Guideline Value for Srinivasa Avenue

Srinivasa Avenue guideline value

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

How the guideline value of Srinivasa Avenue has changed

Over the years, the guideline value for Srinivasa Avenue has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft, marking a 33% drop. However, by the 2023 revision, the value returned to Rs 200 per sq.ft, and it has remained the same through the 2024 revision, indicating a 49% increase from the 2017 figure but no overall change from the 2012 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. As of the latest revision in 2024, the guideline value stands at Rs 200 per sq.ft, consistent with the previous year's figure.

Guideline values in Uoonamali

In Uoonamali, there are 12 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 200 to Rs 701 per sq.ft, with a median value of Rs 200 per sq.ft. Srinivasa Avenue's 2024 figure aligns with this median value.

• Sri Venkateshwara Nagar Phase-I: Rs 600 per sq.ft (2024)
• Sundar Avenue: Rs 200 per sq.ft (2024)
• Thenral Nagar: Rs 200 per sq.ft (2024)
• Saravana Nagar: Rs 701 per sq.ft (2024)
• Ram Nagar: Rs 200 per sq.ft (2024)
• Vetrivel Nagar: Rs 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 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total fees together to Rs 18,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, 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 Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Uoonamali. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that both parties are aware of the official value of the property being transacted.

When a property is registered, the guideline value helps determine the applicable taxes. Buyers and sellers must consider this value to ensure compliance with local regulations and to avoid any potential disputes during the registration process.

Frequently asked questions

What is the current guideline value of Srinivasa Avenue?

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

How has the guideline value changed over the years?

The guideline value has seen revisions over the years, with the most recent being Rs 200 per sq.ft in both 2023 and 2024. It was Rs 134 per sq.ft in 2017 and Rs 200 per sq.ft in 2012.

What is the land classification for Srinivasa Avenue?

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

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

The Sub Registrar Office for Srinivasa Avenue is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Uoonamali?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,00,000 would incur a stamp duty of Rs 14,000 at a rate of 7%.