Guideline Value for MOUNTAIN VIEW AVENUE

Mountain View Avenue guideline value

The current guideline value of Mountain View Avenue in Kolathur village, under the Chengleput Joint II SRO, is Rs 600 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Mountain View Avenue has changed

The guideline value for Mountain View Avenue has undergone several revisions over the years. In 2007, the value was set at Rs 110 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. This marked a substantial increase of 445%. However, in 2017, the value was revised to Rs 402 per sq.ft, reflecting a decrease of 33%. From 2017 to 2023, the guideline value remained stable at Rs 600 per sq.ft, showing an increase of 49% from the previous figure.

The most recent revision in 2024 maintains the guideline value at Rs 600 per sq.ft, indicating no change from the 2023 revision. The register does not contain figures for the years 2002 and 2003 for this street.

Guideline values in Kolathur

Mountain View Avenue's guideline value aligns with the median value of Rs 600 per sq.ft among the 58 streets in Kolathur under the Chengleput Joint II SRO, which range from Rs 500 to Rs 1,600 per sq.ft.

• Murugan Syndicate: Rs 600 per sq.ft (2024)
• Mahathma Gandhi Nagar: Rs 600 per sq.ft (2024)
• Maha Nagar: Rs 600 per sq.ft (2024)
• Madura Nagar: Rs 600 per sq.ft (2024)
• Lavakusa Nagar: Rs 600 per sq.ft (2024)
• Lakshmi Narayana Nagar-I: Rs 600 per sq.ft (2024)

Stamp duty and registration fee for property in Mountain View Avenue

For a 1,000 sq.ft plot at the current rate of Rs 600 per sq.ft, the guideline value amounts to Rs 6,00,000. The stamp duty at 7% would be Rs 42,000, and the registration fee at 2% would be Rs 12,000, totaling Rs 54,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Mountain View Avenue?

The Sub Registrar Office that covers Mountain View Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Kolathur, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring compliance with local regulations.

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

Frequently asked questions

What is the current guideline value of Mountain View Avenue?

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

How has the guideline value changed over the years?

The guideline value has changed multiple times, with the most recent revision in 2024 maintaining it at Rs 600 per sq.ft. Notably, there was a significant increase from Rs 110 per sq.ft in 2007 to Rs 600 per sq.ft in 2012.

What is the land classification for Mountain View Avenue?

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

Where can I find the Sub Registrar Office for Mountain View Avenue?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Mountain View Avenue.

How is the stamp duty calculated for properties in Kolathur?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a 1,000 sq.ft plot valued at Rs 600 per sq.ft, the total guideline value would be Rs 6,00,000, leading to a stamp duty of Rs 42,000.