Guideline Value for MARIS AVENUE

Maris Avenue guideline value

The current guideline value of Maris Avenue is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Mogalivakkam village, under the Kunrathur SRO, and is classified as Mixed Special Type - II.

How the guideline value of Maris Avenue has changed

The guideline value for Maris Avenue has seen several revisions over the years. In the 2017 revision, the value was set at Rs 4,010 per sq.ft. This figure increased significantly to Rs 5,986 per sq.ft in the 2023 revision, marking a 49% rise. Following that, the 2024 revision established the current guideline value at Rs 6,600 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 65%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Mogalivakkam

Mogalivakkam has a total of 98 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 2,530 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, placing Maris Avenue's 2024 figure above this median.

• Mariamman Koil Street: Rs 2,970 per sq.ft (2024)
• Maragatham Chandrasekar Nagar: Rs 2,970 per sq.ft (2024)
• Manapakkam Road: Rs 3,520 per sq.ft (2024)
• Mettukuppam: Rs 2,970 per sq.ft (2024)
• Mettukuppam Bajanai Koil Street: Rs 2,970 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 3,520 per sq.ft (2024)

Stamp duty and registration fee for property in Maris Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Maris Avenue?

The Sub Registrar Office that covers Maris Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mogalivakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value set by the government.

Frequently asked questions

What is the current guideline value of Maris Avenue?

The current guideline value of Maris Avenue is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 4,010 per sq.ft in 2017 to Rs 5,986 per sq.ft in 2023, and then to Rs 6,600 per sq.ft in 2024. This represents a total increase of 65% from 2017 to 2024.

What is the land classification of Maris Avenue?

Maris Avenue is classified as Mixed Special Type - II under the land classification system.

Where can I find the registration office for Maris Avenue?

The registration office for Maris Avenue is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

How is stamp duty calculated for properties in Maris Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at 7%.