Guideline Value for Srinivasa Avenue

Srinivasa Avenue guideline value

The current guideline value of Srinivasa Avenue in Sothupuruampedu village, under the Redhills SRO, is Rs 330 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Srinivasa Avenue has changed

The guideline value for Srinivasa Avenue has undergone several revisions over the years. Starting from the 2017 revision, the value was Rs 201 per sq.ft. This increased significantly to Rs 300 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision saw another increase to Rs 330 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Sothupuruampedu

In Sothupuruampedu, there are 15 streets under the Redhills SRO that carry a 2024 guideline value ranging from Rs 110 to Rs 500 per sq.ft. The median guideline value in this area is Rs 220 per sq.ft, placing Srinivasa Avenue's 2024 figure above that median.

• Sri Krishna Avenue: Rs 220 per sq.ft (2024)
• Sri Balaji Nagar: Rs 220 per sq.ft (2024)
• Selva Kumaran Nagar-1: Rs 500 per sq.ft (2024)
• Thiruvalluvar Street: Rs 220 per sq.ft (2024)
• Sai Nagar: Rs 220 per sq.ft (2024)
• Muthialamman Koil Street: Rs 220 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 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, bringing the total fees to Rs 29,700. 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 Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Sothupuruampedu. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property in the area. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Srinivasa Avenue?

The current guideline value of Srinivasa Avenue is Rs 330 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased by 64%, moving from Rs 201 per sq.ft to Rs 330 per sq.ft in 2024.

What was the guideline value in 2023?

The guideline value of Srinivasa Avenue in 2023 was Rs 300 per sq.ft.

What are the registration fees for a property in Srinivasa Avenue?

For a property valued at Rs 3,30,000, the stamp duty would be Rs 23,100 and the registration fee would be Rs 6,600, totaling Rs 29,700.

Which office handles property registrations for Srinivasa Avenue?

The Redhills Sub Registrar Office handles property registrations for Srinivasa Avenue, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.