Guideline Value for Theeraj Avenue

Theeraj Avenue guideline value

The current guideline value of Theeraj Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Mudichur village, under the Padappai Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of Theeraj Avenue has changed

The guideline value for Theeraj Avenue has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. This increased to Rs 2,000 per sq.ft in 2023, marking a 49% rise. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Mudichur

The guideline values for properties in Mudichur vary significantly, with 135 streets under the Padappai SRO carrying a 2024 figure ranging from Rs 880 to Rs 4,000 per sq.ft. Theeraj Avenue's current guideline value of Rs 2,200 per sq.ft is equal to the median value for the area.

• Thirumalai Nagar: Rs 2,200 per sq.ft (2024)
• Tambaram to Mudichur Road: Rs 3,630 per sq.ft (2024)
• Tambaram Mudichur Co-Operative Mahanagar: Rs 3,650 per sq.ft (2024)
• Tambaram - Manimangalam Road: Rs 2,200 per sq.ft (2024)
• Swamy Nagar: Rs 3,630 per sq.ft (2024)
• Suraj Avenue Extension: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Theeraj Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Theeraj Avenue?

Theeraj Avenue falls under the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mudichur. It serves as a benchmark for determining the stamp duty and registration fees, which are essential components of the property transaction process.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the financial obligations involved in the transaction. This value helps maintain transparency and consistency in property dealings within the region.

Frequently asked questions

What is the current guideline value of Theeraj Avenue?

The current guideline value of Theeraj Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 1,340 per sq.ft to Rs 2,200 per sq.ft in 2024, reflecting a total increase of 64% over the years.

What is the land classification for Theeraj Avenue?

The land classification for Theeraj Avenue is Residential Special Type - I, indicating its suitability for residential development.

Where can I find the registration office for Theeraj Avenue?

The registration office covering Theeraj Avenue is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher, while the registration fee is charged at 2% of the same amount. For example, for a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.