Guideline Value for Engineering Avenue

Engineering Avenue guideline value

The current guideline value of Engineering Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Moovarasampattu village under the Alandur SRO, classified as Residential Class I Type - I.

How the guideline value of Engineering Avenue has changed

The guideline value for Engineering Avenue has seen several revisions over the years. In 2002, the value was Rs 200 per sq.ft, which increased to Rs 220 per sq.ft in 2003. Subsequent revisions showed a significant rise, with the value reaching Rs 700 per sq.ft in 2007, and then jumping to Rs 3,000 per sq.ft in 2012. However, it decreased to Rs 2,010 per sq.ft in 2017, before rising again to Rs 3,000 per sq.ft in 2023.

The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, marking a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 1550%, reflecting the changes in the area over the years.

Guideline values in Moovarasampattu

In Moovarasampattu, there are 68 streets under the Alandur SRO that carry a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median value is Rs 3,300 per sq.ft, placing Engineering Avenue at this median level.

• Dr. Kalaingar Street: Rs 1,700 per sq.ft (2024)
• Ganesh Street CrossBALAIYA NAGAR: Rs 3,300 per sq.ft (2024)
• Ganesh Street Main(BALAIYA NAGAR): Rs 3,300 per sq.ft (2024)
• Ganga Nagar Extension: Rs 3,300 per sq.ft (2024)
• Ganga Nagar Main: Rs 3,300 per sq.ft (2024)
• Deffence colony 1st Street: Rs 3,900 per sq.ft (2024)

Stamp duty and registration fee for property in Engineering Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, resulting in a total of Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Engineering Avenue?

The Sub Registrar Office that covers Engineering Avenue is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. For further details, you can find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Moovarasampattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the registration process.

When buying or selling property, the guideline value ensures that the transaction is documented at a fair value, which helps maintain transparency in real estate dealings. Buyers and sellers should be aware of this value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Engineering Avenue?

The current guideline value of Engineering Avenue is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 200 per sq.ft in 2002 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 1550% over the years.

What are the stamp duty and registration fees for properties on Engineering Avenue?

For a property measuring 1,000 sq.ft, the guideline value is Rs 33,00,000. The stamp duty would be Rs 2,31,000, and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Engineering Avenue?

The Alandur Sub Registrar Office covers Engineering Avenue, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

Where can I find more information about other streets in Moovarasampattu?

For information about other streets in Moovarasampattu, you can refer to the respective guideline values listed for each street, such as Dr. Kalaingar Street and Ganesh Street.