Guideline Value for MALAVIA AVENUE 1ST CROSS STREET

Malavia Avenue 1st Cross Street guideline value

The current guideline value of Malavia Avenue 1st Cross Street is Rs 12,660 per sq.ft. This street is located in Thiruvanmiyur village and falls under the Chennai South Joint I SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Malavia Avenue 1st Cross Street has changed

The guideline value for Malavia Avenue 1st Cross Street has seen significant changes over the years. In 2002, the guideline value was Rs 1,563 per sq.ft. This figure increased to Rs 1,729 per sq.ft in 2003, marking an increase of 11%. By 2007, the value rose dramatically to Rs 3,000 per sq.ft, reflecting a 74% increase. The value continued to climb, reaching Rs 11,500 per sq.ft in 2012, which was an increase of 283% from the previous revision.

From 2012 to 2017, the guideline value dropped to Rs 7,705 per sq.ft, a decrease of 33%. However, it rebounded to Rs 11,500 per sq.ft in 2023, and the most recent revision in 2024 set the value at Rs 12,660 per sq.ft, a 10% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 710%.

Guideline values in Thiruvanmiyur

In Thiruvanmiyur, there are 484 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 3,520 to Rs 12,660 per sq.ft. The median guideline value for these streets is Rs 9,900 per sq.ft, placing Malavia Avenue 1st Cross Street above this median.

• Malavia Avenue: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 1st Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 2nd Cross Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 3rd Cross Street: Rs 12,660 per sq.ft (2024)
• Malavia Avenue 4th Cross Street: Rs 12,660 per sq.ft (2024)
• Malavia Street: Rs 12,660 per sq.ft (2024)

Stamp duty and registration fee for property in Malavia Avenue 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 12,660 per sq.ft, the total guideline value amounts to Rs 1,26,60,000. The stamp duty at 7% would be Rs 8,86,200, and the registration fee at 2% would be Rs 2,53,200, bringing the total cost for these fees to Rs 11,39,400. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Malavia Avenue 1st Cross Street?

The Sub Registrar Office that covers Malavia Avenue 1st Cross Street 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 more information.

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

The guideline value plays a crucial role during the registration of property transactions in Thiruvanmiyur. It is used to determine the stamp duty and registration fees that must be paid when a property is bought or sold. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When engaging in a property transaction, it is essential to be aware of the current guideline value to ensure compliance with local regulations. This value is updated periodically, reflecting changes in the locality and land classification.

Frequently asked questions

What is the current guideline value of Malavia Avenue 1st Cross Street?

The current guideline value of Malavia Avenue 1st Cross Street is Rs 12,660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,563 per sq.ft in 2002 to Rs 12,660 per sq.ft in 2024, marking an overall increase of 710% over this period.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 1,26,60,000, the stamp duty would be Rs 8,86,200, and the registration fee would be Rs 2,53,200, totaling Rs 11,39,400.

Which Sub Registrar Office covers this area?

The Chennai South Joint I Sub Registrar Office covers Malavia Avenue 1st Cross Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification of Malavia Avenue 1st Cross Street?

The land classification for Malavia Avenue 1st Cross Street is Commercial Class I Type - I, indicating its suitability for commercial activities.