Guideline Value for Renganathan Avenue

Renganathan Avenue guideline value

The current guideline value of Renganathan Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village under the Madhavaram SRO and falls under the Residential Class III Type - I land classification.

How the guideline value of Renganathan Avenue has changed

The guideline value for Renganathan Avenue has seen significant changes over the years. In the 2017 revision, the value was Rs 804 per sq.ft, which increased to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has set the value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 62%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

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. Renganathan Avenue's current guideline value is below this median.

• Rekha Nagar (Ward-03): Rs 1,600 per sq.ft (2024)
• Rekha Nagar Extension: Rs 1,600 per sq.ft (2024)
• Rekha Nagar: Rs 1,600 per sq.ft (2024)
• Redhills Road, Vinayagapuram (Ward-29): Rs 3,300 per sq.ft (2024)
• Red Hills Road (Vinayagapuram): Rs 3,300 per sq.ft (2024)
• Red Hills Road / P.R.H. Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Renganathan Avenue

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, and the registration fee at 2% would be Rs 26,000, bringing the total cost to Rs 1,17,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Renganathan Avenue?

The Sub Registrar Office that covers Renganathan Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Madhavaram. It serves as a reference point for determining the stamp duty and registration fees applicable during the transaction.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded accurately. This value helps in standardizing property transactions and ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Renganathan Avenue?

The current guideline value of Renganathan Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, which is an overall increase of 62%.

What are the guideline values for other streets in Madhavaram?

Other streets in Madhavaram have varying guideline values, with rates ranging from Rs 1,300 to Rs 7,500 per sq.ft. For example, Rekha Nagar and its extensions have a guideline value of Rs 1,600 per sq.ft.

What fees are associated with property transactions in Renganathan Avenue?

When transacting property in Renganathan Avenue, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Renganathan Avenue is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. This office handles the registration of property transactions in the area.