Guideline Value for Sangamithra Avenue

Sangamithra Avenue guideline value

The current guideline value of Sangamithra Avenue in Srinivasapuram village, under the Kunrathur SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

How the guideline value of Sangamithra Avenue has changed

Over the years, the guideline value of Sangamithra Avenue has seen significant changes. The register shows that in 2003, the guideline value was Rs 70 per sq.ft. It increased to Rs 400 per sq.ft in 2007, marking a substantial rise of 471%. In 2012, the value rose to Rs 1,800 per sq.ft, reflecting a growth of 350%. However, it then decreased to Rs 1,206 per sq.ft in 2017, a decline of 33%. The next revision in 2023 saw the value increase to Rs 1,800 per sq.ft, followed by a jump to Rs 2,000 per sq.ft in 2024, which is an increase of 11%.

Overall, from 2003 to 2024, the guideline value has increased by 2757%. It is important to note that the register has no figure for the year 2002 for this street.

Guideline values in Srinivasapuram

In Srinivasapuram, there are 39 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,550 to Rs 7,400 per sq.ft, with a median value of Rs 1,650 per sq.ft. The guideline value of Sangamithra Avenue is above this median.

• Sai Rai Nagar: Rs 1,550 per sq.ft (2024)
• R.R.Nagar Annexe: Rs 1,550 per sq.ft (2024)
• Seven Hills Nagar: Rs 2,000 per sq.ft (2024)
• Ramachandra Nagar: Rs 1,750 per sq.ft (2024)
• Rajarathinam Nagar / Annexe: Rs 2,000 per sq.ft (2024)
• Sri Balaji Nagar: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Sangamithra Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty is charged at 7%, resulting in Rs 1,40,000, while the registration fee at 2% is Rs 40,000. Together, the total cost for these fees would be Rs 1,80,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

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

Which Sub Registrar Office covers Sangamithra Avenue?

The Sub Registrar Office that covers Sangamithra Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Srinivasapuram. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on this value or the sale price, whichever is higher.

When a property transaction occurs, the guideline value ensures that the government receives the appropriate revenue from stamp duties. Buyers and sellers must be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Sangamithra Avenue?

The current guideline value of Sangamithra Avenue is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 70 per sq.ft in 2003 to Rs 2,000 per sq.ft in 2024, showing an overall increase of 2757% over the years.

What are the other streets in Srinivasapuram with guideline values?

Other streets in Srinivasapuram under the Kunrathur SRO include Sai Rai Nagar and R.R.Nagar Annexe at Rs 1,550 per sq.ft, and several others at varying rates up to Rs 7,400 per sq.ft.

What is the stamp duty rate for property transactions?

The stamp duty rate for property transactions in Tamil Nadu is typically 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Sangamithra Avenue located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, and it handles all registrations for properties in Sangamithra Avenue.