Guideline Value for L.T. Avenue

L.T. Avenue guideline value

The current guideline value of L.T. Avenue in Moulivakkam village, under the Kunrathur SRO, is Rs 2,650 per sq.ft, effective from 1 July 2024. This area is classified as Mixed Special Type - I.

How the guideline value of L.T. Avenue has changed

The guideline value for L.T. Avenue has seen significant changes over the years. In 2003, the value was Rs 181 per sq.ft, which rose to Rs 750 per sq.ft in 2007, marking an increase of 314%. The value then jumped to Rs 2,400 per sq.ft in 2012, reflecting a 220% increase. However, it decreased to Rs 1,608 per sq.ft in 2017, a drop of 33%. The 2023 revision set the value at Rs 2,400 per sq.ft, which then increased to the current value of Rs 2,650 per sq.ft in 2024, a rise of 10%.

Overall, from 2003 to 2024, the guideline value has increased by 1364%. Notably, there is no figure available for L.T. Avenue in the 2002 revision.

Guideline values in Moulivakkam

In Moulivakkam, there are 44 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,000 to Rs 3,900 per sq.ft. The median guideline value for these streets is Rs 2,450 per sq.ft, placing L.T. Avenue's value above this median.

• Madha Nagar: Rs 2,650 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 2,450 per sq.ft (2024)
• Lakshmi Nagar: Rs 2,650 per sq.ft (2024)
• Mangadu Road: Rs 2,650 per sq.ft (2024)
• Mawlieswarar Nagar: Rs 2,650 per sq.ft (2024)
• Mettu Street: Rs 2,450 per sq.ft (2024)

Stamp duty and registration fee for property in L.T. Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,650 per sq.ft, the total guideline value amounts to Rs 26,50,000. The stamp duty at 7% would be Rs 1,85,500, and the registration fee at 2% would be Rs 53,000, bringing the total fees to Rs 2,38,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers L.T. Avenue?

The L.T. Avenue falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in property transactions in Moulivakkam, as it determines the minimum value at which a property can be registered. When buying or selling property, this value is used to calculate the stamp duty and registration fees that must be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any discrepancies during the transaction process.

Frequently asked questions

What is the current guideline value of L.T. Avenue?

The current guideline value of L.T. Avenue is Rs 2,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 181 per sq.ft in 2003 to Rs 2,650 per sq.ft in 2024, reflecting an overall increase of 1364% over this period.

What are the stamp duty and registration fees for property in L.T. Avenue?

For a property valued at Rs 26,50,000, the stamp duty would be Rs 1,85,500 and the registration fee would be Rs 53,000, totaling Rs 2,38,500.

Which Sub Registrar Office covers L.T. Avenue?

The Kunrathur Sub Registrar Office covers L.T. Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of L.T. Avenue?

L.T. Avenue is classified as Mixed Special Type - I, which is relevant for understanding the zoning and usage regulations in the area.