Guideline Value for Sribalaji Avenue

Sribalaji Avenue guideline value

The current guideline value of Sribalaji Avenue, located in Mugappair village under the Konnur SRO, is Rs 7,100 per sq.ft as per the 2024 revision, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Sribalaji Avenue has changed

The guideline value for Sribalaji Avenue has undergone several revisions over the years. In the 2002 revision, the value was Rs 566 per sq.ft, which increased to Rs 622 per sq.ft in 2003. Following that, the value rose significantly to Rs 2,000 per sq.ft in 2007, marking an increase of 225%. The 2012 revision saw the value remaining at Rs 6,500 per sq.ft, which was a decrease of 33% from the previous revision. In 2017, the value increased to Rs 4,355 per sq.ft, and then in 2023, it further increased to Rs 6,500 per sq.ft. The current 2024 revision reflects an increase to Rs 7,100 per sq.ft, which is a 9% rise from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1154%. There are no figures available for the revisions of the years not listed in this register for Sribalaji Avenue.

Guideline values in Mugappair

Mugappair village has 224 streets under the Konnur SRO, with 2024 guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value is Rs 7,100 per sq.ft, which is equal to the current value for Sribalaji Avenue.

• Sparton Nagar: Rs 7,100 per sq.ft (2024)
• S.M. Narayanan Nagar: Rs 7,100 per sq.ft (2024)
• Srinivasa Nagar: Rs 5,500 per sq.ft (2024)
• Srinivasa Nagar Anna Street & 1st,2nd and 3rd Cross Street: Rs 5,500 per sq.ft (2024)
• Srinivasa Nagar Kamaraj Ist Cross and Extension: Rs 5,500 per sq.ft (2024)
• Srinivasa Nagar Sakthi Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Sribalaji Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000. Together, the total cost for stamp duty and registration fee would be Rs 6,39,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Sribalaji Avenue?

The Sub Registrar Office that covers Sribalaji Avenue is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Mugappair. It is used to determine the stamp duty and registration fees applicable during the registration process. Buyers and sellers must refer to the current guideline value to accurately calculate these costs.

When a property is registered, the guideline value is considered to ensure that the transaction is compliant with government regulations. This value helps in maintaining transparency and fairness in property transactions within the region.

Frequently asked questions

What is the current guideline value of Sribalaji Avenue?

The current guideline value of Sribalaji Avenue is Rs 7,100 per sq.ft as per the 2024 revision, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 566 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1154% over the years.

What are the other streets in Mugappair with similar guideline values?

Other streets in Mugappair with a guideline value of Rs 7,100 per sq.ft include Sparton Nagar and S.M. Narayanan Nagar. Several other streets have different values, such as Srinivasa Nagar at Rs 5,500 per sq.ft.

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

For a property valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 and the registration fee would be Rs 1,42,000, totaling Rs 6,39,000. These fees are based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Sribalaji Avenue?

The Sub Registrar Office for Sribalaji Avenue is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find more information by visiting the provided link.