Guideline Value for Abhay Avenue

Abhay Avenue guideline value

The current guideline value of Abhay Avenue is Rs 1,000 per sq.ft. This property is located in Nandhivaram village, under the jurisdiction of the Gooduvancheri SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Abhay Avenue has changed

The guideline value for Abhay Avenue has undergone several revisions over the years. In the 2012 revision, the value was set at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 670 per sq.ft. This was a significant drop of 33%. However, the value saw a substantial increase of 49% in the 2023 revision, bringing it back to Rs 1,000 per sq.ft, which has remained consistent in the 2024 revision.

For the years 2002, 2003, and 2007, the register has no figure for this street. The current guideline value of Rs 1,000 per sq.ft, effective from 1 July 2024, shows no change from the previous year, indicating stability in this valuation.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Abhay Avenue's 2024 figure below this median.

• Adiparasakthi Nagar: Rs 1,500 per sq.ft (2024)
• Akshaya Homes: Rs 3,500 per sq.ft (2024)
• A.L.S. Avenue: Rs 1,000 per sq.ft (2024)
• A.L.S. Avenue Extn: Rs 1,000 per sq.ft (2024)
• Ambal Nagar: Rs 1,500 per sq.ft (2024)
• Ambedkar Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Abhay Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees together to Rs 90,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Abhay Avenue?

The Sub Registrar Office that covers Abhay Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, 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 Nandhivaram

The guideline value plays a crucial role during the registration of property transactions in Nandhivaram. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the transaction is appropriately valued according to government standards.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. It helps in ensuring that the property is registered at a value that reflects its worth in the eyes of the law, thereby facilitating a smoother transaction process.

Frequently asked questions

What is the current guideline value of Abhay Avenue?

The current guideline value of Abhay Avenue is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, with the most recent being Rs 1,000 per sq.ft in both the 2023 and 2024 revisions. It was Rs 670 per sq.ft in 2017 and Rs 1,000 per sq.ft in 2012.

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

For a property valued at Rs 10,00,000, the stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Abhay Avenue?

The Gooduvancheri Sub Registrar Office handles registrations for Abhay Avenue, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the land classification for Abhay Avenue?

Abhay Avenue is classified as Residential Class II Type - I, which indicates its suitability for residential development within the area.