Guideline Value for Amaravathi Avenue

Amaravathi Avenue guideline value

The current guideline value of Amaravathi Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - II.

How the guideline value of Amaravathi Avenue has changed

The guideline value for Amaravathi Avenue has undergone several revisions since 2017. The 2017 revision set the value at Rs 2,010 per sq.ft, which increased to Rs 3,000 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 has further increased the value to Rs 3,300 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value range from Rs 1,650 to Rs 5,500 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, placing Amaravathi Avenue's 2024 figure above this median.

• Ambedkar (Dr) Salai, Periyar Nagar Main Road: Rs 3,850 per sq.ft (2024)
• Ambedkar (Dr) Street, Periyar Nagar: Rs 3,850 per sq.ft (2024)
• Ambedkar Road (Periyar Nagar Extn. Main Road): Rs 3,850 per sq.ft (2024)
• Ambedkar Salai: Rs 3,850 per sq.ft (2024)
• Ambedkar Salai, Enfield Avenue: Rs 3,850 per sq.ft (2024)
• Ambedkar Salai, Periyar Nagar Extn: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Amaravathi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, while the registration fee at 2% would be Rs 66,000, bringing the total charges to Rs 2,97,000. It is important to note that the 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 Amaravathi Avenue?

The Sub Registrar Office covering Amaravathi Avenue is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor during the registration of property transactions in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid, ensuring compliance with local regulations.

When buying or selling property, the guideline value helps establish a baseline for the transaction price. This ensures that all parties are aware of the minimum valuation set by the government, which aids in maintaining transparency in property dealings.

Frequently asked questions

What is the current guideline value of Amaravathi Avenue?

The current guideline value of Amaravathi Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,010 per sq.ft in 2017 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 64% over this period.

What are the other streets in Madipakkam-1 with their guideline values?

Other streets in Madipakkam-1 include Ambedkar (Dr) Salai, Periyar Nagar Main Road, Ambedkar (Dr) Street, Periyar Nagar, and several others, all with a guideline value of Rs 3,850 per sq.ft in 2024.

What is the registration fee for property in Amaravathi Avenue?

The registration fee for property in Amaravathi Avenue is 2% of the guideline value. For a 1,000 sq.ft plot, this would amount to Rs 66,000.

Where is the Sub Registrar Office for Amaravathi Avenue located?

The Velacheri Sub Registrar Office, which covers Amaravathi Avenue, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.