Guideline Value for MAJESTIC AVENUE PHASE-II

Majestic Avenue Phase-II guideline value

The current guideline value of Majestic Avenue Phase-II is Rs 300 per sq.ft. This property is located in Athur A Block village, under the Chengleput Joint II SRO, and is classified as Residential Class I Type - II.

How the guideline value of Majestic Avenue Phase-II has changed

The guideline value for Majestic Avenue Phase-II has seen several revisions over the years. The 2012 revision set the value at Rs 300 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 201 per sq.ft. This was followed by a significant increase in the 2023 revision, bringing the value back to Rs 300 per sq.ft, which remained the same in the 2024 revision.

From 2017 to 2023, the guideline value increased by 49%. However, there was no change from 2023 to 2024, maintaining the value at Rs 300 per sq.ft. The overall change from the 2012 revision to the 2024 revision is 0%.

Guideline values in Athur A Block

Athur A Block consists of 44 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 300 to Rs 1,525 per sq.ft. The median guideline value for these streets is Rs 600 per sq.ft, making the 2024 figure for Majestic Avenue Phase-II below that median.

• Majestic Avenue Phase -I: Rs 300 per sq.ft (2024)
• Krishna Garden: Rs 600 per sq.ft (2024)
• Mountain View: Rs 500 per sq.ft (2024)
• Mubarak Naagr: Rs 600 per sq.ft (2024)
• Kannappa Nagar: Rs 600 per sq.ft (2024)
• Golden Lane: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Majestic Avenue Phase-II

For a 1,000 sq.ft plot at the current rate of Rs 300 per sq.ft, the guideline value would be Rs 3,00,000. The stamp duty at 7% would amount to Rs 21,000, and the registration fee at 2% would be Rs 6,000, totaling Rs 27,000. Duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Majestic Avenue Phase-II?

The Sub Registrar Office that covers Majestic Avenue Phase-II is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in Athur A Block

The guideline value is a crucial factor during the registration of property transactions in Athur A Block. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the correct revenue from property transactions.

Frequently asked questions

What is the current guideline value of Majestic Avenue Phase-II?

The current guideline value of Majestic Avenue Phase-II is Rs 300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 300 per sq.ft in 2012, 2023, and 2024, while it decreased to Rs 201 per sq.ft in 2017. There were no figures available for the years 2002, 2003, and 2007.

What is the median guideline value in Athur A Block?

The median guideline value for the 44 streets in Athur A Block is Rs 600 per sq.ft, with Majestic Avenue Phase-II's value being below this median.

What are the stamp duty and registration fees for property in Majestic Avenue Phase-II?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 27,000, based on a guideline value of Rs 3,00,000.

Where is the Sub Registrar Office for Majestic Avenue Phase-II located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.