Guideline Value for Sri Devi Avenue

Sri Devi Avenue guideline value

The current guideline value of Sri Devi Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village, under the Selaiyur SRO, and is classified as Residential Class II Type - II.

How the guideline value of Sri Devi Avenue has changed

The guideline value for Sri Devi Avenue has seen several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in 2017. Following this, there was a significant increase to Rs 1,200 per sq.ft in 2023, and the latest revision in 2024 raised it further to Rs 1,300 per sq.ft. The register has no figure for the revisions in 2002, 2003, and 2007.

Between the revisions, the changes were as follows: from 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from 2012 to 2024 reflects a modest increase of 8%.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft, with a median value of Rs 2,150 per sq.ft. The guideline value for Sri Devi Avenue is below this median.

• Sree Sathiya Sai Nagar: Rs 1,300 per sq.ft (2024)
• Sozhi Nagar Main Road: Rs 850 per sq.ft (2024)
• Sivasakthi Nagar Ext III: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar Ext II: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar Ext I: Rs 2,150 per sq.ft (2024)
• Sivasakthi Nagar 4th Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Devi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, while the registration fee at 2% would be Rs 26,000, making the total cost for these fees Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Devi Avenue?

The Sub Registrar Office that covers Sri Devi Avenue is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Rajakilpakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the fees reflect the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Sri Devi Avenue?

The current guideline value of Sri Devi Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Sri Devi Avenue?

Sri Devi Avenue is classified as Residential Class II Type - II, indicating its designation for residential use within the area.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the stamp duty calculated for properties in Sri Devi Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,17,000.