Guideline Value for Sri Ambal Nagar Venkateswara Avenue

Sri Ambal Nagar Venkateswara Avenue guideline value

The current guideline value of Sri Ambal Nagar Venkateswara Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Mangadu -A village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Sri Ambal Nagar Venkateswara Avenue has changed

The guideline value for Sri Ambal Nagar Venkateswara Avenue has seen several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision. The latest revision in 2024 has further raised the value to Rs 2,200 per sq.ft, marking a significant increase of 10% from the previous year and an overall increase of 64% from 2017.

Between the 2017 and 2023 revisions, the guideline value rose by 49%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Mangadu -A

In Mangadu -A, there are 208 streets under the Kunrathur SRO that have a guideline value for 2024, ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value for these streets is Rs 1,870 per sq.ft, placing Sri Ambal Nagar Venkateswara Avenue above this median.

• Sri Ambal Nagar Manali Ramakrishna Avenue Phase II: Rs 2,200 per sq.ft (2024)
• Sri Ambal Venkateswara Avenue: Rs 2,200 per sq.ft (2024)
• Sri Ambal Nagar Manali Ramakrishna Avenue: Rs 2,200 per sq.ft (2024)
• Sri Ambal Nagar Extension I to VIII: Rs 2,200 per sq.ft (2024)
• Sri Amman Nagar: Rs 1,540 per sq.ft (2024)
• Sri Ambal Gajalakshmi Nagar Phase I to IV: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ambal Nagar Venkateswara Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. Please note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Sri Ambal Nagar Venkateswara Avenue?

The Sub Registrar Office that covers Sri Ambal Nagar Venkateswara 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 Mangadu -A

The guideline value is a crucial factor when registering property transactions in Mangadu -A. 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 sold or bought, the transaction must be registered at the local Sub Registrar Office, where the guideline value will be used to calculate the applicable fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Sri Ambal Nagar Venkateswara Avenue?

The current guideline value of Sri Ambal Nagar Venkateswara Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, representing a total increase of 64% over this period.

What are the stamp duty and registration fees for properties in this area?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees amount to Rs 1,98,000.

Where can I find the Sub Registrar Office for this area?

The Kunrathur Sub Registrar Office covers Sri Ambal Nagar Venkateswara Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Sri Ambal Nagar Venkateswara Avenue?

Sri Ambal Nagar Venkateswara Avenue is classified as Residential Special Type - I, indicating its designated use for residential purposes.