Guideline Value for Sarojini Avenue

Sarojini Avenue guideline value

The current guideline value of Sarojini Avenue in Madanandapuram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Kunrathur SRO and is classified as Mixed Special Type - I.

How the guideline value of Sarojini Avenue has changed

In the 2017 revision, the guideline value for Sarojini Avenue was Rs 3,015 per sq.ft. This figure remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 3,300 per sq.ft, reflecting a 9% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madanandapuram

Madanandapuram has 94 streets under the Kunrathur SRO, with guideline values ranging from Rs 2,530 to Rs 5,830 per sq.ft in 2024. The median guideline value in this village is Rs 3,520 per sq.ft, placing Sarojini Avenue's 2024 figure below that median.

• Santhosh Nagar Extension 2nd cross Street: Rs 4,290 per sq.ft (2024)
• Senthil Nagar: Rs 3,190 per sq.ft (2024)
• Shanmuga Nagar: Rs 3,190 per sq.ft (2024)
• Ranjini Nagar: Rs 3,190 per sq.ft (2024)
• Ramya Nagar Extension II: Rs 3,960 per sq.ft (2024)
• Ramya Nagar Extension: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Sarojini 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, bringing the total fees to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sarojini Avenue?

Sarojini Avenue is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Madanandapuram. It determines the amount of stamp duty and registration fees payable, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value serves as a benchmark for the minimum value on which stamp duty is calculated. This ensures that all transactions are conducted transparently and fairly, in accordance with the prevailing regulations.

Frequently asked questions

What is the current guideline value of Sarojini Avenue?

The current guideline value of Sarojini 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 increased from Rs 3,015 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting a 9% increase. There was no change in the value from 2017 to 2023.

What is the land classification of Sarojini Avenue?

Sarojini Avenue is classified as Mixed Special Type - I. This classification can affect the types of developments allowed in the area.

What are the stamp duty and registration fees for properties in Sarojini Avenue?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000. These fees are based on the guideline value.

Which office handles property registrations for Sarojini Avenue?

The Kunrathur Sub Registrar Office handles property registrations for Sarojini Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.