Guideline Value for M.K.V AVENUE

M.K.V Avenue guideline value

The current guideline value of M.K.V Avenue in Marutham village is Rs 150 per sq.ft, effective from 1 July 2024. This property falls under the jurisdiction of the Walajabad Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of M.K.V Avenue has changed

Over the years, the guideline value of M.K.V Avenue has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged in the 2023 revision. The 2017 revision saw a decrease to Rs 100 per sq.ft, which was a 33% reduction from the previous figure. However, from 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 150 per sq.ft.

The most recent 2024 revision has maintained the guideline value at Rs 150 per sq.ft, showing no change from the 2023 figure. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Marutham

In Marutham, there are eight streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 300 per sq.ft. The median value of these streets is Rs 150 per sq.ft, making M.K.V Avenue's current guideline value equal to this median.

• Sharon Nagar: Rs 150 per sq.ft (2024)
• Sri Madhu Nagar Phase -I: Rs 150 per sq.ft (2024)
• Sumathi Ammal Nagar: Rs 300 per sq.ft (2024)
• Thirupathy Nagar: Rs 100 per sq.ft (2024)
• Thirupathy Nagar Extension: Rs 300 per sq.ft (2024)
• Unnamed Layout: Rs 300 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000. The stamp duty, calculated at 7%, would amount to Rs 10,500, and the registration fee at 2% would be Rs 3,000, bringing the total fees to Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers M.K.V Avenue?

The M.K.V Avenue is covered by the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Marutham. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official register.

When buying or selling property, the guideline value is essential for calculating the applicable stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

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

The current guideline value of M.K.V Avenue is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft from 2012 to 2024, with a decrease to Rs 100 per sq.ft in 2017 and an increase back to Rs 150 per sq.ft in 2023.

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

Other streets in Marutham include Sharon Nagar and Sri Madhu Nagar Phase -I, both at Rs 150 per sq.ft, while Sumathi Ammal Nagar and Thirupathy Nagar Extension are at Rs 300 per sq.ft.

How is stamp duty calculated for properties in M.K.V Avenue?

Stamp duty for properties in M.K.V Avenue is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 10,500.

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

The Sub Registrar Office covering M.K.V Avenue is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find more details about your SRO online.