Guideline Value for M.A.V. Rajapandiyan Avenue

M.A.V. Rajapandiyan Avenue guideline value

The current guideline value of M.A.V. Rajapandiyan Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Rajakilpakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of M.A.V. Rajapandiyan Avenue has changed

The guideline value of M.A.V. Rajapandiyan Avenue has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,500 per sq.ft. This was followed by a decrease to Rs 1,675 per sq.ft in 2017. In 2023, the value increased to Rs 2,500 per sq.ft, and the latest revision in 2024 has set the value at Rs 2,700 per sq.ft, reflecting an increase of 8% from the previous year.

From 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been an increase of 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value in this village is Rs 2,150 per sq.ft, making the 2024 figure for M.A.V. Rajapandiyan Avenue above the median.

• M.A.V. Rajapandian Avenue EXt (Rajendran Street): Rs 2,700 per sq.ft (2024)
• Masoothy Colony Main Road: Rs 2,150 per sq.ft (2024)
• Masoothy Colony Kaveri Street: Rs 2,150 per sq.ft (2024)
• Masoothy Colony 5th Street: Rs 2,150 per sq.ft (2024)
• Masoothy Colony 4th Street: Rs 2,150 per sq.ft (2024)
• Masoothy Colony 3rd Street: Rs 2,150 per sq.ft (2024)

Stamp duty and registration fee for property in M.A.V. Rajapandiyan Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, making the total cost for these fees Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.A.V. Rajapandiyan Avenue?

The M.A.V. Rajapandiyan Avenue is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Rajakilpakkam. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated fairly based on the official rates set by the government.

It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process. This helps in ensuring that the property is registered at the correct value, which is vital for legal and financial purposes.

Frequently asked questions

What is the current guideline value of M.A.V. Rajapandiyan Avenue?

The current guideline value of M.A.V. Rajapandiyan Avenue is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2023 to Rs 2,700 per sq.ft in 2024, marking an 8% increase. It was Rs 1,675 per sq.ft in 2017 and Rs 2,500 per sq.ft in 2012.

What is the land classification for M.A.V. Rajapandiyan Avenue?

The land classification for M.A.V. Rajapandiyan Avenue is Residential Special Type - I, indicating its designated use for residential purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp to Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is the guideline value used in property transactions?

The guideline value is used to calculate the stamp duty and registration fees during property transactions. It ensures that these costs are based on the official rates set by the government, providing a fair assessment for both buyers and sellers.