Guideline Value for East Avenue Road

East Avenue Road guideline value

The current guideline value of East Avenue Road in Kodungaiyur village, under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from July 1, 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of East Avenue Road has changed

Looking at the revisions, the guideline value for East Avenue Road has changed significantly over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was reduced to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased by 49% to reach Rs 2,500 per sq.ft. The latest revision in 2024 has further increased this value to Rs 2,700 per sq.ft, marking an 8% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 8%.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that carry a 2024 guideline value, ranging from Rs 1,900 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,700 per sq.ft, which is equal to the current guideline value of East Avenue Road.

• Dr. Radhakrishnan Road 2nd Street: Rs 2,700 per sq.ft (2024)
• Dr. Radhakrishnan Road 1st Street: Rs 2,700 per sq.ft (2024)
• Elango Street: Rs 2,200 per sq.ft (2024)
• Dr. M.A.M. Ramasamy Nagar (Thiruvalluvar Salai): Rs 2,700 per sq.ft (2024)
• Dr. Karunanethi Street: Rs 2,200 per sq.ft (2024)
• Dr. Anna Salai: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in East Avenue Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty, charged at 7%, would be Rs 1,89,000, while the registration fee at 2% would be Rs 54,000. Together, these fees would total Rs 2,43,000. It is important to note that 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 East Avenue Road?

The Sub Registrar Office that covers East Avenue Road is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process when buying or selling property in Kodungaiyur. It serves as the minimum value at which properties can be registered, ensuring that both buyers and sellers have a clear understanding of the property’s worth as determined by the government.

When a property transaction occurs, the stamp duty and registration fees are calculated based on the guideline value. This ensures that the government receives the appropriate revenue from property transactions, maintaining transparency in the real estate market.

Frequently asked questions

What is the current guideline value of East Avenue Road?

The current guideline value of East Avenue Road is Rs 2,700 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, an increase of 8%. It was Rs 1,675 per sq.ft in 2017, showing a 49% increase to 2023.

What is the land classification for East Avenue Road?

East Avenue Road falls under the Residential Class I Type - I land classification.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot of 1,000 sq.ft at Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000.