Guideline Value for CHAVALI AVENUE

Chavali Avenue guideline value

The current guideline value of Chavali Avenue is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class III Type - II.

How the guideline value of Chavali Avenue has changed

The guideline value of Chavali Avenue has seen several revisions over the years. Starting from Rs 1,822 per sq.ft in 2002, it increased to Rs 2,024 per sq.ft in 2003, marking an 11% rise. By 2007, the value jumped significantly to Rs 2,365 per sq.ft, reflecting a 17% increase. The most substantial change occurred between 2007 and 2012, where the value surged to Rs 8,500 per sq.ft, representing a remarkable 259% increase. This value remained unchanged until the 2023 revision.

In 2023, the guideline value was set at Rs 8,500 per sq.ft, and in 2024, it was revised to Rs 9,300 per sq.ft, which is a 9% increase. Overall, from 2002 to 2024, the guideline value has increased by 410% for Chavali Avenue.

Guideline values in Mylapore

In Mylapore village, there are 883 streets under the Mylapore SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Chavali Avenue's 2024 figure above this median.

• Chellammal Thottam: Rs 3,300 per sq.ft (2024)
• Chandrabaugh Avenue 2nd Street: Rs 13,200 per sq.ft (2024)
• Chandrabaugh Avenue 1st Street: Rs 13,200 per sq.ft (2024)
• Chandrabaugh Avenue: Rs 13,200 per sq.ft (2024)
• Chandirasekaran Street: Rs 8,800 per sq.ft (2024)
• Chanda Sahib Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Chavali Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value would be Rs 93,00,000. The stamp duty at 7% would amount to Rs 6,51,000, while the registration fee at 2% would be Rs 1,86,000, making the total fees Rs 8,37,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chavali Avenue?

The Sub Registrar Office that covers Chavali Avenue is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process of property transactions in Mylapore. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it influences the overall costs associated with the transaction. Buyers should ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Frequently asked questions

What is the current guideline value of Chavali Avenue?

The current guideline value of Chavali Avenue is Rs 9,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,822 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, reflecting an overall increase of 410% over this period.

What is the stamp duty rate for properties in Chavali Avenue?

The stamp duty rate for properties in Chavali Avenue is 7% of the guideline value or sale price, whichever is higher.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification of Chavali Avenue?

Chavali Avenue is classified as Residential Class III Type - II, indicating its designation for residential purposes within the Mylapore SRO jurisdiction.