Guideline Value for MAPEL AVENUE

Mapel Avenue guideline value

The current guideline value of Mapel Avenue in Pallikaranai village, under the Chennai South Joint I SRO, is Rs 1,320 per sq.ft, effective from 1 July 2024. This area falls under Residential Class IV Type - II land classification.

How the guideline value of Mapel Avenue has changed

The guideline value for Mapel Avenue has undergone several revisions since 2002. In 2002, the guideline value was Rs 122 per sq.ft, which increased to Rs 144 per sq.ft in 2003, marking an 18% rise. The value saw a significant jump to Rs 500 per sq.ft in 2007, reflecting a 247% increase. In 2012, the value remained at Rs 1,200 per sq.ft, and then it decreased to Rs 804 per sq.ft in 2017, showing a decline of 33%. The value increased to Rs 1,200 per sq.ft in 2023, before reaching the current value of Rs 1,320 per sq.ft in 2024, which is a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 982%. There are no records for other years in the register for this street.

Guideline values in Pallikaranai

Pallikaranai village has 749 streets under the Chennai South Joint I SRO with a 2024 guideline value ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value in this area is Rs 1,650 per sq.ft, which means Mapel Avenue's 2024 figure is below that median.

• Manohar Nagar Main Road: Rs 2,420 per sq.ft (2024)
• Manohar Nagar 3rd Cross Street: Rs 2,420 per sq.ft (2024)
• Manohar Nagar 2nd Cross Street And Extension: Rs 2,420 per sq.ft (2024)
• Manohar Nagar 1 To 18th Street: Rs 2,420 per sq.ft (2024)
• Manohar Nagar 1st Cross Street: Rs 2,420 per sq.ft (2024)
• Manohar Nagar 18th Street: Rs 2,420 per sq.ft (2024)

Stamp duty and registration fee for property in Mapel Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mapel Avenue?

The Sub Registrar Office that covers Mapel Avenue 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 Pallikaranai

The guideline value is a crucial factor in the registration process when buying or selling property. It helps determine the stamp duty and registration fees applicable to the transaction, ensuring that all parties comply with legal requirements.

When a property is registered, the guideline value serves as a benchmark to assess the value of the property, which in turn affects the overall costs involved in the transaction. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Mapel Avenue?

The current guideline value of Mapel Avenue is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 122 in 2002 to Rs 1,320 in 2024, reflecting an overall increase of 982% over this period.

What is the land classification of Mapel Avenue?

Mapel Avenue falls under Residential Class IV Type - II land classification.

What is the median guideline value in Pallikaranai?

The median guideline value in Pallikaranai is Rs 1,650 per sq.ft, which is higher than the current value of Mapel Avenue.

Where can I find the Sub Registrar Office for Mapel Avenue?

The Sub Registrar Office for Mapel Avenue is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.