Guideline Value for Sri Mahaveer Avenue

Sri Mahaveer Avenue guideline value

The current guideline value of Sri Mahaveer Avenue is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Kunrathour-B village, under the Kunrathur SRO, and is classified as Mixed Special Type - III.

How the guideline value of Sri Mahaveer Avenue has changed

The guideline value for Sri Mahaveer Avenue has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,760 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 1,600 per sq.ft. Prior to that, in 2017, the guideline value was Rs 1,072 per sq.ft, marking a significant increase of 49% by 2023.

Overall, from 2017 to 2024, the guideline value has increased by 64%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Kunrathour-B

In Kunrathour-B, there are 325 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 660 to Rs 5,130 per sq.ft. The median guideline value is Rs 1,540 per sq.ft, placing Sri Mahaveer Avenue's 2024 figure above this median.

• Sri Manakula Vinayagar Nagar: Rs 1,430 per sq.ft (2024)
• Sri Mehta Nagar: Rs 1,540 per sq.ft (2024)
• Sri Kutty Vinayagar Nagar: Rs 1,210 per sq.ft (2024)
• Sri Kutti Vinayaga Avenue: Rs 1,320 per sq.ft (2024)
• Sri Kumaran Nagar: Rs 1,760 per sq.ft (2024)
• Sri Kubera Ganapathi Nagar: Rs 1,760 per sq.ft (2024)

Stamp duty and registration fee for property in Sri Mahaveer Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees to Rs 1,58,400. 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 Sri Mahaveer Avenue?

Sri Mahaveer Avenue falls under the jurisdiction of the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Kunrathour-B

The guideline value plays a crucial role during the registration of property transactions in Kunrathour-B. It is used to determine the stamp duty and registration fees applicable when buying or selling property.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Sri Mahaveer Avenue?

The current guideline value of Sri Mahaveer Avenue is Rs 1,760 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 1,072 per sq.ft to Rs 1,760 per sq.ft in 2024, which is a total increase of 64% over this period.

What are the stamp duty rates for property in Sri Mahaveer Avenue?

The stamp duty rate for property transactions in Sri Mahaveer Avenue is 7%, based on the higher of the guideline value or the sale price.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are guideline values determined in Kunrathour-B?

Guideline values in Kunrathour-B are determined based on various factors and are subject to revisions by the Registration Department. They are published in the guideline value register and are used for calculating stamp duty and registration fees.