Guideline Value for TEACHERS AVENUE

Teachers Avenue guideline value

The current guideline value of Teachers Avenue in Veeranakunnam village is Rs 102 per sq.ft, effective from 1 July 2024. This property falls under the Madurandakam SRO and is classified as Residential Special Type - II.

How the guideline value of Teachers Avenue has changed

The guideline value for Teachers Avenue has seen several revisions over the years. The earliest recorded figure is from 2012, where it was Rs 75 per sq.ft. This value changed to Rs 50 per sq.ft in 2017, marking a decrease of 33%. However, from 2017 to 2023, the value increased by 100%, reaching Rs 100 per sq.ft. The latest revision in 2024 has further increased the value to Rs 102 per sq.ft, reflecting a change of 2% from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 for Teachers Avenue. Overall, from 2012 to 2024, the guideline value has increased by 36%.

Guideline values in Veeranakunnam

In Veeranakunnam, there are 9 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 103 per sq.ft. The median value for these streets is Rs 103 per sq.ft, indicating that the guideline value for Teachers Avenue is below this median.

• Sri Sai Baba Nagar: Rs 103 per sq.ft (2024)
• Srinivasa Nagar Phase-I: Rs 103 per sq.ft (2024)
• Srinivasa Nagar: Rs 103 per sq.ft (2024)
• Sai Sakthi Garden: Rs 103 per sq.ft (2024)
• Royal Nagar: Rs 100 per sq.ft (2024)
• Real Value Developer In Royal Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Teachers Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 102 per sq.ft, the total guideline value would be Rs 1,02,000. The stamp duty at 7% would amount to Rs 7,140, and the registration fee at 2% would be Rs 2,040, bringing the total charges to Rs 9,180. 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 Teachers Avenue?

The Sub Registrar Office that covers Teachers Avenue is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Veeranakunnam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate taxes are collected. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Teachers Avenue?

The current guideline value of Teachers Avenue is Rs 102 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2012 to Rs 102 per sq.ft in 2024, with notable changes including a decrease to Rs 50 per sq.ft in 2017 and an increase to Rs 100 per sq.ft in 2023.

What is the land classification for Teachers Avenue?

Teachers Avenue is classified as Residential Special Type - II under the current guidelines.

Where can I find the Madurandakam Sub Registrar Office?

The Madurandakam Sub Registrar Office is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 102 per sq.ft, the stamp duty would be Rs 7,140.