Guideline Value for Sri Marudhi Avenue

Sri Marudhi Avenue guideline value

The current guideline value of Sri Marudhi Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Pulikoradu village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class II Type - II.

How the guideline value of Sri Marudhi Avenue has changed

The guideline value for Sri Marudhi Avenue has seen several revisions over the years. In 2007, the guideline value was Rs 200 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 400% rise. However, it then decreased to Rs 670 per sq.ft in 2017, which was a decline of 33%. By the 2023 revision, the value was Rs 1,000 per sq.ft, and it increased again to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Pulikoradu

In Pulikoradu, there are 62 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 880 per sq.ft, making Sri Marudhi Avenue's 2024 figure of Rs 1,100 per sq.ft above that median.

• Sri Mahalakshmi Nagar: Rs 2,200 per sq.ft (2024)
• Sri Pasumpon Nagar: Rs 2,200 per sq.ft (2024)
• Sri Bhuvaneshwar Nagar Extn.: Rs 1,100 per sq.ft (2024)
• Sri Bhuvaneshwar Nagar: Rs 880 per sq.ft (2024)
• Service Road(Maduravayul ByPass): Rs 1,320 per sq.ft (2024)
• Selvapuram: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Marudhi Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the 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 Marudhi Avenue?

The Sub Registrar Office that covers Sri Marudhi Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Pulikoradu

The guideline value is a critical factor during the registration process of property transactions in Pulikoradu. 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 helps both parties understand the fair valuation of the property. It is essential to be aware of the current guideline value to avoid discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Sri Marudhi Avenue?

The current guideline value of Sri Marudhi Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting a total increase of 450% over the years.

What is the land classification for Sri Marudhi Avenue?

Sri Marudhi Avenue is classified as Residential Class II Type - II, indicating its suitability for residential development.

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

The Sub Registrar Office for Sri Marudhi Avenue is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.