Guideline Value for Sri Ram Avenue

Sri Ram Avenue guideline value

The current guideline value of Sri Ram Avenue in Jampuli village, under the Madhavaram SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Sri Ram Avenue has changed

The guideline value for Sri Ram Avenue has seen several revisions over the years. The earliest recorded figure is from 2012, when it was Rs 1,600 per sq.ft. This was followed by a decrease to Rs 1,072 per sq.ft in 2017, and then an increase to Rs 1,600 per sq.ft in 2023. The most recent revision in 2024 set the guideline value at Rs 1,700 per sq.ft, marking a 6% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 6%.

There are no recorded figures for the years 2002, 2003, and 2007 for this street. The changes between revisions include a 49% increase from 2017 to 2023 and a 33% decrease from 2012 to 2017.

Guideline values in Jampuli

In Jampuli village, there are 118 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 3,300 per sq.ft, with a median value of Rs 2,450 per sq.ft. The guideline value for Sri Ram Avenue is below this median.

• Selvaraj Nagar: Rs 1,700 per sq.ft (2024)
• Sasthiri Nagar Extension: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 8th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 7th Street: Rs 2,700 per sq.ft (2024)
• Sasthiri Nagar 6th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Ram Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Ram Avenue?

The Sub Registrar Office that covers Sri Ram Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Jampuli. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value ensures that the transaction is recorded accurately and fairly in the official registry. This helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Sri Ram Avenue?

The current guideline value of Sri Ram Avenue is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for Sri Ram Avenue?

Sri Ram Avenue is classified as Residential Class IV Type - I.

What are the stamp duty and registration fees for properties in Sri Ram Avenue?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would amount to Rs 1,53,000.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.