Guideline Value for MARC AVENUE PHASE-I

Marc Avenue Phase-I guideline value

The current guideline value of Marc Avenue Phase-I is Rs 120 per sq.ft, effective from 1 July 2024. This property is located in Kizhavalem village, under the Madurandakam SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Marc Avenue Phase-I has changed

Looking at the historical revisions, the guideline value for Marc Avenue Phase-I has seen several changes over the years. The 2012 revision set the value at Rs 120 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 120 per sq.ft. The 2017 revision marked a decrease to Rs 80 per sq.ft, which was a 33% drop from the previous revision. However, from 2017 to 2023, there was a significant increase of 50% bringing it back to Rs 120 per sq.ft.

As of the 2024 revision, the guideline value remains unchanged at Rs 120 per sq.ft, showing no percentage change from the 2023 revision. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kizhavalem

In Kizhavalem, there are 19 streets under the Madurandakam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 400 per sq.ft, with a median value of Rs 103 per sq.ft. The guideline value of Marc Avenue Phase-I is above this median.

• i5 GLOBAL CITY: Rs 250 per sq.ft (2024)
• Guberan Nagar: Rs 103 per sq.ft (2024)
• Ryan Garden Village: Rs 100 per sq.ft (2024)
• Safa Nagar Part - II: Rs 120 per sq.ft (2024)
• Safa Nagar Phase-III: Rs 120 per sq.ft (2024)
• Saranya Nagar: Rs 102 per sq.ft (2024)

Stamp duty and registration fee for property in Marc Avenue Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 120 per sq.ft, the total guideline value amounts to Rs 1,20,000. The stamp duty charged at 7% would be Rs 8,400, while the registration fee at 2% would be Rs 2,400, totaling Rs 10,800. It is important to note that 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 details.

Which Sub Registrar Office covers Marc Avenue Phase-I?

The Sub Registrar Office that covers Marc Avenue Phase-I is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

When buying or selling property in Kizhavalem, the guideline value plays a crucial role in determining the registration fees and stamp duty payable. The guideline value is the minimum value set by the government for property transactions, ensuring that the property is registered at a fair value.

At the time of registration, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that all property transactions are transparent and adhere to the regulations set by the authorities.

Frequently asked questions

What is the current guideline value of Marc Avenue Phase-I?

The current guideline value of Marc Avenue Phase-I is Rs 120 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 120 per sq.ft from 2012 to 2024, with a drop to Rs 80 per sq.ft in 2017 and an increase of 50% from 2017 to 2023.

What is the land classification for Marc Avenue Phase-I?

Marc Avenue Phase-I is classified as Commercial Class I Type - I, indicating its suitability for commercial developments.

Where can I find the Sub Registrar Office for Marc Avenue Phase-I?

The Madurandakam Sub Registrar Office covers Marc Avenue Phase-I and is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Kizhavalem?

The stamp duty for properties in Kizhavalem is calculated at 7% of the guideline value or the sale price, whichever is higher, along with a registration fee of 2% of the guideline value.