Guideline Value for Sri chakkra town

Sri chakkra town guideline value

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

How the guideline value of Sri chakkra town has changed

Since the 2007 revision, the guideline value has seen significant changes. The 2007 revision set the value at Rs 85 per sq.ft, which increased to Rs 300 per sq.ft in the 2012 revision. However, the 2017 revision saw a decrease to Rs 201 per sq.ft. The values remained stable at Rs 300 per sq.ft during the 2023 and 2024 revisions, indicating no change between these two years. The register has no figures for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 253%. The 2017 revision marked a 49% increase from the previous 2012 value, while the transition from 2012 to 2017 saw a decrease of 33%. The substantial increase from 2007 to 2012 of 253% reflects a notable shift in the valuation during that period.

Guideline values in Ayakolathur

In Ayakolathur village, there are 15 streets under the Sriperumpudur SRO with a 2024 guideline value ranging from Rs 100 to Rs 700 per sq.ft, where the median value is Rs 200 per sq.ft. The guideline value of Sri chakkra town is above this median, reflecting its position within the village.

• Sri Arulmigu Sri Arunchala Nagar: Rs 500 per sq.ft (2024)
• ThiruVeedhiyamman Koil Street: Rs 200 per sq.ft (2024)
• Rajiv Gandhi Street: Rs 150 per sq.ft (2024)
• V.G.P.Chakkra town: Rs 300 per sq.ft (2024)
• Perumal Koil Street: Rs 200 per sq.ft (2024)
• Vinayagar Koil Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Sri chakkra town

For a 1,000 sq.ft plot at the current guideline value of Rs 300 per sq.ft, the total guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, making the total cost for these fees 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 more details.

Which Sub Registrar Office covers Sri chakkra town?

Sri chakkra town falls under the jurisdiction of 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 Ayakolathur

The guideline value is a critical factor in the registration process when buying or selling property in Ayakolathur. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable by the buyer.

When a property is sold, the guideline value serves as a reference point for calculating the applicable fees. Buyers should be aware that the fees are based on the higher of the guideline value or the sale price, ensuring that the registration reflects the true value of the transaction.

Frequently asked questions

What is the current guideline value of Sri chakkra town?

The current guideline value of Sri chakkra town 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 significantly from Rs 85 per sq.ft in 2007 to Rs 300 per sq.ft in 2012, then decreased to Rs 201 per sq.ft in 2017, before stabilizing at Rs 300 per sq.ft in 2023 and 2024.

What are the stamp duty and registration fees for property in Sri chakkra town?

For a property valued at Rs 3,00,000, the stamp duty would be Rs 21,000 and the registration fee would be Rs 6,000, totaling Rs 27,000.

Which Sub Registrar Office covers Sri chakkra town?

The Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone, covers Sri chakkra town.

What is the land classification for Sri chakkra town?

The land classification for Sri chakkra town is Residential Class I Type - I, indicating its designation for residential use.