Guideline Value for MS AVENUE

Ms Avenue guideline value

The current guideline value of Ms Avenue in Malayambakkam village, under the Kunrathur SRO, is Rs 1,400 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of Ms Avenue has changed

The guideline value of Ms Avenue has seen significant changes over the years. The 2017 revision set the value at Rs 850 per sq.ft, which increased to Rs 1,269 per sq.ft in the 2023 revision, marking a 49% increase. The most recent revision in 2024 raised the value to Rs 1,400 per sq.ft, reflecting a 10% increase from the previous year.

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

Guideline values in Malayambakkam

In Malayambakkam, there are 82 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 450 to Rs 2,750 per sq.ft. The median value for these streets is Rs 935 per sq.ft, placing Ms Avenue's 2024 figure above that median.

• M.G.R. Salai: Rs 880 per sq.ft (2024)
• Mariamman Koil Street: Rs 880 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 1,210 per sq.ft (2024)
• Om Ganapathy Nagar: Rs 935 per sq.ft (2024)
• Om Jai Sai Avenue: Rs 935 per sq.ft (2024)
• Lakshmipathi Nagar: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ms Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, bringing the total fees together to Rs 1,26,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Ms Avenue?

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

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

The guideline value is an essential factor in the registration process when buying or selling property in Malayambakkam. It serves as a benchmark for determining the stamp duty and registration fees that are applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Ms Avenue?

The current guideline value of Ms Avenue is Rs 1,400 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 850 per sq.ft to Rs 1,400 per sq.ft in 2024, marking a 65% overall increase.

What is the land classification for Ms Avenue?

Ms Avenue is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Ms Avenue?

The Sub Registrar Office covering Ms Avenue is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 14,00,000, the stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000.