Guideline Value for Sri Avenue

Sri Avenue guideline value

The current guideline value of Sri Avenue in Thandalam village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Pammal Sub Registrar Office (SRO) and is classified as Residential Class III Type - I.

How the guideline value of Sri Avenue has changed

The guideline value for Sri Avenue has seen significant changes over the years. In the 2017 revision, the value was Rs 536 per sq.ft, which increased to Rs 800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 set the value at Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for this street in the revisions of 2002, 2003, 2007, and 2012.

Guideline values in Thandalam

In Thandalam, there are 56 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 1,210 per sq.ft. The guideline value of Sri Avenue is below this median.

• Sri Ambal Nagar: Rs 1,210 per sq.ft (2024)
• Sri Dhanalakshmi Nagar: Rs 1,210 per sq.ft (2024)
• Sri Ganesh Nagar: Rs 880 per sq.ft (2024)
• Sri Kamachi Garden Phase - II: Rs 3,300 per sq.ft (2024)
• Sri Kamatchi Gardens: Rs 3,300 per sq.ft (2024)
• Sri Raghavendhra Avenue: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty at 7% would amount to Rs 61,600, and the registration fee at 2% would be Rs 17,600, making a total of Rs 79,200. It is important to note that 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 Avenue?

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

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

The guideline value plays a crucial role in property transactions in Thandalam. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. Buyers and sellers should be aware of the current guideline value to ensure compliance with registration requirements.

When registering a property, the guideline value serves as a benchmark for calculating the necessary fees. It is essential for both parties in a transaction to be informed about the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Avenue?

The current guideline value of Sri Avenue is Rs 880 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 536 per sq.ft in 2017 to Rs 880 per sq.ft in 2024, which is a total increase of 64% over these years.

What is the land classification for Sri Avenue?

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

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

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200.

Which Sub Registrar Office covers the registration for Sri Avenue?

The Pammal Sub Registrar Office covers the registration for Sri Avenue, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.