Guideline Value for Sri Avenue

Sri Avenue guideline value

The current guideline value of Sri Avenue in Thirumullaivoyal village, under the Ambattur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - II.

How the guideline value of Sri Avenue has changed

Over the years, the guideline value of Sri Avenue has seen several revisions. The earliest recorded figure is from 2012, which was Rs 1,100 per sq.ft. This was followed by a decrease to Rs 737 per sq.ft in 2017. The value then increased to Rs 1,100 per sq.ft in 2023, and currently stands at Rs 1,200 per sq.ft as of the 2024 revision. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the guideline value increased significantly by 49%. The overall change from 2012 to 2024 reflects a modest increase of 9%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, indicating that Sri Avenue's current value is below this median.

• Sri Balaji Nagar (S.No. 329 & 330, 331) Near Thendral Nagar: Rs 1,600 per sq.ft (2024)
• Sri Balaji Nagar (S.No. 77, 82, 83): Rs 880 per sq.ft (2024)
• Sri Devi Karumariamman Nagar: Rs 1,500 per sq.ft (2024)
• Sri Devi Nagar (S.No.194): Rs 1,400 per sq.ft (2024)
• Sri Devi Vaishnavi Nagar (A Street): Rs 2,700 per sq.ft (2024)
• South Mada Street: Rs 2,400 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 1,200 per sq.ft, the guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, while the registration fee at 2% would be Rs 24,000, totaling Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Sri Avenue?

The Sub Registrar Office that covers Sri Avenue is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Thirumullaivoyal. It serves as a benchmark for determining the minimum value at which a property can be registered. When buying or selling property, the registration fees and stamp duty are calculated based on this guideline value or the sale price, whichever is higher.

This ensures that the government receives appropriate revenue from property transactions. Buyers and sellers should be aware of the current 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 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then to Rs 1,100 per sq.ft in 2023, and finally to Rs 1,200 per sq.ft in 2024.

What is the land classification for Sri Avenue?

Sri Avenue is classified as Residential Class IV Type - II, indicating its use for residential purposes.

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

The Sub Registrar Office for Sri Avenue is located at Ambattur Sub Registrar Office, Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is stamp duty calculated for properties in Sri Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 at 7%.