Guideline Value for Enfield Avenue 2nd Street

Enfield Avenue 2nd Street guideline value

The current guideline value of Enfield Avenue 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village, under the Velacheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Enfield Avenue 2nd Street has changed

In the 2017 revision, the guideline value was Rs 2,345 per sq.ft. This increased to Rs 3,500 per sq.ft in the 2023 revision, marking a substantial rise of 49%. The most recent 2024 revision has set the value at Rs 3,850 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO, with guideline values ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value for the area is Rs 2,750 per sq.ft, placing Enfield Avenue 2nd Street's 2024 figure above this median.

• Enfield Avenue 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Enfield Avenue 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Enfield Avenue 1st Street: Rs 3,850 per sq.ft (2024)
• Enfield Avenue 3rd Street: Rs 3,850 per sq.ft (2024)
• Enfield Avenue 1st Cross Street: Rs 3,850 per sq.ft (2024)
• Enfield Avenue /Ambedkar Salai: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Enfield Avenue 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total cost for these fees to Rs 3,46,500. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Enfield Avenue 2nd Street?

The Enfield Avenue 2nd Street falls under the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering a property in Madipakkam-1. It determines the minimum value at which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, reflecting the current market conditions. This helps in maintaining transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Enfield Avenue 2nd Street?

The current guideline value of Enfield Avenue 2nd Street is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant increases, from Rs 2,345 per sq.ft in 2017 to Rs 3,850 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the land classification of Enfield Avenue 2nd Street?

Enfield Avenue 2nd Street is classified as Residential Class I Type - I, which indicates its suitability for residential purposes.

Where can I find the registration office for Enfield Avenue 2nd Street?

The registration office for Enfield Avenue 2nd Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, a property with a guideline value of Rs 38,50,000 would incur a stamp duty of Rs 2,69,500 at a rate of 7%.