Guideline Value for EXPRESS AVENUE

Express Avenue guideline value

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

How the guideline value of Express Avenue has changed

The guideline value for Express Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 400 per sq.ft, which remained unchanged in the 2017 revision. However, in 2017, the value was Rs 268 per sq.ft, showing a decrease of 33% from the previous figure. The 2023 revision also maintained the value at Rs 400 per sq.ft, and the 2024 revision has kept it the same at Rs 400 per sq.ft, indicating no change from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has remained at Rs 400 per sq.ft.

Between the revisions, the most significant change occurred from 2017 to 2023, where the value increased by 49%. Notably, there are no figures available for Express Avenue in the revisions from 2002, 2003, and 2007, as the register has no figure for this street in it.

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. The median value for these streets is Rs 500 per sq.ft, which means that the guideline value for Express Avenue is below this median.

• Gracy Garden: Rs 500 per sq.ft (2024)
• Green City: Rs 400 per sq.ft (2024)
• G.S.T Brithavanam Co-Op Nagar: Rs 800 per sq.ft (2024)
• Chennai Avenue Phase -VI: Rs 400 per sq.ft (2024)
• Chennai Avenue Phase -V: Rs 400 per sq.ft (2024)
• Chennai Avenue Phase IV: Rs 400 per sq.ft (2024)

Stamp duty and registration fee for property in Express Avenue

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

Which Sub Registrar Office covers Express Avenue?

The Sub Registrar Office that covers Express Avenue is the Chengleput Joint II Sub Registrar Office, 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 plays a crucial role in the registration process when buying or selling property in Mamandoor. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is considered to ensure that the transaction is recorded accurately. This helps in maintaining transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Express Avenue?

The current guideline value of Express Avenue in Mamandoor village is Rs 400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Express Avenue has remained at Rs 400 per sq.ft since 2012, with a significant increase of 49% from 2017 to 2023. There were no figures available for the years 2002, 2003, and 2007.

What is the median guideline value for streets in Mamandoor?

The median guideline value for streets in Mamandoor under the Chengleput Joint II SRO is Rs 500 per sq.ft, which is above the current value of Express Avenue.

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

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 28,000 and the registration fee would be Rs 8,000, totaling Rs 36,000.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles the registration of properties in Express Avenue.