Guideline Value for Sri Avenue

Sri Avenue guideline value

The current guideline value of Sri Avenue, located in Vattampakkam village under the Sunguvarchattram SRO, is Rs 448 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Sri Avenue has changed

In the 2012 revision, the guideline value was set at Rs 300 per sq.ft. This figure remained unchanged in the 2017 revision, but by the 2023 revision, it had risen to Rs 448 per sq.ft, marking a significant increase of 49% from the 2017 figure. The 2024 revision also maintained the same rate of Rs 448 per sq.ft, indicating no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Sri Avenue. Overall, from 2012 to 2024, the guideline value has increased by 49%.

Guideline values in Vattampakkam

In Vattampakkam, there are 33 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 1,790 per sq.ft, with a median value of Rs 250 per sq.ft. Sri Avenue's current guideline value is above this median, reflecting its unique position within the village.

• Sri Devi Nagar: Rs 300 per sq.ft (2024)
• Sri KamatchiAmman Nagar: Rs 250 per sq.ft (2024)
• Sri Lakshmi Narayanan Nagar: Rs 500 per sq.ft (2024)
• Shri Sheshadri Brindhavanam Phase I: Rs 500 per sq.ft (2024)
• Swarna Bhoomi: Rs 448 per sq.ft (2024)
• Rose Nagar: Rs 250 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 448 per sq.ft, the total guideline value amounts to Rs 4,48,000. The stamp duty at 7% would be Rs 31,360, and the registration fee at 2% would be Rs 8,960, bringing the total cost for these fees to Rs 40,320. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Sri Avenue?

Sri Avenue falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Vattampakkam, both the buyer and seller must consider the guideline value to ensure compliance with registration requirements.

Additionally, the guideline value impacts the calculation of stamp duty and registration fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Avenue?

The current guideline value of Sri Avenue is Rs 448 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2012 revision, the guideline value has increased from Rs 300 per sq.ft to Rs 448 per sq.ft in 2024, reflecting a 49% increase overall.

What are the other streets in Vattampakkam and their guideline values?

Other streets in Vattampakkam include Sri Devi Nagar at Rs 300 per sq.ft, Sri KamatchiAmman Nagar at Rs 250 per sq.ft, Sri Lakshmi Narayanan Nagar at Rs 500 per sq.ft, Shri Sheshadri Brindhavanam Phase I at Rs 500 per sq.ft, Swarna Bhoomi at Rs 448 per sq.ft, and Rose Nagar at Rs 250 per sq.ft.

What is the stamp duty and registration fee for a property in Sri Avenue?

For a plot of 1,000 sq.ft at the guideline value of Rs 448 per sq.ft, the total guideline value is Rs 4,48,000. The stamp duty would be Rs 31,360, and the registration fee would be Rs 8,960, totaling Rs 40,320.

Which Sub Registrar Office covers Sri Avenue?

Sri Avenue is covered by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.