Guideline Value for Sri Arasu Avenue

Sri Arasu Avenue guideline value

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

How the guideline value of Sri Arasu Avenue has changed

The guideline value for Sri Arasu Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. This was a decrease of 26%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, marking a 49% rise. The latest revision in 2024 has further increased the value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 22%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current guideline value for Sri Arasu Avenue.

• Sri Annai 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 Arasu Avenue

For a 1,000 sq.ft plot at the current rate, the guideline value is 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, making the total Rs 1,98,000. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Arasu Avenue?

The Sub Registrar Office that covers Sri Arasu 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

The guideline value is a crucial factor in property transactions in Selavoyal, as it determines the minimum value at which a property can be registered. When purchasing or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is important for buyers and sellers to be aware of the guideline value, as it influences the overall cost of the transaction. Ensuring that the sale price meets or exceeds the guideline value is essential for a smooth registration process.

Frequently asked questions

What is the current guideline value of Sri Arasu Avenue?

The current guideline value of Sri Arasu 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 2,200 per sq.ft in 2024, with various increases and a decrease in between.

What is the land classification for Sri Arasu Avenue?

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

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

The Sub Registrar Office for Sri Arasu Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Sri Arasu Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value would incur a total of Rs 1,98,000 in fees.