Guideline Value for Sri Andal Avenue

Sri Andal Avenue guideline value

The current guideline value of Sri Andal Avenue in Erandankattalai village, under the Pammal SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Andal Avenue has changed

The guideline value for Sri Andal Avenue has seen several changes over the years. The 2017 revision set the value at Rs 670 per sq.ft, which increased to Rs 1,000 per sq.ft in the 2023 revision. The most recent 2024 revision raised it further to Rs 1,100 per sq.ft, marking a 10% increase from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 64%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The changes between the revisions indicate a significant rise in the guideline value, particularly from 2017 to 2023, where it increased by 49%.

Guideline values in Erandankattalai

In Erandankattalai, there are 60 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 770 to Rs 4,270 per sq.ft. The median value is Rs 1,100 per sq.ft, which is equal to the guideline value of Sri Andal Avenue.

• Sri Chandrasekarapuram: Rs 1,100 per sq.ft (2024)
• Srinivasa Perumal Koil Street (ward 4): Rs 1,100 per sq.ft (2024)
• Srinivasa Perumal Koil Street (ward 5): Rs 1,100 per sq.ft (2024)
• Srinivasa Perumal Koil Street (ward 6): Rs 1,100 per sq.ft (2024)
• Sri Raghavendra Nagar: Rs 1,100 per sq.ft (2024)
• Sri Raghavendra Nagar Extn: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Andal Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost Rs 99,000. It is important to 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 precise calculations based on your specific property details.

Which Sub Registrar Office covers Sri Andal Avenue?

The Sub Registrar Office that covers Sri Andal Avenue is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Erandankattalai. It serves as a reference point for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When registering a property, the guideline value ensures that the transaction is documented at a fair value, preventing undervaluation. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Sri Andal Avenue?

The current guideline value of Sri Andal Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,100 per sq.ft in 2024, marking a total increase of 64% over this period.

What is the land classification for Sri Andal Avenue?

Sri Andal Avenue is classified as Residential Class I Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in Sri Andal Avenue?

For a 1,000 sq.ft plot, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000, based on the current guideline value.

Which office handles property registration for Sri Andal Avenue?

The Pammal Sub Registrar Office, located on Kamarajapuram Thiruneermalai Main Road, handles property registrations for Sri Andal Avenue.