Guideline Value for 2nd Avenue

2nd Avenue guideline value

The current guideline value of 2nd Avenue in Thirumangalam village is Rs 15,900 per sq.ft, effective from 1 July 2024. This area falls under the AnnaNagar SRO and is classified as Commercial Special Type - I.

How the guideline value of 2nd Avenue has changed

In the 2012 revision, the guideline value was recorded at Rs 14,500 per sq.ft. This figure was then reduced to Rs 9,715 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value saw a significant increase in the following years, rising to Rs 14,500 per sq.ft in 2023, and then to Rs 15,900 per sq.ft in 2024, which is a 10% increase from the previous year. The overall change from 2012 to 2024 shows a modest increase of 10%.

The register has no figures for the years 2002, 2003, and 2007 for this street. The 2023 revision marked a 49% increase from the 2017 revision, reflecting the fluctuations in the guideline value over the years.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, placing 2nd Avenue's current figure above this median.

• 7 th Avenue, 100 feet Road: Rs 13,200 per sq.ft (2024)
• 7th Avenue, Ambedkar Statute to old Thirumangalam, End Point Facing East West and West East Both sides coovam River Area near Bridge: Rs 13,200 per sq.ft (2024)
• 7th Avenue Appolo Flats: Rs 13,200 per sq.ft (2024)
• 7th Avenue Bharathi Colony: Rs 13,200 per sq.ft (2024)
• 7th Avenue , “L” West Appolo Flats: Rs 13,200 per sq.ft (2024)
• Y- Block (West) 1593, 3013, 3065 2907 (Near Natesan Co-operative Training Institute) 13th Main Road: Rs 13,200 per sq.ft (2024)

Stamp duty and registration fee for property in 2nd Avenue

For a 1,000 sq.ft plot at the current rate of Rs 15,900 per sq.ft, the guideline value totals Rs 1,59,00,000. The stamp duty at 7% would be Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, bringing the total to Rs 14,31,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers 2nd Avenue?

The 2nd Avenue falls under the AnnaNagar Sub Registrar Office located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Thirumangalam, as it determines the minimum value at which a property can be registered. Buyers should be aware that the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs in any property transaction.

When selling property, the guideline value helps establish a baseline for negotiations. It ensures that the property is not undervalued during the registration process, protecting both the buyer and seller from potential disputes regarding property valuation.

Frequently asked questions

What is the current guideline value of 2nd Avenue?

The current guideline value of 2nd Avenue is Rs 15,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has fluctuated, starting from Rs 14,500 per sq.ft in 2012, decreasing to Rs 9,715 per sq.ft in 2017, then rising to Rs 14,500 per sq.ft in 2023, and finally reaching Rs 15,900 per sq.ft in 2024.

What is the land classification for 2nd Avenue?

2nd Avenue is classified as Commercial Special Type - I under the guideline value register.

What is the median guideline value in Thirumangalam?

The median guideline value for the 149 streets in Thirumangalam is Rs 11,500 per sq.ft, with 2nd Avenue's current value being above this median.

Where can I find the registration office for 2nd Avenue?

The registration office covering 2nd Avenue is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.