Guideline Value for T.M.Avenue

T.M.Avenue guideline value

The current guideline value of T.M.Avenue in Sethupattu village is Rs 250 per sq.ft, effective from 1 July 2024. This street falls under the Sriperumpudur SRO and is classified as Residential Class III Type - I.

How the guideline value of T.M.Avenue has changed

The guideline value for T.M.Avenue has seen several revisions over the years. In the 2012 revision, the value was set at Rs 250 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 167 per sq.ft, marking a decrease of 33%. The value then increased significantly to Rs 250 per sq.ft in the 2023 revision, maintaining this rate into the 2024 revision, resulting in a 50% increase from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for T.M.Avenue. Overall, from 2012 to 2024, the guideline value has remained stable at Rs 250 per sq.ft.

Guideline values in Sethupattu

Sethupattu village has 23 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 150 to Rs 1,500 per sq.ft, with a median value of Rs 300 per sq.ft. The guideline value for T.M.Avenue is below this median.

• T.M.Garden: Rs 530 per sq.ft (2024)
• Tambaram Sriperumpudur Road: Rs 1,400 per sq.ft (2024)
• Sri Hayagreevar Nagar: Rs 150 per sq.ft (2024)
• Sathya Nagar: Rs 450 per sq.ft (2024)
• Sabari Nagar: Rs 300 per sq.ft (2024)
• P.S.Nagar Ph.II: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in T.M.Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 250 per sq.ft, the total guideline value would be Rs 2,50,000. The stamp duty at 7% would amount to Rs 17,500, and the registration fee at 2% would be Rs 5,000, bringing the total costs to Rs 22,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers T.M.Avenue?

The Sub Registrar Office that covers T.M.Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions within Sethupattu. It determines the minimum value for which a property can be registered and is used to calculate stamp duty and registration fees.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of T.M.Avenue?

The current guideline value of T.M.Avenue is Rs 250 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 250 per sq.ft in 2023 and 2024, increased from Rs 167 per sq.ft in 2017, and decreased from Rs 250 per sq.ft in 2012.

What is the classification of land on T.M.Avenue?

T.M.Avenue is classified as Residential Class III Type - I under the guideline value register.

Where can I find the Sub Registrar Office for T.M.Avenue?

The Sub Registrar Office for T.M.Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.

How is stamp duty calculated for properties in T.M.Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 2,50,000 would incur a stamp duty of Rs 17,500.