Guideline Value for Sri Sangara Avenue

Sri Sangara Avenue guideline value

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

How the guideline value of Sri Sangara Avenue has changed

The guideline value for Sri Sangara Avenue has seen several revisions over the years. In 2002, the value was Rs 69 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007, marking a 375% rise. This was followed by a substantial increase to Rs 1,000 per sq.ft in 2012, representing a 205% increase. However, from 2012 to 2017, the value decreased by 33% to Rs 670 per sq.ft. The most recent revisions show that the value remained at Rs 1,000 per sq.ft in both 2023 and 2024, indicating no change in the guideline value during this period.

The register has no figure for the year 2003 for this street. Overall, from 2002 to 2024, the guideline value has increased by 1349%.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Sri Sangara Avenue's 2024 figure below this median.

• Sri Sai Baba Nagar: Rs 1,200 per sq.ft (2024)
• Sri Valli Nagar: Rs 1,500 per sq.ft (2024)
• Sri Vari Nagar: Rs 1,500 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 1,200 per sq.ft (2024)
• Sri Venkateshwara Nagar Extn.: Rs 1,200 per sq.ft (2024)
• Sriram Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Sangara Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,000 per sq.ft, the guideline value would be Rs 10,00,000. The stamp duty at 7% would amount to Rs 70,000, and the registration fee at 2% would be Rs 20,000, totaling Rs 90,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Sangara Avenue?

The Sub Registrar Office that covers Sri Sangara Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, 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 Nandhivaram

The guideline value plays a crucial role in the registration process of property transactions in Nandhivaram. It is used to determine the stamp duty and registration fees applicable when buying or selling property. The charges are based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the guideline value helps in establishing a fair basis for the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and to accurately calculate the associated costs.

Frequently asked questions

What is the current guideline value of Sri Sangara Avenue?

The current guideline value of Sri Sangara 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 changed significantly, starting from Rs 69 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, with various increases and decreases in between.

What is the land classification for Sri Sangara Avenue?

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

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, if the guideline value is Rs 10,00,000, the stamp duty at 7% would be Rs 70,000.