Guideline Value for MALAVIA AVENUE 3RD CROSS STREET

Malavia Avenue 3rd Cross Street guideline value

The current guideline value of Malavia Avenue 3rd Cross Street is Rs 12,660 per sq.ft, effective from 1 July 2024. This street is located in Thiruvanmiyur village under the Chennai South Joint I SRO, and it falls under the Commercial Class I Type - I land classification.

How the guideline value of Malavia Avenue 3rd Cross Street has changed

The guideline value for Malavia Avenue 3rd Cross Street has seen significant changes over the years. In 2002, the value was Rs 1,097 per sq.ft, which increased to Rs 1,214 per sq.ft in 2003. Following that, the value rose to Rs 3,000 per sq.ft in 2007. In 2012, the value was Rs 11,500 per sq.ft, but it dropped to Rs 7,705 per sq.ft in 2017. The value then increased to Rs 11,500 per sq.ft in 2023, and finally, it reached Rs 12,660 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 1,054%. The changes between the revisions indicate a substantial rise in value, particularly from 2007 to 2012, which saw an increase of 283%, and from 2017 to 2023, which experienced a 49% increase. The register has no figures for the years not mentioned above.

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 3rd Cross Street above that median.

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

Stamp duty and registration fee for property in Malavia Avenue 3rd Cross Street

For a 1,000 sq.ft plot at the current guideline value, 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 to Rs 11,39,400. Please note that the 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 further calculations.

Which Sub Registrar Office covers Malavia Avenue 3rd Cross Street?

The Malavia Avenue 3rd Cross Street falls under 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 is a critical factor in the registration process when buying or selling property in Thiruvanmiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial implications of their property transactions. It is essential to consider the guideline value to avoid any unexpected costs during the registration process.

Frequently asked questions

What is the current guideline value of Malavia Avenue 3rd Cross Street?

The current guideline value of Malavia Avenue 3rd 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 changed significantly from Rs 1,097 per sq.ft in 2002 to Rs 12,660 per sq.ft in 2024, reflecting an overall increase of 1,054% over this period.

What are the other streets with the same guideline value in Thiruvanmiyur?

Several other streets in Thiruvanmiyur have the same guideline value of Rs 12,660 per sq.ft in 2024, including Malavia Avenue 2nd Cross Street, Malavia Avenue 4th Cross Street, and Malavia Avenue 1st Street.

Where can I find the Sub Registrar Office for Malavia Avenue 3rd Cross Street?

The Sub Registrar Office covering Malavia Avenue 3rd Cross Street is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, fanepet Nandanam, Chennai -600 035.

How is the stamp duty calculated for properties in Malavia Avenue 3rd Cross Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total stamp duty of Rs 8,86,200.