Guideline Value for Aathilakshmi Avenue

Aathilakshmi Avenue guideline value

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

How the guideline value of Aathilakshmi Avenue has changed

Over the years, the guideline value of Aathilakshmi Avenue has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged in the 2023 revision. However, from 2017 to 2023, there was a significant increase of 49%, with the 2017 revision recording a value of Rs 804 per sq.ft. It is important to note that there are no figures available for the revisions in 2007, 2003, and 2002 for this street.

The guideline value remained stable at Rs 1,200 per sq.ft from the 2023 revision to the 2024 revision, indicating a 0% change. The 2012 revision also had the same value, showing a consistent figure for the street in recent years.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, placing Aathilakshmi Avenue at the median value for 2024.

• Abi Krishna Nagar Phase-Ii: Rs 1,300 per sq.ft (2024)
• Akchaya Nagar: Rs 1,200 per sq.ft (2024)
• Ambethkar Nagar: Rs 1,200 per sq.ft (2024)
• Ambujam Nagar: Rs 1,200 per sq.ft (2024)
• Ammakannu Nagar: Rs 1,200 per sq.ft (2024)
• Amma Nagar: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Aathilakshmi Avenue

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

Which Sub Registrar Office covers Aathilakshmi Avenue?

The Aathilakshmi Avenue falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical component in the registration process when buying or selling property in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that they are calculated based on the official valuation rather than the sale price alone.

When a property is registered, the guideline value helps establish a fair and standardized approach to property transactions. Buyers and sellers must be aware of the current guideline value to accurately assess their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Aathilakshmi Avenue?

The current guideline value of Aathilakshmi 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 at Rs 1,200 per sq.ft since the 2012 revision, with a significant increase of 49% from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023. There was no change from 2023 to 2024.

What is the classification of Aathilakshmi Avenue?

Aathilakshmi Avenue is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

What are the registration fees for property in Aathilakshmi Avenue?

The registration fees for property transactions are based on the guideline value. For a property valued at Rs 12,00,000, the total stamp duty and registration fees would amount to Rs 1,08,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.