Guideline Value for M.K Avenue

M.K Avenue guideline value

The current guideline value of M.K Avenue in Puthur village is Rs 770 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Class I Type - I.

How the guideline value of M.K Avenue has changed

The guideline value for M.K Avenue has undergone several revisions over the years. In 2012, the value was Rs 700 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 469 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 700 per sq.ft, marking a 49% rise. The latest revision in 2024 set the guideline value at Rs 770 per sq.ft, reflecting a 10% increase from the previous year.

There are no recorded figures for M.K Avenue in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 330 to Rs 4,600 per sq.ft. The median guideline value in the village is Rs 1,100 per sq.ft, placing M.K Avenue's 2024 figure below this median.

• Mohan Avenue Phase I: Rs 550 per sq.ft (2024)
• M.S Garden: Rs 550 per sq.ft (2024)
• Murugan Avenue Phase I: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase II: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase III: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase IV: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in M.K Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, while the registration fee at 2% would be Rs 15,400. Therefore, the total cost for stamp duty and registration would be Rs 69,300. It is important to note that the 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 M.K Avenue?

The Sub Registrar Office that covers M.K Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Puthur

The guideline value plays a crucial role in property transactions in Puthur. It is used to determine the stamp duty and registration fees payable when a property is bought or sold. Buyers and sellers must consider this value as it directly impacts the overall cost of the transaction.

When registering a property, the guideline value serves as a benchmark for calculating the applicable duties and fees. It ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the current market.

Frequently asked questions

What is the current guideline value of M.K Avenue?

The current guideline value of M.K Avenue is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then back to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification of M.K Avenue?

M.K Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the other streets in Puthur with their guideline values?

Other streets in Puthur include Mohan Avenue Phase I and M.S Garden at Rs 550 per sq.ft, and several phases of Murugan Avenue at Rs 1,100 per sq.ft.

Where is the Sub Registrar Office for M.K Avenue located?

The Sub Registrar Office for M.K Avenue is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.