Guideline Value for Chakravarthy Avenue

Chakravarthy Avenue guideline value

The current guideline value of Chakravarthy Avenue in Malaipattu village is Rs 441 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Residential Special Type - I.

How the guideline value of Chakravarthy Avenue has changed

Over the years, the guideline value of Chakravarthy Avenue has seen several revisions. The 2012 revision set the value at Rs 440 per sq.ft, which then decreased to Rs 295 per sq.ft in the 2017 revision. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 441 per sq.ft. Notably, the 2023 and 2024 revisions maintained the same rate of Rs 441 per sq.ft, indicating no change.

The register has no figures for the years 2002, 2003, and 2007 for this street. Therefore, the changes in guideline values are specifically noted from 2012, 2017, and 2023 to 2024, with the overall change from 2012 to 2024 being 0%.

Guideline values in Malaipattu

Malaipattu village has a total of 36 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 150 to Rs 1,181 per sq.ft. The median value for these streets is Rs 200 per sq.ft, making Chakravarthy Avenue's 2024 figure of Rs 441 per sq.ft notably above this median.

• Bhavani Street: Rs 150 per sq.ft (2024)
• Bharathidhasan Street: Rs 150 per sq.ft (2024)
• Farm Scapes Layout: Rs 200 per sq.ft (2024)
• Arunthava Nagar: Rs 200 per sq.ft (2024)
• Gandhi Street: Rs 200 per sq.ft (2024)
• Ganesh Nagar: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in Chakravarthy Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 441 per sq.ft, the total guideline value amounts to Rs 4,41,000. The stamp duty at 7% would be Rs 30,870, and the registration fee at 2% would be Rs 8,820, bringing the total fees to Rs 39,690. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Chakravarthy Avenue?

The Sub Registrar Office that covers Chakravarthy 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 Malaipattu

The guideline value is a crucial factor in the registration process when buying or selling property in Malaipattu. It serves as a benchmark for calculating the stamp duty and registration fees that are required to be paid at the time of registration.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable fees. This ensures that the fees reflect the true value of the transaction.

Frequently asked questions

What is the current guideline value of Chakravarthy Avenue?

The current guideline value of Chakravarthy Avenue is Rs 441 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 440 per sq.ft in 2012 to Rs 295 per sq.ft in 2017, then increased to Rs 441 per sq.ft in both 2023 and 2024, showing no change between these two years.

What is the median guideline value for streets in Malaipattu?

The median guideline value for streets in Malaipattu is Rs 200 per sq.ft, with Chakravarthy Avenue's value of Rs 441 per sq.ft being above this median.

What are the stamp duty and registration fees for a property in Chakravarthy Avenue?

For a property valued at Rs 4,41,000, the stamp duty would be Rs 30,870 and the registration fee would be Rs 8,820, totaling Rs 39,690.

Which office handles registrations for Chakravarthy Avenue?

The registrations for Chakravarthy Avenue are handled by the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.