Guideline Value for Shirdi Sai Avenue

Shirdi Sai Avenue guideline value

The current guideline value of Shirdi Sai Avenue is Rs 500 per sq.ft, effective from 1 July 2024. This street is located in Kavanur village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Shirdi Sai Avenue has changed

The guideline value for Shirdi Sai Avenue has undergone several revisions over the years. The earliest recorded revision in 2012 set the value at Rs 500 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 335 per sq.ft. However, this figure saw a significant increase in the 2023 revision, bringing it back to Rs 500 per sq.ft, and this value has been maintained in the 2024 revision as well.

Specifically, from 2017 to 2023, there was a 49% increase in the guideline value, while the change from 2012 to 2017 reflected a decrease of 33%. Overall, comparing the 2012 and 2024 revisions, the guideline value has remained stable at Rs 500 per sq.ft.

Guideline values in Kavanur

In Kavanur, there are 109 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 500 to Rs 2,239 per sq.ft. The median guideline value in this area is Rs 800 per sq.ft, indicating that the guideline value for Shirdi Sai Avenue is below the median.

• Sharveswarar Nagar: Rs 600 per sq.ft (2024)
• Sky Nagar: Rs 700 per sq.ft (2024)
• Sri Andal Co-op Nagar: Rs 600 per sq.ft (2024)
• Sri Andal Co-op Nagar Extn, Part-II: Rs 600 per sq.ft (2024)
• Sri Gopalakrishna Nagar: Rs 1,000 per sq.ft (2024)
• Sri Gopalakrishna Nagar Extension: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Shirdi Sai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty, charged at 7%, would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total cost for these fees to Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Shirdi Sai Avenue?

The Sub Registrar Office that covers Shirdi Sai Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kavanur. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Shirdi Sai Avenue?

The current guideline value of Shirdi Sai Avenue is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2023, after a significant increase from Rs 335 per sq.ft in 2017. The value was also Rs 500 per sq.ft in 2012.

What is the land classification for Shirdi Sai Avenue?

Shirdi Sai Avenue is classified as Residential Class II Type - I, indicating its suitability for residential development.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 500 per sq.ft, the total fees would amount to Rs 45,000.

Which office handles registrations for Shirdi Sai Avenue?

The Gooduvancheri Sub Registrar Office handles registrations for Shirdi Sai Avenue, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.