Guideline Value for MAV MUMMURTHI AVENUE

Mav Mummurthi Avenue guideline value

The current guideline value of Mav Mummurthi Avenue in Kaspapuram village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Mav Mummurthi Avenue has changed

Over the years, the guideline value of Mav Mummurthi Avenue has seen significant changes. In the 2017 revision, the value was Rs 1,005 per sq.ft. This increased to Rs 1,500 per sq.ft in the 2023 revision, reflecting a 49% rise. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for Mav Mummurthi Avenue in the revisions from 2002, 2003, 2007, and 2012. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value for the village is Rs 1,100 per sq.ft, placing Mav Mummurthi Avenue's value above this median.

• M A V Manickam Avenue All Streets: Rs 660 per sq.ft (2024)
• M.A.V. Balamurugan Avenue: Rs 1,100 per sq.ft (2024)
• Mayana Salai: Rs 440 per sq.ft (2024)
• Manickam Avenue Main Road: Rs 660 per sq.ft (2024)
• M.M. Nagar Phase -3: Rs 1,650 per sq.ft (2024)
• Mumurthy Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Mav Mummurthi Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It's 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 detailed calculations.

Which Sub Registrar Office covers Mav Mummurthi Avenue?

The Sub Registrar Office that covers Mav Mummurthi Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kaspapuram. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with legal requirements.

During the registration process, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Mav Mummurthi Avenue?

The current guideline value of Mav Mummurthi Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,005 per sq.ft to Rs 1,650 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification for Mav Mummurthi Avenue?

Mav Mummurthi Avenue is classified as Residential Special Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office for Mav Mummurthi Avenue located?

The Sub Registrar Office for Mav Mummurthi Avenue is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.