Guideline Value for SRM AVENUE PHASE-I

Srm Avenue Phase-I guideline value

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

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

In the 2017 revision, the guideline value for Srm Avenue Phase-I was set at Rs 750 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,120 per sq.ft. The most recent revision in 2024 confirmed the same guideline value of Rs 1,120 per sq.ft, indicating no change from the previous year. The register has no figures for this street in the years 2002, 2003, 2007, and 2012.

From 2017 to 2023, the guideline value saw an increase of 49%. Overall, from 2017 to 2024, the guideline value has also increased by 49%, maintaining its position at Rs 1,120 per sq.ft since 2023.

Guideline values in Nenmeli

Nenmeli village has a total of 53 streets under the Chengleput Joint I SRO, with guideline values ranging from Rs 400 to Rs 2,500 per sq.ft as per the 2024 revision. The median guideline value in the village is Rs 612 per sq.ft, placing Srm Avenue Phase-I's 2024 figure above this median.

• Srm Avenue Phase-II: 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-I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,120 per sq.ft, the total 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, bringing the total fees together to Rs 1,00,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Srm Avenue Phase-I?

The Srm Avenue Phase-I 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 in the registration process for property transactions in Nenmeli. It determines the minimum value at which the property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees based on this value.

When buying or selling property, the guideline value serves as a benchmark for both parties in the transaction. It is essential to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value for Srm Avenue Phase-I has remained at Rs 1,120 per sq.ft from 2023 to 2024. It increased by 49% from Rs 750 per sq.ft in 2017 to Rs 1,120 per sq.ft in 2023 and 2024.

What is the land classification of Srm Avenue Phase-I?

Srm Avenue Phase-I is classified as Mixed Special Type - II, indicating its usage and zoning regulations.

Where is the Chengleput Joint I Sub Registrar Office located?

The Chengleput Joint I Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Srm Avenue Phase-I?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 78,400.