Guideline Value for Sri Sai Avenue

Sri Sai Avenue guideline value

The current guideline value of Sri Sai Avenue, located in Gooduvancheri village, is Rs 1,000 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Class III Type - I.

How the guideline value of Sri Sai Avenue has changed

The guideline value for Sri Sai Avenue has undergone several revisions over the years. The 2017 revision set the value at Rs 670 per sq.ft. This figure remained unchanged until the 2023 revision, which also recorded Rs 1,000 per sq.ft. The most recent revision in 2024 maintained this value, showing no change from the previous year, with an overall increase of 49% from 2017 to 2024.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Therefore, the current value reflects a significant increase compared to the earlier 2017 figure.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Sri Sai Avenue's current guideline value is below this median.

• Sri Sai Baba Nagar: Rs 1,200 per sq.ft (2024)
• Sriram Nagar: Rs 1,200 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 1,200 per sq.ft (2024)
• Srinu Prabhu Nagar: Rs 2,001 per sq.ft (2024)
• Srinivasapuram: Rs 2,001 per sq.ft (2024)
• Srinivasa Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, while the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sai Avenue?

Sri Sai Avenue is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Gooduvancheri. It is used to determine the stamp duty and registration fees that need to be paid during the registration process. Buyers and sellers must be aware of the current guideline value to ensure they comply with the legal requirements during property transactions.

When you register a property, the guideline value is considered to protect the interests of the government and to ensure that properties are not undervalued. This helps maintain transparency in property transactions and ensures that all parties are treated fairly.

Frequently asked questions

What is the current guideline value of Sri Sai Avenue?

The current guideline value of Sri Sai Avenue is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 670 per sq.ft in 2017 to Rs 1,000 per sq.ft in both 2023 and 2024, reflecting a 49% increase overall from 2017 to 2024.

What is the land classification for Sri Sai Avenue?

Sri Sai Avenue is classified as Residential Class III Type - I, indicating its suitability for residential development.

Where can I find the registration office for Sri Sai Avenue?

The registration office for Sri Sai Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For instance, for a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 at a rate of 7%.