Guideline Value for Malar Avenue

Malar Avenue guideline value

The current guideline value of Malar Avenue is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Karanaipuducheri village, under the Gooduvancheri SRO, and is classified as Residential Class I Type - I.

How the guideline value of Malar Avenue has changed

The guideline value for Malar Avenue has seen several revisions over the years. In 2007, the value was Rs 200 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it then decreased to Rs 469 per sq.ft in 2017. The value remained at Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The overall change from the 2007 revision to the current 2024 figure shows a substantial increase of 250%. The value has remained consistent at Rs 700 per sq.ft since the 2023 revision.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 400 to Rs 2,239 per sq.ft. The median value for these streets is Rs 802 per sq.ft, making Malar Avenue's 2024 value below the median.

• Mailima Nagar: Rs 800 per sq.ft (2024)
• Mallika Nagar: Rs 700 per sq.ft (2024)
• Mahendravarman Nagar: Rs 800 per sq.ft (2024)
• Mahalakshmi Nagar Extn: Rs 800 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 800 per sq.ft (2024)
• Lingam Nagar Extn: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Malar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty, calculated at 7%, would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000. Together, these fees would total Rs 63,000. It is important to note that 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 Malar Avenue?

The Sub Registrar Office that covers Malar Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor during property registration in Karanaipuducheri. It serves as a benchmark for determining the value of the property for the purpose of calculating stamp duty and registration fees. The guideline value is set by the Registration Department and is updated periodically based on various factors.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is crucial for legal documentation. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Malar Avenue?

The current guideline value of Malar Avenue is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent revisions showing a consistent value of Rs 700 per sq.ft since 2023. The overall increase from 2007 to 2024 is 250%.

What is the land classification for Malar Avenue?

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

Where can I find the registration office for Malar Avenue?

The registration office for Malar Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Malar Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 49,000.