Guideline Value for Sri Thangam Avenue

Sri Thangam Avenue guideline value

The current guideline value of Sri Thangam Avenue, located in Chikkarayapuram village under the Kunrathur SRO, is Rs 1,760 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - I.

How the guideline value of Sri Thangam Avenue has changed

The guideline value for Sri Thangam Avenue has undergone several revisions over the years. In 2003, the value was set at Rs 75 per sq.ft, which increased to Rs 300 per sq.ft in 2007, marking a significant rise of 300%. The value then saw a substantial jump to Rs 1,600 per sq.ft in 2012, reflecting an increase of 433%. However, by 2017, the value decreased to Rs 1,072 per sq.ft, a decline of 33%. The 2023 revision raised the value to Rs 1,600 per sq.ft, and the most recent revision in 2024 set it at Rs 1,760 per sq.ft, representing a 10% increase.

Overall, from 2003 to 2024, the guideline value has increased by 2,247%. The register has no figure for the year 2002 for this street.

Guideline values in Chikkarayapuram

In Chikkarayapuram, there are 61 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 1,430 to Rs 2,800 per sq.ft. The median value for these streets is Rs 1,980 per sq.ft, placing Sri Thangam Avenue's 2024 figure below that median.

• Sri Thangam Avenue Annexe: Rs 1,760 per sq.ft (2024)
• Sri Sayee Nagar Extension: Rs 2,090 per sq.ft (2024)
• Sri Venkateswara Nagar I, II, III: Rs 1,980 per sq.ft (2024)
• Sri Ragavendra Nagar: Rs 1,980 per sq.ft (2024)
• Subbiya Nagar: Rs 1,980 per sq.ft (2024)
• Subramani Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Thangam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, making the total cost for these fees Rs 1,58,400. It is important to note that the 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 Thangam Avenue?

Sri Thangam Avenue falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Chikkarayapuram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When buyers and sellers engage in a property transaction, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Sri Thangam Avenue?

The current guideline value of Sri Thangam Avenue is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2003 to Rs 1,760 per sq.ft in 2024, with several revisions in between, including increases and decreases.

What is the median guideline value in Chikkarayapuram?

The median guideline value in Chikkarayapuram is Rs 1,980 per sq.ft for the year 2024.

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

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 1,58,400.

Which office handles property registrations for Sri Thangam Avenue?

The Kunrathur Sub Registrar Office handles property registrations for Sri Thangam Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.