Guideline Value for Sri Ambal Avenue

Sri Ambal Avenue guideline value

The current guideline value of Sri Ambal Avenue, located in Agraharam Vada village under the Poonamallee SRO, is Rs 880 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Sri Ambal Avenue has changed

The guideline value for Sri Ambal Avenue has undergone several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft. This figure decreased to Rs 670 per sq.ft in 2017, marking a decline of 33%. The value then increased to Rs 800 per sq.ft in 2023, which was a rise of 19%. The current revision in 2024 sees the guideline value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has decreased by 12%.

Guideline values in Agraharam Vada

Agraharam Vada features 17 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 660 to Rs 1,650 per sq.ft. The median guideline value for these streets is Rs 880 per sq.ft, which is equal to the current value of Sri Ambal Avenue.

• Sri Ambal Nagar Kamachi Avenue: Rs 660 per sq.ft (2024)
• Shree Mahalakshmi Nagar: Rs 880 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 850 per sq.ft (2024)
• Ramachandran Nagar: Rs 850 per sq.ft (2024)
• Pilliyar Koil Street: Rs 850 per sq.ft (2024)
• Padmavathy Nagar Extension: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ambal Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty is calculated at 7%, totaling Rs 61,600, while the registration fee is 2%, amounting to Rs 17,600. Together, the total fees come to Rs 79,200. 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 Sri Ambal Avenue?

The Sub Registrar Office that covers Sri Ambal Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Agraharam Vada. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is bought or sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Ambal Avenue?

The current guideline value of Sri Ambal Avenue is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then to Rs 800 per sq.ft in 2023, and finally to Rs 880 per sq.ft in 2024.

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

For a property valued at Rs 8,80,000, the stamp duty is Rs 61,600, and the registration fee is Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers Sri Ambal Avenue?

The Poonamallee Sub Registrar Office covers Sri Ambal Avenue, located at No.332 U + 9cc Malma Nagar, Poonamallee, Chennai - 600056.

What is the land classification of Sri Ambal Avenue?

Sri Ambal Avenue is classified as Residential Special Type - I, which indicates its intended use for residential purposes.