Guideline Value for Enfield Avenue 3rd Street

Enfield Avenue 3rd Street guideline value

The current guideline value of Enfield Avenue 3rd 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 3rd Street has changed

In the 2017 revision, the guideline value was Rs 2,345 per sq.ft. This figure increased to Rs 3,500 per sq.ft in the 2023 revision, marking a substantial change of 49%. The latest 2024 revision has further increased the guideline value to Rs 3,850 per sq.ft, which is a 10% rise 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 years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Enfield Avenue 3rd Street is above this median.

• Enfield Avenue 3rd Cross Street: Rs 3,850 per sq.ft (2024)
• Enfield Avenue /Ambedkar Salai: Rs 3,850 per sq.ft (2024)
• Enfield Avenue 2nd Street: Rs 3,850 per sq.ft (2024)
• Enfield Avenue /Mylai Kapaleeswarar Colony 3rd Street: Rs 3,850 per sq.ft (2024)
• Enfield Avenue 2nd Cross Street: Rs 3,850 per sq.ft (2024)
• Enfield Avenue/Periyar Nagar Extension: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Enfield Avenue 3rd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value would be 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, making the total charges 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. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Enfield Avenue 3rd Street?

The Sub Registrar Office that covers Enfield Avenue 3rd Street is 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 plays a crucial role during the registration process when buying or selling property in Madipakkam-1. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that these charges are based on the official valuation set by the government.

When a property is sold, the guideline value helps in establishing a transparent and standardized price for the transaction. This ensures that both buyers and sellers are aware of the financial implications involved in the registration process.

Frequently asked questions

What is the current guideline value of Enfield Avenue 3rd Street?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,850 per sq.ft in 2024, representing an overall increase of 64%.

What is the land classification for Enfield Avenue 3rd Street?

Enfield Avenue 3rd Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for a property here?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Which office handles the registration for Enfield Avenue 3rd Street?

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