Guideline Value for Sri Arul Avenue

Sri Arul Avenue guideline value

The current guideline value of Sri Arul Avenue is Rs 2,090 per sq.ft, effective from 1 July 2024. This street is located in Kattupakkam village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Sri Arul Avenue has changed

The guideline value for Sri Arul Avenue has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,900 per sq.ft in 2012. However, this figure dropped to Rs 1,273 per sq.ft in 2017. The value then rose to Rs 1,900 per sq.ft in 2023, before reaching the current value of Rs 2,090 per sq.ft in 2024.

Between the revisions, the changes were notable. From 2007 to 2012, there was a substantial increase of 533%. However, the value decreased by 33% from 2012 to 2017. From 2017 to 2023, the value rose by 49%, and the latest revision from 2023 to 2024 reflects a 10% increase. Overall, from 2007 to 2024, the guideline value has increased by 597%.

Guideline values in Kattupakkam

Kattupakkam has 75 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,290 per sq.ft, with a median value of Rs 2,090 per sq.ft. Sri Arul Avenue's 2024 figure aligns with this median.

• Sri Devi Nagar: Rs 2,090 per sq.ft (2024)
• Sri Nagar: Rs 2,090 per sq.ft (2024)
• Sri P.G. Avenue: Rs 1,980 per sq.ft (2024)
• Senthurpuram Extension II: Rs 3,960 per sq.ft (2024)
• Senthurpuram Extension: Rs 3,960 per sq.ft (2024)
• Senthurpuram Annex: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Arul Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,090 per sq.ft, the total guideline value would be Rs 20,90,000. The stamp duty at 7% would amount to Rs 1,46,300, and the registration fee at 2% would be Rs 41,800, totaling Rs 1,88,100. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Arul Avenue?

The Sub Registrar Office that covers Sri Arul Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kattupakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of a property.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the transaction is recorded accurately and that the appropriate fees are collected by the government.

Frequently asked questions

What is the current guideline value of Sri Arul Avenue?

The current guideline value of Sri Arul Avenue is Rs 2,090 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 300 per sq.ft in 2007 to Rs 2,090 per sq.ft in 2024, reflecting an overall increase of 597% since 2007.

What is the land classification of Sri Arul Avenue?

Sri Arul Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the registration office for Sri Arul Avenue?

The registration office for Sri Arul Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Kattupakkam?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property valued at Rs 20,90,000 would incur a stamp duty of Rs 1,46,300 at a rate of 7%.