Guideline Value for SRM AVENUE PHASE-II

Srm Avenue Phase-II guideline value

The current guideline value of Srm Avenue Phase-II is Rs 1,120 per sq.ft, effective from 1 July 2024. This property is located in Nenmeli village and falls under the Chengleput Joint I SRO. The land classification for this area is Mixed Special Type - II.

How the guideline value of Srm Avenue Phase-II has changed

Looking at the revisions, the guideline value for Srm Avenue Phase-II was Rs 750 per sq.ft in 2017. It remained unchanged at Rs 1,120 per sq.ft in the 2023 revision and continues at the same rate in the 2024 revision, indicating a 49% increase from 2017 to 2023. The revisions for the years 2002, 2003, 2007, and 2012 have no figures listed for this street.

From 2023 to 2024, there has been no change, with the guideline value remaining at Rs 1,120 per sq.ft. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Nenmeli

In Nenmeli, there are 53 streets under the Chengleput Joint I SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft. The median guideline value in this area is Rs 612 per sq.ft, placing Srm Avenue Phase-II above this median.

• Srm Avenue Phase-I: Rs 1,120 per sq.ft (2024)
• Srm City: Rs 600 per sq.ft (2024)
• SRM Garden Phase - I: Rs 612 per sq.ft (2024)
• SRM Garden Phase II: Rs 612 per sq.ft (2024)
• S.S.Garden Phase-I: Rs 1,045 per sq.ft (2024)
• Teachers Colony: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in Srm Avenue Phase-II

For a 1,000 sq.ft plot at the current rate of Rs 1,120 per sq.ft, the guideline value amounts to Rs 11,20,000. The stamp duty at 7% would be Rs 78,400, and the registration fee at 2% would be Rs 22,400, totaling Rs 1,00,800. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srm Avenue Phase-II?

The Srm Avenue Phase-II is covered by the Chengleput Joint I Sub Registrar Office 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 Nenmeli

The guideline value is a crucial factor when registering property in Nenmeli. It determines the minimum value at which a property can be sold or bought, ensuring that the registration reflects a fair value as per government standards.

When you proceed with a property transaction, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations involved in the property transfer process.

Frequently asked questions

What is the current guideline value of Srm Avenue Phase-II?

The current guideline value of Srm Avenue Phase-II is Rs 1,120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 750 per sq.ft in 2017 to Rs 1,120 per sq.ft in 2023 and 2024, marking a 49% increase overall from 2017 to 2024.

What is the median guideline value in Nenmeli?

The median guideline value in Nenmeli is Rs 612 per sq.ft, with Srm Avenue Phase-II being above this median at Rs 1,120 per sq.ft.

What are the stamp duty and registration fees for Srm Avenue Phase-II?

For a 1,000 sq.ft plot, the total stamp duty and registration fees would be Rs 1,00,800 based on the current guideline value of Rs 11,20,000.

Which office handles the registration for Srm Avenue Phase-II?

The Chengleput Joint I Sub Registrar Office handles the registration for Srm Avenue Phase-II, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.