Guideline Value for Sai Avenue

Sai Avenue guideline value

The current guideline value of Sai Avenue in Madambakkam village, under the Gooduvancheri SRO, is Rs 1,201 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sai Avenue has changed

Over the years, the guideline value of Sai Avenue has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the 2024 revision. The 2017 revision marked a significant increase to Rs 804 per sq.ft, reflecting a 49% rise from the previous 2012 figure. However, the 2023 revision saw a minimal change, adjusting the value to Rs 1,200 per sq.ft, which was a 0% change from the prior year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street. The overall change from the 2012 revision to the 2024 revision is 0%, indicating stability in the guideline value over this period.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft, with a median value of Rs 1,200 per sq.ft. Sai Avenue's current guideline value is above this median, indicating a competitive position within the village.

• Sadasiva Nagar Extn-I,II: Rs 1,200 per sq.ft (2024)
• Sadasiva Nagar: Rs 1,200 per sq.ft (2024)
• Sakthi Avenue: Rs 1,200 per sq.ft (2024)
• Santhosh Nagar: Rs 1,200 per sq.ft (2024)
• Saraswathi Garden: Rs 1,200 per sq.ft (2024)
• Ram Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,201 per sq.ft, the total guideline value amounts to Rs 12,01,000. The stamp duty at 7% would be Rs 84,070, and the registration fee at 2% would be Rs 24,020, bringing the total charges to Rs 1,08,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sai Avenue?

The Sai Avenue area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value based on current market conditions.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions, based on the established guideline values in the area.

Frequently asked questions

What is the current guideline value of Sai Avenue?

The current guideline value of Sai Avenue is Rs 1,201 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with the 2012 revision at Rs 1,200 per sq.ft, a drop to Rs 804 per sq.ft in 2017, and a return to Rs 1,200 per sq.ft in 2023, before reaching Rs 1,201 per sq.ft in 2024.

What is the land classification for Sai Avenue?

The land classification for Sai Avenue is Residential Special Type - II, indicating its designated use for residential purposes.

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

For a property valued at Rs 12,01,000, the stamp duty would be Rs 84,070 and the registration fee would be Rs 24,020, totaling Rs 1,08,090.

Which Sub Registrar Office covers the Sai Avenue area?

The Gooduvancheri Sub Registrar Office covers the Sai Avenue area, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.