Guideline Value for M.R.K AVENUE

M.R.K Avenue guideline value

The current guideline value of M.R.K Avenue is Rs 1,430 per sq.ft, effective from 1 July 2024. This street is located in Thirumazhisai village under the Poonamallee SRO, classified as Residential Special Type - II.

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

The guideline value for M.R.K Avenue has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,430 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 1,300 per sq.ft. Prior to that, the 2017 revision also recorded a value of Rs 1,300 per sq.ft, indicating no change during that period. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, M.R.K Avenue has seen a total increase of 10%. This consistent value from 2017 to 2023, followed by a significant rise in 2024, reflects the latest adjustments in the guideline values.

Guideline values in Thirumazhisai

In Thirumazhisai, there are 86 streets under the Poonamallee SRO, with the 2024 guideline values ranging from Rs 730 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,320 per sq.ft, placing M.R.K Avenue's 2024 figure above this median.

• Muthaal muthu raja 1st street: Rs 1,100 per sq.ft (2024)
• Muthuraja 2nd street: Rs 1,100 per sq.ft (2024)
• Muthuraja 3rd street: Rs 1,100 per sq.ft (2024)
• Melandai madaveethi thulukallamman koil sandhut: Rs 1,100 per sq.ft (2024)
• Nallaiththontheru: Rs 1,100 per sq.ft (2024)
• Masilamani Nagar: Rs 1,650 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,430 per sq.ft, the total guideline value amounts to Rs 14,30,000. The stamp duty at 7% would be Rs 1,00,100, and the registration fee at 2% would be Rs 28,600, totaling Rs 1,28,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers M.R.K Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during property registration in Thirumazhisai. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded at a fair value according to government standards.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. Buyers and sellers should be aware of these values to avoid any unexpected expenses during the registration process.

Frequently asked questions

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

The current guideline value of M.R.K Avenue is Rs 1,430 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen a total increase of 10% from Rs 1,300 per sq.ft in 2017 to Rs 1,430 per sq.ft in 2024. There was no change in value from 2017 to 2023.

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

M.R.K Avenue is classified as Residential Special Type - II, indicating its suitability for residential development.

Where is the Poonamallee Sub Registrar Office located?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. This office handles all registrations for properties in the area.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the guideline value. This ensures that the costs are based on the property's assessed value.