Guideline Value for Kathiravan Avenue

Kathiravan Avenue guideline value

The current guideline value of Kathiravan Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Madavilagam village, under the Poonamallee SRO, and is classified as Residential Class I Type - I.

How the guideline value of Kathiravan Avenue has changed

The guideline value for Kathiravan Avenue has seen several revisions over the years. The earliest recorded figure is from 2007, when the value was Rs 250 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, reflecting a 300% rise. However, it dropped to Rs 670 per sq.ft in 2017, a decrease of 33%. The value then increased to Rs 1,000 per sq.ft in 2023, followed by the current value of Rs 1,100 per sq.ft in 2024, marking a 10% increase from the previous year.

Between 2017 and 2023, the guideline value increased by 49%. Overall, from 2007 to 2024, the guideline value has risen by 340%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madavilagam

In Madavilagam, there are 37 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 660 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, which matches the current guideline value of Kathiravan Avenue.

• Kundumedu Kundumedu colony 37,59,46: Rs 1,100 per sq.ft (2024)
• Lakshmi Nagar: Rs 1,100 per sq.ft (2024)
• Madavilagam arijana colony 108: Rs 660 per sq.ft (2024)
• Madavilagam arijana colony 108/1: Rs 660 per sq.ft (2024)
• Madavilagam arijana colony 108/3: Rs 660 per sq.ft (2024)
• Madavilagam arijana colony 108/4: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Kathiravan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kathiravan Avenue?

Kathiravan Avenue falls under the jurisdiction of the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Madavilagam. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the property registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is used to determine the minimum value at which the property can be registered. This ensures that all transactions are recorded at a fair value, reflecting the current market conditions as per the government's assessment.

Frequently asked questions

What is the current guideline value of Kathiravan Avenue?

The current guideline value of Kathiravan Avenue is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

What is the median guideline value in Madavilagam?

The median guideline value for the 37 streets in Madavilagam under the Poonamallee SRO is Rs 1,100 per sq.ft.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For example, for a property valued at Rs 11,00,000, the total fees would amount to Rs 99,000.

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.