Guideline Value for ETR Avenue

ETR Avenue guideline value

The current guideline value of ETR Avenue in Molachoor village is Rs 1,200 per sq.ft, effective from 1 July 2024. This street falls under the Sunguvarchattram SRO and is classified as Mixed Type - I land.

How the guideline value of ETR Avenue has changed

The guideline value for ETR Avenue has seen several revisions over the years. In the 2012 revision, the value was set at Rs 1,200 per sq.ft. This remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly by 49%, bringing it back to Rs 1,200 per sq.ft in 2023. The 2024 revision has maintained this figure, showing no change from the previous year.

Additionally, it is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for ETR Avenue. Overall, from 2012 to 2024, the guideline value has remained at Rs 1,200 per sq.ft, indicating stability in this period.

Guideline values in Molachoor

In Molachoor, there are 112 streets under the Sunguvarchattram SRO that carry a 2024 guideline value ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft, placing ETR Avenue's 2024 figure above this median.

• Eswar Avenue: Rs 605 per sq.ft (2024)
• Fathima Nagar: Rs 600 per sq.ft (2024)
• Elango Street: Rs 600 per sq.ft (2024)
• Gandhi Street: Rs 600 per sq.ft (2024)
• Dream Land Nagar: Rs 605 per sq.ft (2024)
• Domnic Nagar: Rs 605 per sq.ft (2024)

Stamp duty and registration fee for property in ETR Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000. Together, these fees would total Rs 1,08,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers ETR Avenue?

The Sub Registrar Office that covers ETR 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 details.

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

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

When a property is registered, the guideline value is considered to ensure that the transaction is in accordance with the prevailing rates set by the government. This helps in maintaining transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of ETR Avenue?

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

How has the guideline value changed over the years?

The guideline value for ETR Avenue has remained at Rs 1,200 per sq.ft from 2012 to 2024, with a drop to Rs 804 per sq.ft in 2017 and an increase back to Rs 1,200 per sq.ft in 2023.

What are the guideline values for other streets in Molachoor?

Other streets in Molachoor have varying guideline values, with figures ranging from Rs 300 to Rs 2,000 per sq.ft. The median value for these streets is Rs 600 per sq.ft.

What fees are associated with buying property in ETR Avenue?

When buying property in ETR Avenue, you will need to pay stamp duty at 7% and a registration fee at 2% based on the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for ETR Avenue located?

The Sub Registrar Office covering ETR Avenue is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.