Guideline Value for Srinivasa Avenue

Srinivasa Avenue guideline value

The current guideline value of Srinivasa Avenue, located in Gooduvancheri village, is Rs 1,200 per sq.ft, effective from 1 July 2024. This property falls under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Srinivasa Avenue has changed

In the 2017 revision, the guideline value was set at Rs 804 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 1,200 per sq.ft. The current 2024 revision has maintained the same value of Rs 1,200 per sq.ft, indicating no change from the previous year. Notably, the overall change from 2017 to 2024 reflects an increase of 49%.

The register has no figures for the years 2002, 2003, 2007, and 2012 for this street. Therefore, the only revisions available are from 2017, 2023, and 2024, showing a significant increase of 49% from 2017 to 2023 and remaining stable from 2023 to 2024.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Srinivasa Avenue's 2024 figure is below this median, indicating that it is positioned at a lower price point compared to many other streets in the area.

• Srinivasa Nagar: Rs 1,500 per sq.ft (2024)
• Srinivasapuram: Rs 2,001 per sq.ft (2024)
• Srinu Prabhu Nagar: Rs 2,001 per sq.ft (2024)
• Sri Lakshmi Nagar: Rs 1,500 per sq.ft (2024)
• Sri Rajeswari Nagar: Rs 1,200 per sq.ft (2024)
• Sriram Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Srinivasa Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty at 7% would be Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total charges to Rs 1,08,000. Duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Srinivasa Avenue?

The Sub Registrar Office that covers Srinivasa Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in the registration process for property transactions in Gooduvancheri. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the sale price reflects the official valuation set by the authorities.

When buying or selling property, the guideline value influences the calculation of stamp duty and registration fees, which are mandatory costs incurred during the registration process. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price.

Frequently asked questions

What is the current guideline value of Srinivasa Avenue?

The current guideline value of Srinivasa Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained stable at Rs 1,200 per sq.ft from 2023 to 2024. However, it increased from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, marking a 49% increase over that period.

What are the stamp duty and registration fees for property in Srinivasa Avenue?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000, and the registration fee would be Rs 24,000, totaling Rs 1,08,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Gooduvancheri?

The Gooduvancheri Sub Registrar Office handles property registrations in Gooduvancheri. It is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the land classification for Srinivasa Avenue?

Srinivasa Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development and transactions.