Guideline Value for Tellus Avenue Phase-I

Tellus Avenue Phase-I guideline value

The current guideline value of Tellus Avenue Phase-I is Rs 1,200 per sq.ft. This property is located in Mambakkam village and falls under the Gooduvancheri SRO. The land classification for this area is Commercial Class I Type - II.

How the guideline value of Tellus Avenue Phase-I has changed

The guideline value for Tellus Avenue Phase-I has undergone several revisions over the years. In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. However, this figure remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft, reflecting a decrease of 33%. The most recent revision in 2023 saw a significant increase to Rs 1,200 per sq.ft, marking a rise of 49% from the 2017 figure.

Overall, when comparing the 2012 and 2023 revisions, there has been no change in the guideline value, remaining at Rs 1,200 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2024 for this street.

Guideline values in Mambakkam

While specific village figures are not provided, Tellus Avenue Phase-I is positioned within the Mambakkam area. Unfortunately, there are no other streets in Mambakkam listed under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Tellus Avenue Phase-I

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty, charged at 7%, would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000. Together, the total amount for these fees would be Rs 1,08,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Tellus Avenue Phase-I?

The Sub Registrar Office that covers Tellus Avenue Phase-I is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process when buying or selling property in Mambakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these costs are calculated accurately based on the property's value.

When a property is registered, the higher of the guideline value or the sale price is used to assess the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Tellus Avenue Phase-I?

The current guideline value of Tellus Avenue Phase-I is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value for Tellus Avenue Phase-I has seen various changes, with a significant drop from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, followed by a rise back to Rs 1,200 per sq.ft in 2023.

What is the land classification for Tellus Avenue Phase-I?

The land classification for Tellus Avenue Phase-I is Commercial Class I Type - II, indicating its designation for commercial use.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, resulting in a total of Rs 1,08,000 in fees.

Which Sub Registrar Office covers Tellus Avenue Phase-I?

The Gooduvancheri Sub Registrar Office covers Tellus Avenue Phase-I, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.