Guideline Value for Marshal Avenue (Ward-02)

Marshal Avenue (Ward-02) guideline value

The current guideline value of Marshal Avenue (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of Marshal Avenue (Ward-02) has changed

The guideline value for Marshal Avenue has undergone significant changes over the years. The register shows that in 2017, the guideline value was Rs 804 per sq.ft. With the revision in 2024, this value increased to Rs 1,300 per sq.ft, marking a substantial rise of 62% over this period. The register does not provide figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

From the 2017 revision to the current 2024 figure, the increase reflects changing dynamics in the region. The guideline value for this street has seen a notable jump, aligning with the overall adjustments in the Madhavaram area.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Marshal Avenue (Ward-02) is below this median, indicating its position within the broader context of the area.

• Marisvilla Periya Salai (Ponniamman Medu): Rs 1,300 per sq.ft (2024)
• Mariamman Koil St (Ward-08): Rs 1,300 per sq.ft (2024)
• Mariamman Koil Street (Ward-10): Rs 1,300 per sq.ft (2024)
• Masana St, KKR Nagar (Ward-07): Rs 1,300 per sq.ft (2024)
• Mariamman Koil cross st (Ward No.10): Rs 1,300 per sq.ft (2024)
• Ma-Po-Vedha St (Ward No.30): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Marshal Avenue (Ward-02)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total fees to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations based on your property transaction.

Which Sub Registrar Office covers Marshal Avenue (Ward-02)?

The Sub Registrar Office that covers Marshal Avenue (Ward-02) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Madhavaram. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall costs associated with property transactions. Ensuring that the property is registered at or above the guideline value is a legal requirement for smooth transactions.

Frequently asked questions

What is the current guideline value of Marshal Avenue (Ward-02)?

The current guideline value of Marshal Avenue (Ward-02) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, which is a change of 62%.

What is the land classification for Marshal Avenue (Ward-02)?

Marshal Avenue (Ward-02) is classified as Residential Class III Type - I.

Where can I find the Madhavaram Sub Registrar Office?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.

How is stamp duty calculated for properties in Madhavaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 1,300 per sq.ft would incur a total guideline value of Rs 13,00,000.