Guideline Value for MARVEL AVENUE

Marvel Avenue guideline value

The current guideline value of Marvel Avenue is Rs 501 per sq.ft, effective from 1 July 2024. This street is located in Anjur village, under the Chengleput Joint II SRO, and is classified as a New House Site Type -II (Unapproved Lay-Out).

How the guideline value of Marvel Avenue has changed

In the 2012 revision, the guideline value was Rs 500 per sq.ft. This figure remained unchanged until the 2017 revision, where it decreased to Rs 335 per sq.ft, marking a decline of 33%. The subsequent 2023 revision saw a significant increase to Rs 500 per sq.ft, and in the latest 2024 revision, the value is Rs 501 per sq.ft, reflecting no change from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has remained the same at Rs 501 per sq.ft. The 2017 to 2023 period experienced a notable increase of 49% in the guideline value.

Guideline values in Anjur

In Anjur, there are 10 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,500 per sq.ft, with a median value of Rs 625 per sq.ft. The guideline value of Marvel Avenue is below this median.

• K P Green Meadows Phase-I-II-III: Rs 650 per sq.ft (2024)
• Om Sakthi Nagar: Rs 500 per sq.ft (2024)
• Paras Nagar: Rs 500 per sq.ft (2024)
• Kamakshi Avenue: Rs 2,500 per sq.ft (2024)
• Dra Pristine Pavilion: Rs 400 per sq.ft (2024)
• Uj Garden: Rs 2,000 per sq.ft (2024)

Stamp duty and registration fee for property in Marvel Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 501 per sq.ft, the total guideline value would be Rs 5,01,000. The stamp duty at 7% would amount to Rs 35,070, and the registration fee at 2% would be Rs 10,020, bringing the total fees to Rs 45,090. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Marvel Avenue?

The Sub Registrar Office that covers Marvel Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Anjur. It serves as a benchmark for determining the value of a property transaction, ensuring that the property is registered at a value that reflects the current market conditions.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for the legal transfer of property ownership. This ensures that all transactions are conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Marvel Avenue?

The current guideline value of Marvel Avenue is Rs 501 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 500 per sq.ft in 2012 to Rs 335 per sq.ft in 2017, then rising to Rs 500 per sq.ft in 2023, and finally to Rs 501 per sq.ft in 2024.

What are the other streets in Anjur and their guideline values?

Other streets in Anjur include K P Green Meadows Phase-I-II-III at Rs 650 per sq.ft, Om Sakthi Nagar and Paras Nagar at Rs 500 per sq.ft, Kamakshi Avenue at Rs 2,500 per sq.ft, Dra Pristine Pavilion at Rs 400 per sq.ft, and Uj Garden at Rs 2,000 per sq.ft.

What is the stamp duty for property in Marvel Avenue?

The stamp duty for property in Marvel Avenue is calculated at 7% of the guideline value. For a plot valued at Rs 5,01,000, the stamp duty would be Rs 35,070.

Where is the Sub Registrar Office for Marvel Avenue located?

The Chengleput Joint II Sub Registrar Office, which covers Marvel Avenue, is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.