Guideline Value for Maran Avenue

Maran Avenue guideline value

The current guideline value of Maran Avenue is Rs 3,960 per sq.ft, effective from 1 July 2024. This street is located in Madanandapuram village under the Kunrathur SRO, classified as Residential Special Type - I.

How the guideline value of Maran Avenue has changed

The guideline value for Maran Avenue has seen significant changes over the years. In 2007, the value was Rs 400 per sq.ft, which increased dramatically to Rs 3,600 per sq.ft in 2012, marking an increase of 800%. However, it decreased to Rs 2,412 per sq.ft in 2017, a decline of 33%. The value then rose to Rs 3,600 per sq.ft in 2023, followed by a further increase to Rs 3,960 per sq.ft in 2024, reflecting a 10% rise.

Overall, from 2007 to 2024, the guideline value has increased by 890%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Madanandapuram

Madanandapuram village has 94 streets under the Kunrathur SRO with a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft. The median guideline value in the village is Rs 3,520 per sq.ft, placing Maran Avenue's 2024 value above this median.

• Mangala Lakshmi Nagar: Rs 3,520 per sq.ft (2024)
• Mahalakshmi Nagar Annuxe/ Extension: Rs 3,520 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 3,960 per sq.ft (2024)
• Madha Nagar Extension V: Rs 3,960 per sq.ft (2024)
• Madha Nagar Extension IV: Rs 3,960 per sq.ft (2024)
• Madha Nagar Extension III: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Maran Avenue

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 39,60,000. The stamp duty at 7% would be Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, totaling Rs 3,56,400. Please 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 information.

Which Sub Registrar Office covers Maran Avenue?

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

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

The guideline value is used as a reference point for determining the stamp duty and registration fees when buying or selling property in Madanandapuram. It ensures that the government receives the appropriate revenue from property transactions based on the established values.

When you register a property, the guideline value will be compared to the sale price, and the higher of the two will be used to calculate the applicable duties and fees. This process helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Maran Avenue?

The current guideline value of Maran Avenue is Rs 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 400 per sq.ft in 2007 to Rs 3,960 per sq.ft in 2024, marking an overall increase of 890% over the years.

What are the stamp duty and registration fees for a property in Maran Avenue?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty and registration fees would amount to Rs 3,56,400.

Which Sub Registrar Office handles registrations for Maran Avenue?

The Kunrathur Sub Registrar Office handles registrations for Maran Avenue, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification of Maran Avenue?

Maran Avenue is classified as Residential Special Type - I under the guideline value register.