Guideline Value for MARDEN AVENUE,SUMUGA VINAYAGAR KOIL STREET

Marden Avenue,Sumuga Vinayagar Koil Street guideline value

The current guideline value of Marden Avenue,Sumuga Vinayagar Koil Street is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Kilkattalai village under the Pallavaram SRO and is classified as Residential Class II Type - I.

How the guideline value of Marden Avenue,Sumuga Vinayagar Koil Street has changed

The guideline value for Marden Avenue,Sumuga Vinayagar Koil Street has undergone several revisions over the years. The oldest recorded revision is from 2012, where the guideline value was Rs 1,800 per sq.ft. In 2017, it decreased to Rs 1,206 per sq.ft, marking a decline of 33%. By the 2023 revision, the value increased significantly to Rs 1,800 per sq.ft, and then further rose to Rs 1,980 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%, bringing the value back up to Rs 1,800 per sq.ft. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Kilkattalai

Kilkattalai village features a range of guideline values across its 194 streets under the Pallavaram SRO, with figures ranging from Rs 1,080 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,530 per sq.ft, placing Marden Avenue,Sumuga Vinayagar Koil Street's 2024 value below this median.

• Marden Avenue ,Ganga Nagar Ext: Rs 1,980 per sq.ft (2024)
• Mariamman Koil Street: Rs 2,200 per sq.ft (2024)
• Manoharan Street: Rs 2,200 per sq.ft (2024)
• Manikandan Street: Rs 2,200 per sq.ft (2024)
• Manickam Nagar 2nd Cross St.: Rs 2,160 per sq.ft (2024)
• Manickam Nagar 1st Cross St.: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Marden Avenue,Sumuga Vinayagar Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total cost to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Marden Avenue,Sumuga Vinayagar Koil Street?

The Sub Registrar Office that covers Marden Avenue,Sumuga Vinayagar Koil Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more assistance.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kilkattalai. It is used to determine the stamp duty and registration fees that must be paid during the transaction. Buyers should be aware that the stamp duty is calculated based on the higher amount between the guideline value and the actual sale price of the property.

When selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. It is essential for both buyers and sellers to understand the guideline value to ensure compliance with local regulations and to accurately assess the financial implications of their transactions.

Frequently asked questions

What is the current guideline value of Marden Avenue,Sumuga Vinayagar Koil Street?

The current guideline value of Marden Avenue,Sumuga Vinayagar Koil Street is Rs 1,980 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,980 per sq.ft in 2024, representing an overall increase of 10% over the years.

What were the guideline values in previous revisions?

The guideline values for previous revisions are as follows: Rs 1,800 per sq.ft in 2012, Rs 1,206 per sq.ft in 2017, and Rs 1,800 per sq.ft in 2023.

Which Sub Registrar Office covers this street?

The Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone, covers Marden Avenue,Sumuga Vinayagar Koil Street.

How is stamp duty calculated for properties in Kilkattalai?

Stamp duty for properties in Kilkattalai is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 19,80,000 would incur a stamp duty of Rs 1,38,600 at a rate of 7%.