Guideline Value for Tellus Avenue

Tellus Avenue guideline value

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

How the guideline value of Tellus Avenue has changed

In the 2012 revision, the guideline value was set at Rs 1,200 per sq.ft. This remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft, marking a decline of 33%. However, the 2023 revision brought a significant increase, raising the guideline value back to Rs 1,200 per sq.ft, representing a 49% increase from the 2017 figure.

Overall, from the 2012 revision to the 2023 revision, the guideline value has not changed, 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

Currently, there are no specific village figures provided for Mambakkam. Tellus Avenue is one of the streets under the Gooduvancheri SRO, and there are no other streets in Mambakkam listed with guideline values.

Stamp duty and registration fee for property in Tellus Avenue

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Tellus Avenue?

The Sub Registrar Office that covers Tellus Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when buying or selling property in Mambakkam, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory for property transactions.

When a buyer or seller approaches the registration office, the guideline value serves as a benchmark for the transaction. It ensures that the property is not undervalued, thereby securing the government’s revenue from stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Tellus Avenue?

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

How has the guideline value changed over the years?

The guideline value changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, a decrease of 33%. It then increased back to Rs 1,200 per sq.ft in 2023, marking a 49% increase from the 2017 figure.

Is there any guideline value for Tellus Avenue in 2024?

No, the register has no figure for Tellus Avenue in 2024.

What are the stamp duty and registration fees for property in Tellus Avenue?

The stamp duty is charged at 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total cost would be Rs 1,08,000 including both fees.

Where is the Sub Registrar Office for Tellus Avenue located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.