Guideline Value for Sairam Avenue

Sairam Avenue guideline value

The current guideline value of Sairam Avenue, located in Valasaravakkam village under the Virugambakkam SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of Sairam Avenue has changed

The guideline value of Sairam Avenue has seen significant changes over the years. In 2002, the value was Rs 429 per sq.ft. This increased to Rs 467 per sq.ft in 2003, marking a 9% rise. The value then went up to Rs 500 per sq.ft in 2007, which is a 7% increase. Following this, the value surged to Rs 3,000 per sq.ft in 2012, reflecting a substantial increase of 500%. However, it fell to Rs 2,010 per sq.ft in 2017, indicating a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, and most recently, it has increased to Rs 3,300 per sq.ft in 2024, representing a 10% increase.

Overall, from 2002 to 2024, the guideline value has increased by 669%. The register has no figures for the years not mentioned in the revisions, ensuring that all changes are documented accurately.

Guideline values in Valasaravakkam

In Valasaravakkam, there are 774 streets under the Virugambakkam SRO that carry a 2024 guideline value 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, making Sairam Avenue's 2024 figure of Rs 3,300 per sq.ft below that median.

• Sairam Avenue 1st Street: Rs 3,300 per sq.ft (2024)
• Sairam Avenue 2nd Street: Rs 3,300 per sq.ft (2024)
• Sairam Avenue 3rd Street: 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

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. Therefore, the total cost for stamp duty and registration would be Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sairam Avenue?

The Sairam Avenue area 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 is a crucial factor when buying or selling property in Valasaravakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This ensures that the transaction is recorded at a value that reflects the prevailing market conditions as set by the authorities.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers must be aware that these costs are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sairam Avenue?

The current guideline value of Sairam Avenue 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 significantly, increasing from Rs 429 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 669% over the years.

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

For a property with a guideline value of Rs 3,300 per sq.ft, the stamp duty is calculated at 7%, and the registration fee at 2%, totaling Rs 2,97,000 for a 1,000 sq.ft plot.

Which Sub Registrar Office covers Sairam Avenue?

The Virugambakkam Sub Registrar Office covers Sairam Avenue, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of Sairam Avenue?

Sairam Avenue is classified as Residential Class II Type - II, indicating its designation for residential use within the locality.