Guideline Value for Sairam Avenue 3rd Street

Sairam Avenue 3rd Street guideline value

The current guideline value of Sairam Avenue 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Valasaravakkam village under the Virugambakkam SRO, and it falls under the Residential Class II Type - II land classification.

How the guideline value of Sairam Avenue 3rd Street has changed

Looking at the revisions over the years, the guideline value for Sairam Avenue 3rd Street was Rs 2,010 per sq.ft in 2017, which increased to Rs 3,000 per sq.ft in 2012. However, there are no figures available for the years 2002, 2003, and 2007. The 2012 revision saw a decrease of 33% from the previous value, while the value rose to Rs 3,000 per sq.ft in 2023, marking an increase of 49% from 2017.

In the latest revision for 2024, the guideline value is Rs 3,300 per sq.ft, reflecting a 10% increase from the 2023 figure. Overall, comparing the 2012 and 2024 figures, there has been a 10% increase, with the current value being higher than the 2012 figure but lower than the 2024 median value of Rs 3,850 per sq.ft for streets in Valasaravakkam.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,850 per sq.ft, placing Sairam Avenue 3rd Street below that median.

• Sairam Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Sairam Avenue 1st Street: Rs 3,300 per sq.ft (2024)
• Sairam Avenue: Rs 3,300 per sq.ft (2024)
• Sai Ram Nagar Annexe: Rs 3,850 per sq.ft (2024)
• Samandam Nagar: Rs 3,850 per sq.ft (2024)
• Samandam Nagar 1st Cross Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Sairam Avenue 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees together to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sairam Avenue 3rd Street?

The Sairam Avenue 3rd Street is covered by the Virugambakkam Sub Registrar Office located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware that the guideline value is often used to assess the property’s worth during the registration process.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This is essential for maintaining transparency and ensuring that government revenues from property transactions are not compromised.

Frequently asked questions

What is the current guideline value of Sairam Avenue 3rd Street?

The current guideline value of Sairam Avenue 3rd Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, with notable increases in 2023 and 2024 revisions.

What is the land classification of Sairam Avenue 3rd Street?

Sairam Avenue 3rd Street falls under the Residential Class II Type - II land classification, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Sairam Avenue 3rd Street?

The Sub Registrar Office covering Sairam Avenue 3rd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How is the stamp duty calculated for properties in Sairam Avenue 3rd Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000 at a rate of 7%.