Guideline Value for Sri Subam Avenue

Sri Subam Avenue guideline value

The current guideline value of Sri Subam Avenue in Madhavaram village, under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This property falls under the Residential Class III Type - I land classification.

How the guideline value of Sri Subam Avenue has changed

Over the years, the guideline value of Sri Subam Avenue has experienced several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in the 2023 revision, and finally, the current value is Rs 1,300 per sq.ft as per the 2024 revision. The register has no figure for this street in the years 2002, 2003, and 2007.

Between the revisions, the guideline value saw an increase of 49% from 2017 to 2023, followed by an 8% increase from 2023 to 2024. However, there was a decrease of 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Sri Subam Avenue is below this median.

• Sri Srinivasa Nagar,Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Sri Srinivasa Nagar: Rs 1,300 per sq.ft (2024)
• Sri Sathya Sai Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Sri Sathya Sai Nagar @ Sai Nagar: Rs 1,300 per sq.ft (2024)
• Sri Sathya Sai Nagar Extension: Rs 1,300 per sq.ft (2024)
• Sri Venkateswara Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Subam Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sri Subam Avenue?

The Sub Registrar Office that covers Sri Subam 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 Madhavaram

The guideline value is an important factor when buying or selling property in Madhavaram. It serves as a benchmark for determining the registration fees and stamp duty applicable during the transaction.

When registering a property, the guideline value is compared to the sale price, and the higher amount is used to calculate the stamp duty and registration fees. This ensures that the costs associated with the transaction are accurately reflected based on the property’s value.

Frequently asked questions

What is the current guideline value of Sri Subam Avenue?

The current guideline value of Sri Subam Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,300 per sq.ft in 2024.

What is the land classification for Sri Subam Avenue?

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

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

For a 1,000 sq.ft plot, the total guideline value is Rs 13,00,000, leading to a stamp duty of Rs 91,000 and a registration fee of Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Sri Subam Avenue?

The Madhavaram Sub Registrar Office handles registrations for Sri Subam Avenue, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.