Guideline Value for Sri Nagar Colony South mada veedhi (Old Central Avenue road)

Sri Nagar Colony South mada veedhi (Old Central Avenue road) guideline value

The current guideline value of Sri Nagar Colony South mada veedhi (Old Central Avenue road) is Rs 8,300 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village and falls under the Adayar SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Nagar Colony South mada veedhi (Old Central Avenue road) has changed

The guideline value for Sri Nagar Colony South mada veedhi has seen several revisions over the years. In 2002, the guideline value was Rs 1,112 per sq.ft, which increased to Rs 1,641 per sq.ft in 2003, marking a change of +48%. The value then rose significantly to Rs 4,000 per sq.ft in 2007, reflecting a remarkable increase of +144%. Following this, the guideline value decreased to Rs 7,500 per sq.ft in 2012, a drop of -33%. The value then increased again to Rs 5,025 per sq.ft in 2017, which was a +49% rise from the previous revision. In 2023, the guideline value was Rs 7,500 per sq.ft, and it has now reached Rs 8,300 per sq.ft in 2024, marking an increase of +11%.

There are no figures available for the years not listed in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +646%.

Guideline values in Venkatapuram

In Venkatapuram, there are 36 streets under the Adayar SRO that carry a 2024 guideline value, ranging from Rs 2,800 to Rs 15,400 per sq.ft. The median guideline value in this area is Rs 5,500 per sq.ft, placing Sri Nagar Colony South mada veedhi's 2024 figure above that median.

• Sri Nagar Colony South Avenue: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony Temple Avenue: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony West Mada Veedhi: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony North Mada Veedhi: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony North Avenue: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony East Mada Veedhi: Rs 8,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Nagar Colony South mada veedhi (Old Central Avenue road)

For a 1,000 sq.ft plot at the current guideline value of Rs 8,300 per sq.ft, the total guideline value would be Rs 83,00,000. The stamp duty at 7% would amount to Rs 5,81,000, and the registration fee at 2% would be Rs 1,66,000, bringing the total to Rs 7,47,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Nagar Colony South mada veedhi (Old Central Avenue road)?

The Sub Registrar Office that covers Sri Nagar Colony South mada veedhi is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Venkatapuram. It is used as a reference point for calculating stamp duty and registration fees during the sale or purchase of properties. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to determine the applicable duties and fees. This process ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Nagar Colony South mada veedhi?

The current guideline value of Sri Nagar Colony South mada veedhi (Old Central Avenue road) is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,112 per sq.ft in 2002 to Rs 8,300 per sq.ft in 2024, reflecting an overall increase of +646% over the years.

What is the land classification for this area?

The land classification for Sri Nagar Colony South mada veedhi is Residential Class I Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Sri Nagar Colony South mada veedhi is the Adayar Sub Registrar Office, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 83,00,000, the stamp duty at 7% would be Rs 5,81,000.