Guideline Value for Sri Annai Parasakthi Avenue

Sri Annai Parasakthi Avenue guideline value

The current guideline value of Sri Annai Parasakthi Avenue is Rs 200 per sq.ft, effective from 1 July 2024. This street is located in Thirumanikuppam village under the Sunguvarchattram SRO and is classified as Residential Special Type - I.

How the guideline value of Sri Annai Parasakthi Avenue has changed

The guideline value for Sri Annai Parasakthi Avenue has seen several revisions over the years. The earliest recorded revision was in 2007, where the value was Rs 75 per sq.ft. This increased to Rs 200 per sq.ft in 2012, followed by a decrease to Rs 134 per sq.ft in 2017. The 2023 revision maintained this value at Rs 200 per sq.ft, and the most recent revision in 2024 has kept it at Rs 200 per sq.ft, showing no change from the previous year.

In summary, the changes between revisions include a significant increase of 167% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a notable increase of 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 167%.

Guideline values in Thirumanikuppam

In Thirumanikuppam, there are 15 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 130 to Rs 200 per sq.ft, with a median value of Rs 181 per sq.ft. The guideline value for Sri Annai Parasakthi Avenue is above this median.

• Sri Balaji Nagar: Rs 200 per sq.ft (2024)
• Sri Jayalakshmi nagar: Rs 200 per sq.ft (2024)
• SriLakshmi Nagar: Rs 200 per sq.ft (2024)
• Thatko Colony: Rs 130 per sq.ft (2024)
• Raja Maharaja Nagar: Rs 200 per sq.ft (2024)
• Vasinampattu Colony: Rs 130 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Annai Parasakthi Avenue

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value totals Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that 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 Annai Parasakthi Avenue?

The Sub Registrar Office covering Sri Annai Parasakthi Avenue is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Thirumanikuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the registration fees reflect the true value of the transaction.

Frequently asked questions

What is the current guideline value of Sri Annai Parasakthi Avenue?

The current guideline value of Sri Annai Parasakthi Avenue is Rs 200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has gone through several revisions, with the most recent being Rs 200 per sq.ft in 2024, unchanged from 2023. The value was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

What is the land classification for Sri Annai Parasakthi Avenue?

Sri Annai Parasakthi Avenue is classified as Residential Special Type - I, which indicates its suitability for residential development.

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

The Sub Registrar Office for Sri Annai Parasakthi Avenue is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 at 7%.