Guideline Value for TRINTY AVENUE

Trinty Avenue guideline value

The current guideline value of Trinty Avenue in Maiyur village is Rs 500 per sq.ft, effective from 1 July 2024. This property falls under the Chengleput Joint II SRO and is classified as Residential Special Type - I.

How the guideline value of Trinty Avenue has changed

The guideline value for Trinty Avenue has seen several revisions over the years. In 2012, the value was set at Rs 500 per sq.ft, which remained unchanged in the 2023 revision. However, the 2017 revision recorded a decrease to Rs 335 per sq.ft, marking a drop of 33%. From 2017 to 2023, there was a significant increase of 49%, bringing the value back to Rs 500 per sq.ft. The 2024 revision maintains this value, reflecting no change from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for Trinty Avenue. Overall, from 2012 to 2024, the guideline value has remained stable, showing a 0% change.

Guideline values in Maiyur

In Maiyur, there are 28 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 200 to Rs 700 per sq.ft. The median value for these streets is Rs 400 per sq.ft, placing Trinty Avenue's 2024 figure above this median.

• Venkateswara Nagar: Rs 400 per sq.ft (2024)
• Sri Vathsa Nagar Phasei: Rs 500 per sq.ft (2024)
• Sri Vathsa Nagar Phase2: Rs 500 per sq.ft (2024)
• V.K.N.Garden: Rs 700 per sq.ft (2024)
• Sri Ramanujar Nagar: Rs 500 per sq.ft (2024)
• Sri Hayagreevar Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Trinty Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total guideline value amounts to Rs 5,00,000. The stamp duty is charged at 7%, totaling Rs 35,000, while the registration fee is 2%, amounting to Rs 10,000. Therefore, the total fees together would be Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Trinty Avenue?

The Sub Registrar Office that covers Trinty Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Maiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as per the established guidelines.

Frequently asked questions

What is the current guideline value of Trinty Avenue?

The current guideline value of Trinty Avenue is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 500 per sq.ft since 2012, with a decrease to Rs 335 per sq.ft in 2017, followed by an increase back to Rs 500 per sq.ft in 2023. The 2024 revision maintains this value.

What are the guideline values of other streets in Maiyur?

Other streets in Maiyur have varying guideline values, with rates ranging from Rs 200 to Rs 700 per sq.ft. Trinty Avenue's value is above the median of Rs 400 per sq.ft.

What fees are associated with buying property in Trinty Avenue?

When purchasing property in Trinty Avenue, the buyer 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 Trinty Avenue?

The Sub Registrar Office for Trinty Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information through the provided link.