Guideline Value for SRIVARI AVENUE

Srivari Avenue guideline value

The current guideline value of Srivari Avenue in Perumpakkam village, under the Tiruvallur Joint 1 SRO, is Rs 680 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - II.

How the guideline value of Srivari Avenue has changed

The guideline value for Srivari Avenue has seen significant changes over the years. The 2017 revision recorded a value of Rs 419 per sq.ft, which increased to Rs 626 per sq.ft in 2023, marking a 49% rise. The latest revision in 2024 set the value at Rs 680 per sq.ft, reflecting a 9% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 62%. This consistent rise highlights the changing landscape of property values in the area.

Guideline values in Perumpakkam

In Perumpakkam, there are 17 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value ranging from Rs 680 to Rs 1,650 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Srivari Avenue's 2024 figure below that median.

• Srivari Nagar: Rs 1,650 per sq.ft (2024)
• Sri Karparga Vinayagar Nagar: Rs 680 per sq.ft (2024)
• T.N.R. Nagar: Rs 680 per sq.ft (2024)
• Saraswathi Nagar: Rs 770 per sq.ft (2024)
• Sambandham Garden: Rs 1,099 per sq.ft (2024)
• Veera Raghuavar Nagar: Rs 1,099 per sq.ft (2024)

Stamp duty and registration fee for property in Srivari Avenue

For a 1,000 sq.ft plot at the current rate of Rs 680 per sq.ft, the guideline value amounts to Rs 6,80,000. The stamp duty at 7% would be Rs 47,600, and the registration fee at 2% would be Rs 13,600, totaling Rs 61,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srivari Avenue?

The Sub Registrar Office covering Srivari Avenue is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perumpakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

It is important for buyers and sellers to be aware of the guideline value, as it directly impacts the overall cost of property transactions. This value is regularly updated to reflect changes in the real estate market and local development.

Frequently asked questions

What is the current guideline value of Srivari Avenue?

The current guideline value of Srivari Avenue is Rs 680 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

Since the 2017 revision, the guideline value has increased by 62% to the current figure of Rs 680 per sq.ft in 2024. The value rose from Rs 419 per sq.ft in 2017 to Rs 626 per sq.ft in 2023, and then to Rs 680 per sq.ft in 2024.

What is the median guideline value for streets in Perumpakkam?

The median guideline value for streets in Perumpakkam is Rs 770 per sq.ft. Srivari Avenue's current value of Rs 680 per sq.ft is below this median.

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

For a property valued at Rs 6,80,000, the stamp duty would be Rs 47,600 and the registration fee would be Rs 13,600, totaling Rs 61,200. These fees are based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Srivari Avenue located?

The Sub Registrar Office for Srivari Avenue is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.