Guideline Value for Sri Annai Avenue

Sri Annai Avenue guideline value

The current guideline value of Sri Annai Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Sri Annai Avenue has changed

The guideline value for Sri Annai Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which decreased to Rs 1,340 per sq.ft in the 2017 revision. However, the value saw a significant increase in the 2023 revision, where it rose to Rs 2,000 per sq.ft, and further increased to Rs 2,200 per sq.ft in the 2024 revision, marking a 10% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 22%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. The guideline value for Sri Annai Avenue is equal to this median.

• Sri Arasu Avenue: Rs 2,200 per sq.ft (2024)
• Sri Devi Karumari Amman Koil Street: Rs 2,200 per sq.ft (2024)
• Sri Devi Karumari Amman Nagar: Rs 2,200 per sq.ft (2024)
• Soundhariya Colony / Soundhariya Nagar: Rs 2,200 per sq.ft (2024)
• Sri Durga Avenue / Dhurgai Avenue & Annex: Rs 2,700 per sq.ft (2024)
• Solaiamman Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Annai 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, while the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Sri Annai Avenue?

The Sub Registrar Office that covers Sri Annai Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

When buying or selling property in Selavoyal, the guideline value plays a crucial role in determining the stamp duty and registration fees. The guideline value is a standard rate set by the government and is used to calculate the taxes applicable during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Ensuring that the sale price is in line with the guideline value can help avoid discrepancies during registration.

Frequently asked questions

What is the current guideline value of Sri Annai Avenue?

The current guideline value of Sri Annai 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 changed from Rs 1,800 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Sri Annai Avenue?

Sri Annai Avenue is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Sri Annai Avenue?

The Madhavaram Sub Registrar Office covers Sri Annai Avenue, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is the stamp duty calculated for properties in Sri Annai Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.