Guideline Value

Corporate

Guideline Value for MAHARISHIR AVENUE EXTN

₹1650/sq.ft.

The guideline value for Maharishir Avenue Extn in Sivabootham village (Chennai South Joint I SRO, Chennai zone) is Rs 1650 per sq.ft, effective 1 July 2024. It was Rs 1500 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class I Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Sivabootham

Village

Chennai South Joint I

SRO

Residential Class I Type - I
History
Period Guideline Value
From 1-7-2024 ₹1650 /sq.ft.
From 1-4-2023 ₹1500 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1005 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹1500 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹200 /sq.ft.
From 1-4-2003 To 31-7-2007 N/A
From 1-4-2002 To 31-3-2003 N/A
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

Integrated Building For Offices Of The Commerrcial Taxes And Registrations Department ,fanepet Nandanam ,chennai -600 035
044-29510536
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Maharishir Avenue Extn

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Maharishir Avenue Extn guideline value

The current guideline value of Maharishir Avenue Extn is Rs 1,650 per sq.ft, effective from 1 July 2024. This property is located in Sivabootham village, under the Chennai South Joint I SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Maharishir Avenue Extn has changed

Over the years, the guideline value for Maharishir Avenue Extn has seen significant changes. The 2007 revision set the value at Rs 200 per sq.ft, which increased dramatically to Rs 1,500 per sq.ft in 2012, marking a rise of 650%. However, from 2012 to 2017, the value decreased to Rs 1,005 per sq.ft, reflecting a decline of 33%. The following revision in 2017 saw a substantial increase to Rs 1,500 per sq.ft in 2023, a rise of 49%. The most recent revision in 2024 has further increased the guideline value to Rs 1,650 per sq.ft, a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Sivabootham

In Sivabootham village, there are 39 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 1,120 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Maharishir Avenue Extn.

Stamp duty and registration fee for property in Maharishir Avenue Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total fees together to Rs 1,48,500. 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 Maharishir Avenue Extn?

The Sub Registrar Office that covers Maharishir Avenue Extn is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process for property transactions in Sivabootham. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is used to calculate the applicable fees, which are based on either the guideline value or the sale price, whichever is higher. This ensures that all transactions are conducted transparently and fairly in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Maharishir Avenue Extn?

The current guideline value of Maharishir Avenue Extn is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 200 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, marking an overall increase of 725% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles property registrations for Maharishir Avenue Extn?

The Chennai South Joint I Sub Registrar Office handles property registrations for Maharishir Avenue Extn, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the significance of the guideline value in property transactions?

The guideline value is used to establish the minimum registration value for properties, ensuring that the correct stamp duty and registration fees are collected based on either the guideline value or the sale price, whichever is higher.