Guideline Value for B.M.Avenue

B.M.Avenue guideline value

The current guideline value of B.M.Avenue in Mudichur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This area falls under the Padappai SRO and is classified as Residential Special Type - I.

How the guideline value of B.M.Avenue has changed

The guideline value for B.M.Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which then decreased to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,000 per sq.ft in 2023, and the latest revision in 2024 has brought it to Rs 2,200 per sq.ft. The changes from 2012 to 2024 show an overall increase of 10%.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2023 to 2024 represents a 10% increase. It is important to note that there are no figures available for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Mudichur

Mudichur has a total of 135 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 880 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for B.M.Avenue.

• Bharathiyar Street: Rs 1,210 per sq.ft (2024)
• Captain Sasikumar Nagar: Rs 2,200 per sq.ft (2024)
• Beemeswarar Nagar: Rs 3,630 per sq.ft (2024)
• Chitra Avenue: Rs 1,760 per sq.ft (2024)
• Bangaru Radhakrishnan Street: Rs 2,200 per sq.ft (2024)
• Co-Operative Colony: Rs 3,630 per sq.ft (2024)

Stamp duty and registration fee for property in B.M.Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total fees to Rs 1,98,000. 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 precise calculations based on your property.

Which Sub Registrar Office covers B.M.Avenue?

B.M.Avenue is covered by the Padappai Sub Registrar Office located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mudichur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both the buyer and seller are aware of the financial obligations associated with the transaction.

Frequently asked questions

What is the current guideline value of B.M.Avenue?

The current guideline value of B.M.Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification of B.M.Avenue?

B.M.Avenue is classified as Residential Special Type - I.

Where can I find the registration office for B.M.Avenue?

The registration office for B.M.Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is stamp duty calculated for properties in Mudichur?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at 7%.