Guideline Value for Sri Nagar Colony Temple Avenue

Sri Nagar Colony Temple Avenue guideline value

The current guideline value of Sri Nagar Colony Temple Avenue is Rs 8,300 per sq.ft, effective from 1 July 2024. This area is located in Venkatapuram village under the Adayar SRO and is classified as Residential Class I Type - I.

How the guideline value of Sri Nagar Colony Temple Avenue has changed

Looking at the revisions, the guideline value for Sri Nagar Colony Temple Avenue has seen significant changes over the years. The 2012 revision set the value at Rs 7,500 per sq.ft, which then decreased to Rs 5,025 per sq.ft in 2017. Following this, the value rose to Rs 7,500 per sq.ft in 2023, and finally, it increased to Rs 8,300 per sq.ft in 2024, marking an increase of 11% from the previous year.

From 2017 to 2023, there was a notable increase of 49%, while the 2012 to 2017 period saw a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 11%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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 value for these streets is Rs 5,500 per sq.ft, indicating that Sri Nagar Colony Temple Avenue's 2024 figure of Rs 8,300 per sq.ft is above this median.

• Sri Nagar Colony South mada veedhi (Old Central Avenue road): Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony West Mada Veedhi: Rs 8,300 per sq.ft (2024)
• Sri Nagar Colony South Avenue: 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 Temple Avenue

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, while the registration fee at 2% would be Rs 1,66,000. Together, the total cost for these fees would be 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.

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

Which Sub Registrar Office covers Sri Nagar Colony Temple Avenue?

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

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

The guideline value is a critical factor in the registration process for property transactions in Venkatapuram. It serves as a benchmark for calculating the stamp duty and registration fees that are applicable when buying or selling property in this area.

When a property is registered, the guideline value will be used to determine the fees, which are calculated based on the higher of the guideline value or the actual sale price. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Nagar Colony Temple Avenue?

The current guideline value of Sri Nagar Colony Temple Avenue is Rs 8,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with the most recent revision in 2024 marking an increase to Rs 8,300 per sq.ft from Rs 7,500 per sq.ft in 2023.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 83,00,000, the stamp duty would be Rs 5,81,000 and the registration fee would be Rs 1,66,000, totaling Rs 7,47,000.

Which Sub Registrar Office covers Sri Nagar Colony Temple Avenue?

The Adayar Sub Registrar Office covers Sri Nagar Colony Temple Avenue, located at 51, Kamaraj Avenue, Second Street, Adyar, Chennai-20.

What is the land classification for Sri Nagar Colony Temple Avenue?

Sri Nagar Colony Temple Avenue is classified as Residential Class I Type - I, indicating its designation for residential purposes.