Guideline Value for Prathap Avenue (Munu Adhi Street)

Prathap Avenue (Munu Adhi Street) guideline value

The current guideline value of Prathap Avenue (Munu Adhi Street) is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Prathap Avenue (Munu Adhi Street) has changed

Over the years, the guideline value of Prathap Avenue has seen several revisions. The most recent revision in 2024 set the value at Rs 1,650 per sq.ft, an increase from the 2023 figure of Rs 1,500 per sq.ft, marking a 10% rise. Prior to that, in 2017, the guideline value was Rs 1,005 per sq.ft, which had increased by 49% to reach Rs 1,500 per sq.ft in 2023. The 2012 revision also recorded a value of Rs 1,500 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that there are no recorded figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for the village is Rs 1,650 per sq.ft, which is equal to the current value of Prathap Avenue (Munu Adhi Street).

• Prathap Avenue: Rs 2,750 per sq.ft (2024)
• Prathip Avenue: Rs 1,650 per sq.ft (2024)
• Prem Nagar: Rs 1,100 per sq.ft (2024)
• Priyalvar Street: Rs 1,100 per sq.ft (2024)
• Pugalendhi Street: Rs 2,750 per sq.ft (2024)
• Poombuhar Street: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Prathap Avenue (Munu Adhi Street)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prathap Avenue (Munu Adhi Street)?

The Sub Registrar Office that covers Prathap Avenue (Munu Adhi Street) is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering a property in Chitlapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the sale price is aligned with government valuations.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both buyers and sellers are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Prathap Avenue?

The current guideline value of Prathap Avenue (Munu Adhi Street) is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2012, the guideline value has seen various revisions, with the most recent increase of 10% from Rs 1,500 per sq.ft in 2023 to Rs 1,650 per sq.ft in 2024.

What is the land classification for Prathap Avenue?

Prathap Avenue (Munu Adhi Street) is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

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

The Sub Registrar Office for Prathap Avenue is located at No.26, Mes Road, East Tambaram, Chennai-600059, under the Chengalpattu registration zone.

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

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500 at 7%.