Guideline Value for M.A.V.Ramraja Avenue

M.A.V.Ramraja Avenue guideline value

The current guideline value of M.A.V.Ramraja Avenue is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is located in Perungalathur village under the Padappai SRO, classified as Commercial Class I Type - II.

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

The guideline value for M.A.V.Ramraja Avenue has undergone several revisions over the years. In 2007, the value was Rs 250 per sq.ft, which saw a significant increase to Rs 2,700 per sq.ft in 2012. However, it then decreased to Rs 1,809 per sq.ft in 2017. The 2023 revision set the value at Rs 2,700 per sq.ft, and the latest revision in 2024 has increased it to Rs 2,970 per sq.ft.

From 2017 to 2023, the guideline value increased by 49%, and from 2023 to 2024, it rose by 10%. Notably, the increase from 2007 to 2012 was a remarkable 980%, leading to an overall increase of 1088% from 2007 to 2024. The register has no figures for M.A.V.Ramraja Avenue for the years 2002 and 2003.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. M.A.V.Ramraja Avenue's guideline value is above this median.

• Masoothi Street: Rs 1,650 per sq.ft (2024)
• Medo Villas: Rs 3,960 per sq.ft (2024)
• Meenakshi Avenue: Rs 1,980 per sq.ft (2024)
• Meera Nagar: Rs 1,980 per sq.ft (2024)
• Maraimalai Adikal Street: Rs 2,310 per sq.ft (2024)
• MA.PO.SI. Street: Rs 1,980 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, bringing the total to Rs 2,67,300. It is important to note that 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 details.

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

The Sub Registrar Office that covers M.A.V.Ramraja Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Perungalathur, as it determines the minimum value at which properties can be registered. When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately.

During the registration process, the buyer must pay the applicable stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

The current guideline value of M.A.V.Ramraja Avenue is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 250 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, marking an overall increase of 1088% over the years.

What is the land classification of M.A.V.Ramraja Avenue?

M.A.V.Ramraja Avenue is classified as Commercial Class I Type - II, which influences its guideline value.

Where can I find the Sub Registrar Office for M.A.V.Ramraja Avenue?

The Sub Registrar Office for M.A.V.Ramraja Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in M.A.V.Ramraja Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 29,70,000, the stamp duty at 7% would be Rs 2,07,900.