Guideline Value for J K AVENUE

J K Avenue guideline value

The current guideline value of J K Avenue, located in Morapakkam village under the Madurandakam SRO, is Rs 200 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of J K Avenue has changed

Over the years, the guideline value of J K Avenue has seen several revisions. The 2012 revision set the value at Rs 200 per sq.ft, which remained unchanged until the 2023 revision, where it was again Rs 200 per sq.ft. The 2017 revision recorded a lower value of Rs 134 per sq.ft, indicating a decrease of 33% from the 2012 figure. The guideline value has remained stable at Rs 200 per sq.ft from 2012 to 2024, showing a 0% change between the 2023 and 2024 revisions, and a significant increase of 49% from 2017 to 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for J K Avenue. The consistent value of Rs 200 per sq.ft in both the 2023 and 2024 revisions reflects the median value for the 12 streets in Morapakkam under the Madurandakam SRO, which range from Rs 100 to Rs 400 per sq.ft.

Guideline values in Morapakkam

In Morapakkam, the guideline values for 2024 range from Rs 100 to Rs 400 per sq.ft, with J K Avenue's value aligning with the median of Rs 200 per sq.ft. Below are the guideline values for other streets in Morapakkam:

• High Quality City: Rs 100 per sq.ft (2024)
• Krishna Avenue Extension-I: Rs 200 per sq.ft (2024)
• Krishna Avenue Ext - I: Rs 200 per sq.ft (2024)
• Krishna Nagar: Rs 200 per sq.ft (2024)
• Anandam Garden: Rs 200 per sq.ft (2024)
• Roja Nagar Part -I: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in J K Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 200 per sq.ft, the total guideline value amounts to Rs 2,00,000. The stamp duty at 7% would be Rs 14,000, and the registration fee at 2% would be Rs 4,000, bringing the total costs together to Rs 18,000. 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 J K Avenue?

The Sub Registrar Office that covers J K Avenue is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Morapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the guideline value is considered to ensure that the transaction is in line with the prevailing rates in the area. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of J K Avenue?

The current guideline value of J K Avenue is Rs 200 per sq.ft, effective from the 2024 revision starting 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has fluctuated, with a decrease to Rs 134 per sq.ft in 2017, before returning to Rs 200 per sq.ft in 2023 and remaining the same in 2024.

What are the stamp duty and registration fees for property in J K Avenue?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 200 per sq.ft, the total costs would be Rs 18,000.

Which office handles property registrations for J K Avenue?

The Madurandakam Sub Registrar Office handles property registrations for J K Avenue, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

What is the land classification for J K Avenue?

The land classification for J K Avenue is Residential Special Type - I, indicating its designated use for residential purposes.