Guideline Value for Sri Perundevi Amman Avenue

Sri Perundevi Amman Avenue guideline value

The current guideline value of Sri Perundevi Amman Avenue is Rs 4,400 per sq.ft, effective from 1 July 2024. This street is located in Kolathur village and falls under the Sembiam SRO, classified as Residential Special Type - I.

How the guideline value of Sri Perundevi Amman Avenue has changed

The guideline value for Sri Perundevi Amman Avenue has seen several revisions over the years. In 2002, the guideline value was Rs 291 per sq.ft, which increased to Rs 316 per sq.ft in 2003. Following that, there was a significant rise to Rs 900 per sq.ft in 2007, marking an increase of 185%. The value then rose dramatically to Rs 4,000 per sq.ft in 2012, reflecting a 344% increase. However, it dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 4,000 per sq.ft in 2023, and most recently, it has risen to Rs 4,400 per sq.ft in 2024, an increase of 10%.

Overall, from 2002 to 2024, the guideline value has increased by 1,412%. There are no figures available for the revisions of the years not listed in the register for this street.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. The guideline value of Sri Perundevi Amman Avenue is above this median.

• Srinivasa Nagar 9th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 8th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 7th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 7th Cross Street: Rs 3,600 per sq.ft (2024)
• Srinivasa Nagar 6th Street: Rs 4,400 per sq.ft (2024)
• Srinivasa Nagar 6th Cross Street: Rs 3,600 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Perundevi Amman Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost to Rs 3,96,000. Please 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 Perundevi Amman Avenue?

The Sub Registrar Office that covers Sri Perundevi Amman Avenue is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kolathur. It is used to determine the stamp duty and registration fees applicable to the transaction. The buyer must pay these fees based on the guideline value or the sale price, whichever is higher.

When registering a property, the guideline value ensures that the transaction is documented accurately, reflecting the government's assessment of property values in the area. This helps maintain transparency in property transactions and ensures that the appropriate taxes are collected.

Frequently asked questions

What is the current guideline value of Sri Perundevi Amman Avenue?

The current guideline value of Sri Perundevi Amman Avenue is Rs 4,400 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 291 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 1,412% over the years.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office is responsible for Sri Perundevi Amman Avenue?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, is responsible for Sri Perundevi Amman Avenue.

What is the significance of the guideline value in property transactions?

The guideline value is essential in determining the stamp duty and registration fees during property transactions. It ensures that the correct taxes are collected based on the government's assessment of property values in the area.