Guideline Value for Sai Ram Avenue

Sai Ram Avenue guideline value

The current guideline value of Sai Ram Avenue, located in Madipakkam-1 village under the Velacheri SRO, is Rs 2,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Sai Ram Avenue has changed

The guideline value for Sai Ram Avenue has seen a significant increase over the years. In the 2017 revision, the value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in the 2023 revision, marking a 49% rise. The latest 2024 revision reflects a further increase to Rs 2,200 per sq.ft, which is a 10% increase from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. This reflects the changing landscape of property values in the area, highlighting the adjustments made in response to market conditions.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. Sai Ram Avenue's 2024 figure of Rs 2,200 per sq.ft is below this median.

• Sai Ram Avenue 1st Street: Rs 2,200 per sq.ft (2024)
• Sai Ram Avenue 2nd Street: Rs 2,200 per sq.ft (2024)
• Sai Ram Avenue, Brindavan Street: Rs 3,850 per sq.ft (2024)
• Sairam Avenue, Padmavathi Street, Balaiya Garder: Rs 3,850 per sq.ft (2024)
• Saint Thomas Arthodax Church Road: Rs 2,200 per sq.ft (2024)
• Sai Ram Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sai Ram Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sai Ram Avenue?

The Sub Registrar Office that covers Sai Ram Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in the registration process for property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of this value to ensure compliance with local regulations during the transaction.

When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Sai Ram Avenue?

The current guideline value of Sai Ram Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, marking an overall increase of 64%.

What are the other streets in Madipakkam-1 with the same guideline value?

Other streets in Madipakkam-1 with the same guideline value of Rs 2,200 per sq.ft include Sai Ram Avenue 1st Street, Sai Ram Avenue 2nd Street, Saint Thomas Arthodax Church Road, and Sai Ram Street.

What fees are associated with buying property in Sai Ram Avenue?

When buying property in Sai Ram Avenue, buyers should consider stamp duty at 7% and a registration fee at 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sai Ram Avenue?

The Sub Registrar Office for Sai Ram Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.