Guideline Value

Corporate

Guideline Value for FRIENDS AVENUE

₹2750/sq.ft.

The guideline value for Friends Avenue in Medavakkam village (Chennai South Joint I SRO, Chennai zone) is Rs 2750 per sq.ft, effective 1 July 2024. It was Rs 2500 per sq.ft from 1 April 2023, a 10% change. The land classification is Commercial Class I Type - Iii. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Medavakkam

Village

Chennai South Joint I

SRO

Commercial Class I Type - III
History
Period Guideline Value
From 1-7-2024 ₹2750 /sq.ft.
From 1-4-2023 ₹2500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1675 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹1000 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Friends Avenue

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Friends Avenue guideline value

The current guideline value of Friends Avenue in Medavakkam village is Rs 2,750 per sq.ft, effective from 1 July 2024. This area falls under the Chennai South Joint I SRO and is classified as Commercial Class I Type - III.

How the guideline value of Friends Avenue has changed

The guideline value for Friends Avenue has seen several revisions over the years. The earliest recorded figure is from 2007 at Rs 1,000 per sq.ft, which increased to Rs 2,500 per sq.ft in 2012. However, this figure then decreased to Rs 1,675 per sq.ft in 2017. Following this, the value surged to Rs 2,500 per sq.ft in 2023 and further increased to Rs 2,750 per sq.ft in 2024, marking a 10% rise from the previous year.

In terms of percentage changes, the guideline value increased by 150% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 175%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,540 to Rs 7,500 per sq.ft, with a median value of Rs 2,200 per sq.ft. Friends Avenue's current guideline value is above this median.

Stamp duty and registration fee for property in Friends Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total fees together to Rs 2,47,500. 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 detailed calculations.

Which Sub Registrar Office covers Friends Avenue?

The Friends Avenue area is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

When buying or selling property in Medavakkam, the guideline value is used to determine the stamp duty and registration fees that need to be paid during the registration process. This value serves as a benchmark for the minimum price at which properties can be registered.

It is essential for buyers and sellers to be aware of the guideline value, as it can significantly impact the overall costs associated with property transactions. Ensuring compliance with these values helps in smooth processing at the registration office.

Frequently asked questions

What is the current guideline value of Friends Avenue?

The current guideline value of Friends Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 175%.

What is the land classification for Friends Avenue?

Friends Avenue is classified as Commercial Class I Type - III under the Chennai South Joint I SRO.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 27,50,000, with a stamp duty of Rs 1,92,500 and a registration fee of Rs 55,000, totaling Rs 2,47,500.

Which office handles registrations for Friends Avenue?

The Chennai South Joint I Sub Registrar Office handles registrations for Friends Avenue, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.