Guideline Value for New Avenue

New Avenue guideline value

The current guideline value of New Avenue in Mambakkam village is Rs 500 per sq.ft, effective from the 2024 revision. This falls under the jurisdiction of the Sunguvarchattram SRO and is classified as Residential Special Type - I.

How the guideline value of New Avenue has changed

The guideline value for New Avenue has remained consistent at Rs 500 per sq.ft for the years 2023 and 2024, showing no change between these two revisions. Prior to 2023, the register has no figures for this street for the years 2002, 2003, 2007, 2012, and 2017.

In summary, the guideline value has not fluctuated in the recent revisions, maintaining a steady rate of Rs 500 per sq.ft since the 2023 revision. The absence of figures for the earlier years indicates that there has been no recorded guideline value for New Avenue until the recent revisions.

Guideline values in Mambakkam

In Mambakkam, there are 39 streets under the Sunguvarchattram SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 1,418 per sq.ft. The median value for these streets is Rs 305 per sq.ft, placing New Avenue's 2024 figure above this median.

• Narayana Nagar: Rs 505 per sq.ft (2024)
• Padavettamman Kovil Street: Rs 305 per sq.ft (2024)
• Naddu Street: Rs 275 per sq.ft (2024)
• Muthumariamman Kovil Street: Rs 305 per sq.ft (2024)
• Pallikooda East Street: Rs 305 per sq.ft (2024)
• PalliKooda Street: Rs 305 per sq.ft (2024)

Stamp duty and registration fee for property in New Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value would be Rs 5,00,000. The stamp duty at 7% would amount to Rs 35,000, and the registration fee at 2% would be Rs 10,000, bringing the total fees together to Rs 45,000. It is important to note that the 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 details.

Which Sub Registrar Office covers New Avenue?

The Sub Registrar Office that covers New Avenue is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Mambakkam. It determines the minimum value at which a property can be registered, ensuring that the transaction is officially recognized by the authorities.

When a buyer or seller approaches the registration office, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures transparency and compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of New Avenue?

The current guideline value of New Avenue is Rs 500 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value for New Avenue has remained at Rs 500 per sq.ft for both the 2023 and 2024 revisions, with no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the land classification for New Avenue?

New Avenue is classified as Residential Special Type - I, indicating its designation for residential purposes within the area.

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

The Sub Registrar Office for New Avenue is the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road, opposite Caparo Company, Sunguvarchatram, Chengalpattu registration zone.

How is the stamp duty calculated for properties in New Avenue?

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 Rs 500 per sq.ft incurs a total guideline value of Rs 5,00,000, leading to a stamp duty of Rs 35,000.