a crucial factor when registering property transactions in Melamaiyur. It serves as a reference point for determining the stamp duty and registration fees applicable to the transaction.

When a property is bought or sold, the guideline value is used to calculate the necessary fees, ensuring that all transactions are in compliance with government regulations. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Srinivasan Avenue?

The current guideline value of Srinivasan Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,005 per sq.ft in 2017 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification for Srinivasan Avenue?

Srinivasan Avenue is classified as Mixed Special Type - I under the Chengleput Joint I SRO.

Where can I find the registration office for Srinivasan Avenue?

The registration office for Srinivasan Avenue is the Chengleput Joint I Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is stamp duty calculated for properties in Melamaiyur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at a rate of 7%.