Guideline Value for Sri Sai Avenue

Sri Sai Avenue guideline value

The current guideline value of Sri Sai Avenue is Rs 830 per sq.ft, effective from 1 July 2024. This street is located in Padappai village under the Padappai SRO, classified as Residential Class III Type - I.

How the guideline value of Sri Sai Avenue has changed

In the 2012 revision, the guideline value was Rs 750 per sq.ft. It then decreased to Rs 502 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 750 per sq.ft in the 2023 revision, and further rose to Rs 830 per sq.ft in the 2024 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

From 2017 to 2023, there was a notable increase of 49%, and from 2023 to 2024, the increase was 11%. Overall, from 2012 to 2024, the guideline value has increased by 11%.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median value is Rs 830 per sq.ft, which is equal to the guideline value of Sri Sai Avenue.

• Sri Saibaba Gardens: Rs 830 per sq.ft (2024)
• Sri Sai Baba Nagar: Rs 830 per sq.ft (2024)
• Sri Sai Baba Nagar Extn: Rs 830 per sq.ft (2024)
• Sri Ranganatha Nagar: Rs 1,320 per sq.ft (2024)
• Sri Rajeshwari Nagar: Rs 1,320 per sq.ft (2024)
• Sri Selva Vinayagar Nagar: Rs 830 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 830 per sq.ft, the total guideline value amounts to Rs 8,30,000. The stamp duty at 7% would be Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total fees to Rs 74,700. 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?

The Sub Registrar Office that covers Sri Sai 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 Padappai

The guideline value is a crucial factor in property transactions in Padappai, as it determines the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Sai Avenue?

The current guideline value of Sri Sai Avenue is Rs 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 750 per sq.ft in 2023, and finally to Rs 830 per sq.ft in 2024.

What is the land classification for Sri Sai Avenue?

Sri Sai Avenue is classified as Residential Class III Type - I under the Padappai SRO.

What are the stamp duty and registration fees for a property in Sri Sai Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 74,700, which includes a stamp duty of Rs 58,100 and a registration fee of Rs 16,600.

Which office handles registrations for properties in Sri Sai Avenue?

The Padappai Sub Registrar Office handles registrations for properties in Sri Sai Avenue, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.