Guideline Value for 4TH AVENUE (New Colony)

4TH AVENUE (New Colony) guideline value

The current guideline value of 4TH AVENUE (New Colony) is Rs 15,900 per sq.ft, effective from 1 July 2024. This street is located in Naduvakkarai village and falls under the AnnaNagar SRO. The land classification for this area is Commercial Class I Type - I.

How the guideline value of 4TH AVENUE (New Colony) has changed

The guideline value for 4TH AVENUE (New Colony) has seen several revisions over the years. The 2012 revision set the guideline value at Rs 14,500 per sq.ft, which was then reduced to Rs 9,715 per sq.ft in 2017. This was a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 14,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 has further increased the value to Rs 15,900 per sq.ft, marking a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Naduvakkarai

Naduvakkarai village has a total of 148 streets under the AnnaNagar SRO, with guideline values ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median guideline value for this area is Rs 11,500 per sq.ft, positioning 4TH AVENUE (New Colony) above this median.

• 5th Street – 30 (Except Plot no 3347): Rs 11,500 per sq.ft (2024)
• 5th Street – 30 (Plot no 3347 only): Rs 11,500 per sq.ft (2024)
• 3RD AVENUE (New Colony): Rs 15,900 per sq.ft (2024)
• Y Block 3rd Street: Rs 12,600 per sq.ft (2024)
• Y Block 1st Street: Rs 12,600 per sq.ft (2024)
• X Block Second Avenue C-45A,C46,C46A, B,C 47 C48 Ayyappa Temple Avin LIC Office, Tower Block, TNHB Office: Rs 15,900 per sq.ft (2024)

Stamp duty and registration fee for property in 4TH AVENUE (New Colony)

For a 1,000 sq.ft plot at the current guideline value of Rs 15,900 per sq.ft, the total guideline value would be Rs 1,59,00,000. The stamp duty at 7% would amount to Rs 11,13,000, and the registration fee at 2% would be Rs 3,18,000, making the total charges Rs 14,31,000. It is essential to note that 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 4TH AVENUE (New Colony)?

The Sub Registrar Office that covers 4TH AVENUE (New Colony) is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, you can visit the provided link.

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

The guideline value is a crucial factor when buying or selling property in Naduvakkarai. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the transaction is in line with the official valuation set by the Registration Department.

When a buyer or seller approaches the registration office, the guideline value is referenced to calculate the applicable stamp duty and registration fees. This ensures that all transactions are transparent and adhere to the established legal framework.

Frequently asked questions

What is the current guideline value of 4TH AVENUE (New Colony)?

The current guideline value of 4TH AVENUE (New Colony) 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 changed from Rs 14,500 per sq.ft in 2012 to Rs 9,715 per sq.ft in 2017, followed by an increase to Rs 14,500 per sq.ft in 2023, and finally to Rs 15,900 per sq.ft in 2024.

What is the land classification for 4TH AVENUE (New Colony)?

The land classification for 4TH AVENUE (New Colony) is Commercial Class I Type - I, indicating its use for commercial purposes.

Where can I find the registration office for 4TH AVENUE (New Colony)?

The registration office for 4TH AVENUE (New Colony) is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the guideline value used in property transactions?

The guideline value is used to determine the minimum price for property registration and is essential for calculating the stamp duty and registration fees during a transaction. It ensures that all property transactions are conducted transparently and legally.