Guideline Value for Sri Raghavendra Avenue

Sri Raghavendra Avenue guideline value

The current guideline value of Sri Raghavendra Avenue in Perungalathur village, under the Padappai SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Sri Raghavendra Avenue has changed

The guideline value for Sri Raghavendra Avenue has seen several revisions over the years. The earliest recorded figure is from 2007, which was Rs 200 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in 2012, marking an increase of 800%. However, it then decreased to Rs 1,206 per sq.ft in 2017, a drop of 33%. The value rose to Rs 1,800 per sq.ft in 2023, and currently stands at Rs 1,980 per sq.ft from the 2024 revision, reflecting an increase of 10% from the previous year.

There are no recorded figures for the years 2002 and 2003 for this street. The overall increase from the 2007 revision to the current 2024 guideline value is 890%.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value of Sri Raghavendra Avenue is below this median.

• Sri Raghavendra Enclave: Rs 1,980 per sq.ft (2024)
• Sri Raghavendra Nagar: Rs 1,980 per sq.ft (2024)
• Sri Rajarajeshwari Extn -II: Rs 2,310 per sq.ft (2024)
• Sri Ragavendra Garden/Enclave: Rs 1,320 per sq.ft (2024)
• Sri Rajarajeswari Nagar Extension - I: Rs 2,310 per sq.ft (2024)
• Sri Rajeshwari Nagar: Rs 2,310 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Raghavendra Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, bringing the total to Rs 1,78,200. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Raghavendra Avenue?

The Sub Registrar Office that covers Sri Raghavendra Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perungalathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is assessed to ensure that the transaction is in line with the prevailing rates in the area. This helps in maintaining transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Sri Raghavendra Avenue?

The current guideline value of Sri Raghavendra Avenue is Rs 1,980 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 1,980 per sq.ft in 2024, marking an overall increase of 890% over the years.

What is the land classification for Sri Raghavendra Avenue?

Sri Raghavendra Avenue is classified as Residential Class III Type - I.

What is the registration office for Sri Raghavendra Avenue?

The registration office for Sri Raghavendra Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Sri Raghavendra Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at 7%.