Guideline Value for Srirangam Avenue

Srirangam Avenue guideline value

The current guideline value of Srirangam Avenue is Rs 15,000 per sq.ft, effective from 1 July 2024. This street is located in Egmore village and falls under the Periamet SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Srirangam Avenue has changed

Looking at the revisions for Srirangam Avenue, the register has no figure for the years 2023, 2017, 2012, 2007, 2003, and 2002. The most recent revision in 2024 shows a guideline value of Rs 15,000 per sq.ft.

There are no changes between the revisions listed above. The only figure available is from the 2024 revision, which indicates that Srirangam Avenue has a higher guideline value compared to previous years where no figures were recorded.

Guideline values in Egmore

In Egmore, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft, with a median of Rs 7,100 per sq.ft. Srirangam Avenue's 2024 figure of Rs 15,000 per sq.ft is above this median.

• Srinivasa Pillai salai: Rs 7,100 per sq.ft (2024)
• Srinivasa Perumal Street: Rs 7,100 per sq.ft (2024)
• Srinivasa Nagar street(Two Hills): Rs 3,900 per sq.ft (2024)
• Stanley Nagar: Rs 2,800 per sq.ft (2024)
• Subbaraya Gramani street: Rs 7,100 per sq.ft (2024)
• Subbarayan 2nd lane: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Srirangam Avenue

For a 1,000 sq.ft plot at the current rate of Rs 15,000 per sq.ft, the guideline value would be Rs 1,50,00,000. The stamp duty at 7% would be Rs 10,50,000, and the registration fee at 2% would be Rs 3,00,000, totaling Rs 13,50,000. 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 further assistance.

Which Sub Registrar Office covers Srirangam Avenue?

The Sub Registrar Office that covers Srirangam Avenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. To find your SRO, visit find your SRO.

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

When buying or selling property in Egmore, the guideline value is crucial as it determines the stamp duty and registration fees applicable to the transaction. The guideline value serves as a benchmark for the minimum price at which a property can be registered.

It is essential to ensure that the sale price of the property meets or exceeds the guideline value, as the higher amount will be used for calculating the stamp duty and registration fees. This ensures compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Srirangam Avenue?

The current guideline value of Srirangam Avenue is Rs 15,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained unlisted in the register for the years 2023, 2017, 2012, 2007, 2003, and 2002. The only available figure is from the 2024 revision, which is Rs 15,000 per sq.ft.

What are the guideline values of other streets in Egmore?

Other streets in Egmore have varying guideline values. For example, Srinivasa Pillai salai and Srinivasa Perumal Street both have a value of Rs 7,100 per sq.ft, while Stanley Nagar has a value of Rs 2,800 per sq.ft.

How is stamp duty calculated for properties in Srirangam Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 1,50,00,000, the stamp duty would be Rs 10,50,000 at a rate of 7%.

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

The Sub Registrar Office for Srirangam Avenue is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find more information by visiting the provided link.