Guideline Value for CHENNAI AVENUE PHASE -I

Chennai Avenue Phase -I guideline value

The current guideline value of Chennai Avenue Phase -I is Rs 400 per sq.ft, effective from 1 July 2024. This property is located in Mamandoor village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - I.

How the guideline value of Chennai Avenue Phase -I has changed

Looking at the revisions, the guideline value for Chennai Avenue Phase -I has seen several changes over the years. In 2012, the value was set at Rs 400 per sq.ft, which remained unchanged until the 2017 revision when it was reduced to Rs 268 per sq.ft. This was a decrease of 33%. However, by the 2023 revision, the value returned to Rs 400 per sq.ft, and it has remained at that level through the 2024 revision, showing no change from the previous year.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to its earlier figure. Overall, from 2012 to 2024, the guideline value has remained the same at Rs 400 per sq.ft, indicating stability in the recent years.

Guideline values in Mamandoor

In Mamandoor, there are 41 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 1,200 per sq.ft, with a median value of Rs 500 per sq.ft. The guideline value for Chennai Avenue Phase -I is below this median.

• Chennai Avenue: Rs 400 per sq.ft (2024)
• Chennai Avenue Phase II: Rs 400 per sq.ft (2024)
• Chennai Avenue Phase -III: Rs 400 per sq.ft (2024)
• Chennai Avenue Phase IV: Rs 400 per sq.ft (2024)
• Chennai Avenue Phase -V: Rs 400 per sq.ft (2024)
• Chennai Avenue Phase -VI: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Chennai Avenue Phase -I

For a 1,000 sq.ft plot at the current guideline value of Rs 400 per sq.ft, the total guideline value amounts to Rs 4,00,000. The stamp duty charged at 7% would be Rs 28,000, and the registration fee at 2% would be Rs 8,000, totaling Rs 36,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chennai Avenue Phase -I?

The Chengleput Joint II Sub Registrar Office covers Chennai Avenue Phase -I, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Mamandoor. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the registration reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Chennai Avenue Phase -I?

The current guideline value of Chennai Avenue Phase -I is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen fluctuations, with the most recent revisions showing a consistent value of Rs 400 per sq.ft since 2012, except for a dip to Rs 268 per sq.ft in 2017.

What is the registration office for Chennai Avenue Phase -I?

The registration office for Chennai Avenue Phase -I is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What are the stamp duty and registration fees for properties in this area?

Stamp duty is charged at 7% and the registration fee at 2% based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 400 per sq.ft incurs a total fee of Rs 36,000.

How does the guideline value affect property transactions?

The guideline value is used to determine the stamp duty and registration fees when buying or selling property. It ensures that the fees reflect the true value of the property being registered.