Guideline Value for Sri Dhanalakshmi Avenue

Sri Dhanalakshmi Avenue guideline value

The current guideline value of Sri Dhanalakshmi Avenue is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Pullilyon village, under the jurisdiction of the Redhills SRO, and is classified as Residential Class I Type - I.

How the guideline value of Sri Dhanalakshmi Avenue has changed

The guideline value for Sri Dhanalakshmi Avenue has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 700 per sq.ft. In 2017, it decreased to Rs 469 per sq.ft, marking a decline of 33%. However, the value rebounded significantly in the following years, reaching Rs 700 per sq.ft in 2023, and then increasing to Rs 770 per sq.ft in the 2024 revision, which represents a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, when comparing the figures from 2012 to 2024, there has been a 10% increase. It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pullilyon

In Pullilyon, there are a total of 77 streets under the Redhills SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 700 per sq.ft, and the guideline value for Sri Dhanalakshmi Avenue is above this median.

• Sri Murugan Nagar: Rs 735 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 550 per sq.ft (2024)
• Sivasakthi Nagar: Rs 440 per sq.ft (2024)
• Sri Ranga Co-operative Society Nagar: Rs 770 per sq.ft (2024)
• Sri Renga Co-Operative Nagar: Rs 770 per sq.ft (2024)
• Sri Renga Nagar: Rs 770 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Dhanalakshmi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value would be Rs 7,70,000. The stamp duty, charged at 7%, amounts to Rs 53,900, while the registration fee at 2% is Rs 15,400. Together, the total cost for these fees would be Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details on calculating these fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Sri Dhanalakshmi Avenue?

The Sub Registrar Office that covers Sri Dhanalakshmi Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Pullilyon. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are calculated based on the higher of the guideline value or the actual sale price, which can influence the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Sri Dhanalakshmi Avenue?

The current guideline value of Sri Dhanalakshmi Avenue is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 in 2012 to Rs 469 in 2017, then increased to Rs 700 in 2023, and finally to Rs 770 in 2024.

What is the land classification for Sri Dhanalakshmi Avenue?

Sri Dhanalakshmi Avenue is classified as Residential Class I Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Sri Dhanalakshmi Avenue is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 7,70,000, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400.