Guideline Value for MS RESIDENCY

Ms Residency guideline value

The current guideline value of Ms Residency, located in Kuthampakkam village, falls under the Avadi SRO and is set at Rs 770 per sq.ft, effective from 1 July 2024. The land classification for this area is Mixed Special Type - I.

How the guideline value of Ms Residency has changed

The guideline value for Ms Residency has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 770 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 700 per sq.ft. The 2017 revision also recorded a value of Rs 700 per sq.ft, indicating no change from that year to 2023. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Overall, from 2017 to 2024, the guideline value has increased by 10%. This reflects the changes in the area's valuation over the years, culminating in the current rate.

Guideline values in Kuthampakkam

Kuthampakkam village has a total of 19 streets under the Avadi SRO that carry a guideline value for 2024, ranging from Rs 550 to Rs 3,564 per sq.ft. The median guideline value in this area is Rs 1,642 per sq.ft, placing Ms Residency's 2024 figure below that median.

• Ms Residency Extension: Rs 990 per sq.ft (2024)
• Ms Fortune City: Rs 880 per sq.ft (2024)
• Ms Dream Town Thiru Jayanthinadhar Nagar: Rs 880 per sq.ft (2024)
• Magica: Rs 1,642 per sq.ft (2024)
• Kumaran Highway City: Rs 3,564 per sq.ft (2024)
• Gowri Avenue: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Ms Residency

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, totaling Rs 69,300. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Ms Residency?

The Sub Registrar Office that covers Ms Residency is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kuthampakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid to the government.

When a property transaction occurs, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. 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 Residency?

The current guideline value of Ms Residency is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2023 to Rs 770 per sq.ft in 2024, marking a 10% increase. It remained at Rs 700 per sq.ft from 2017 to 2023.

What is the median guideline value in Kuthampakkam?

The median guideline value in Kuthampakkam is Rs 1,642 per sq.ft, with Ms Residency's current figure being below this median.

What are the stamp duty and registration fees for buying property in Ms Residency?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 7,70,000. The stamp duty would be Rs 53,900, and the registration fee would be Rs 15,400, totaling Rs 69,300.

Where is the Sub Registrar Office for Ms Residency located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.