Guideline Value for Baskar Avenue

Baskar Avenue guideline value

The current guideline value of Baskar Avenue, located in Mummalpattu village under the Sunguvarchattram SRO, is Rs 200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Baskar Avenue has changed

The guideline value for Baskar Avenue has undergone several revisions over the years. Starting from the 2012 revision, the guideline value was set at Rs 200 per sq.ft. This remained unchanged until the 2017 revision, where it decreased to Rs 134 per sq.ft, marking a decline of 33%. However, from 2017 to the 2023 revision, the value increased significantly by 49%, bringing it back to Rs 200 per sq.ft. The 2024 revision also maintained this value, showing no change from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for Baskar Avenue. Therefore, the only relevant revisions are from 2012, 2017, 2023, and 2024, with the current guideline value standing at Rs 200 per sq.ft.

Guideline values in Mummalpattu

Baskar Avenue shares the same guideline value with other streets in Mummalpattu. The current guideline value for other streets in Mummalpattu is as follows:

• Kulakkarai Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Baskar Avenue

For a 1,000 sq.ft plot at the current rate of Rs 200 per sq.ft, the guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total to Rs 18,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Baskar Avenue?

The Sub Registrar Office that covers Baskar Avenue is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Mummalpattu. It serves as a benchmark for determining the stamp duty and registration fees applicable during the transaction. The higher of the guideline value and the sale price is used to calculate these fees.

When registering a property, buyers and sellers must be aware of the current guideline value to ensure they are prepared for the associated costs. Understanding how the guideline value is determined can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Baskar Avenue?

The current guideline value of Baskar Avenue is Rs 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 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then back to Rs 200 per sq.ft in 2023 and 2024.

What is the registration office for Baskar Avenue?

The registration office for Baskar Avenue is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.

How is stamp duty calculated for property in Baskar Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For a property valued at Rs 2,00,000, the stamp duty would be Rs 14,000 at 7%.

Are there other streets in Mummalpattu with the same guideline value?

Yes, other streets in Mummalpattu, such as Kulakkarai Street, also have a guideline value of Rs 200 per sq.ft as of 2024.