Guideline Value for M.R. Avenue

M.R. Avenue guideline value

The current guideline value of M.R. Avenue, located in Chennerkuppam village under the Kunrathur SRO, is Rs 1,540 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - II land classification.

How the guideline value of M.R. Avenue has changed

The guideline value for M.R. Avenue has undergone several revisions over the years. In the 2007 revision, the guideline value was Rs 450 per sq.ft. This increased significantly to Rs 1,400 per sq.ft in 2012, marking a rise of 211%. However, in the 2017 revision, it decreased to Rs 938 per sq.ft, a decline of 33%. The value then rose to Rs 1,400 per sq.ft in 2023, reflecting an increase of 49%. The latest revision in 2024 shows a further increase to Rs 1,540 per sq.ft, which is a 10% rise from the previous year.

There are no figures available for the revisions in 2002 and 2003 for M.R. Avenue. Overall, from 2007 to 2024, the guideline value has increased by 242%.

Guideline values in Chennerkuppam

In Chennerkuppam, there are 74 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 6,895 per sq.ft. The median value is Rs 1,540 per sq.ft, which is equal to the current guideline value for M.R. Avenue.

• M.M. Koil Street (a) Mariamman Koil Street: Rs 1,540 per sq.ft (2024)
• Mettu Street: Rs 1,320 per sq.ft (2024)
• Masilamani Nagar: Rs 1,320 per sq.ft (2024)
• Narmatha Enclave: Rs 1,540 per sq.ft (2024)
• Narmatha Extension: Rs 1,540 per sq.ft (2024)
• Mariamman koil Street: Rs 1,540 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the total guideline value would be Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, bringing the total to Rs 1,38,600. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers M.R. Avenue?

The Sub Registrar Office that covers M.R. Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO here.

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

The guideline value is an essential factor in the registration process when buying or selling property in Chennerkuppam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

Frequently asked questions

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

The current guideline value of M.R. Avenue is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 1,540 per sq.ft in 2024, reflecting an overall increase of 242% over the years.

What are the stamp duty and registration fees for property in M.R. Avenue?

For a 1,000 sq.ft plot, the total guideline value is Rs 15,40,000. The stamp duty would be Rs 1,07,800, and the registration fee would be Rs 30,800, totaling Rs 1,38,600.

Which Sub Registrar Office covers M.R. Avenue?

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

What is the land classification of M.R. Avenue?

M.R. Avenue falls under the Residential Class I Type - II land classification.