Guideline Value for Sri Vanmugil Avenue

Sri Vanmugil Avenue guideline value

The current guideline value of Sri Vanmugil Avenue is Rs 300 per sq.ft, effective from 1 July 2024. This street is located in Eraiyur village, under the Sriperumpudur SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Sri Vanmugil Avenue has changed

The guideline value for Sri Vanmugil Avenue has seen several revisions over the years. In 2007, the value was Rs 160 per sq.ft, which increased to Rs 300 per sq.ft in 2012. However, from 2012 to 2017, there was a decrease to Rs 201 per sq.ft. The value then rose significantly to Rs 300 per sq.ft in both the 2023 and 2024 revisions, showing no change between these two years.

Overall, from 2007 to 2024, the guideline value has increased by 88%. The revisions for the years 2002 and 2003 have no figures for this street in the register.

Guideline values in Eraiyur

In Eraiyur, there are 35 streets under the Sriperumpudur SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 471 per sq.ft, with a median value of Rs 200 per sq.ft. Sri Vanmugil Avenue's 2024 figure is above this median.

• Sumangali Nagar: Rs 350 per sq.ft (2024)
• Sumangali Nagar Extn: Rs 350 per sq.ft (2024)
• Sri Ramachandra Nagar: Rs 350 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 200 per sq.ft (2024)
• Theru veedhiyamman Koil Street: Rs 200 per sq.ft (2024)
• Thideer Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Vanmugil Avenue

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value amounts to Rs 3,00,000. The stamp duty is charged at 7%, totaling Rs 21,000, and the registration fee at 2% amounts to Rs 6,000. Together, the total fees would be Rs 27,000. 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 further calculations.

Which Sub Registrar Office covers Sri Vanmugil Avenue?

Sri Vanmugil Avenue is covered by the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Eraiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately, reflecting the official value of the property. This process is essential for maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Sri Vanmugil Avenue?

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

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions in 2023 and 2024 showing no change at Rs 300 per sq.ft. The value was Rs 201 per sq.ft in 2017 and Rs 300 per sq.ft in 2012.

What are the guideline values of other streets in Eraiyur?

Other streets in Eraiyur have varying guideline values, with rates ranging from Rs 100 to Rs 471 per sq.ft. Notably, Sumangali Nagar, Sumangali Nagar Extn, and Sri Ramachandra Nagar all have a guideline value of Rs 350 per sq.ft in 2024.

What fees are associated with buying property in Sri Vanmugil Avenue?

When buying property on Sri Vanmugil Avenue, the stamp duty is 7% of the guideline value, and the registration fee is 2%. For example, for a 1,000 sq.ft plot, the total fees would be Rs 27,000.

Where is the Sub Registrar Office for Sri Vanmugil Avenue located?

The Sub Registrar Office covering Sri Vanmugil Avenue is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.