Guideline Value for Big Street

Big Street guideline value

The current guideline value of Big Street in Nandhivaram village is Rs 1,200 per sq.ft, effective from 1 July 2024. This street falls under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Big Street has changed

The guideline value for Big Street has undergone several revisions over the years. The 2007 revision set the value at Rs 328 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in the 2012 revision. However, the value dropped to Rs 804 per sq.ft in 2017, before stabilizing at Rs 1,200 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years. The register has no figure for this street for the years 2002 and 2003.

From 2017 to 2023, the guideline value increased by 49%, and from 2012 to 2017, it decreased by 33%. The substantial rise from 2007 to 2012 was 266%, and overall, from 2007 to 2024, the guideline value has increased by 266%.

Guideline values in Nandhivaram

Nandhivaram has a total of 169 streets under the Gooduvancheri SRO, with guideline values for 2024 ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,500 per sq.ft, placing Big Street's 2024 figure below that median.

• Bhavanipuram Extn.: Rs 1,200 per sq.ft (2024)
• Bhavanipuram: Rs 1,200 per sq.ft (2024)
• Brahmin Street: Rs 1,200 per sq.ft (2024)
• Bharath Avenue: Rs 1,200 per sq.ft (2024)
• Balasubramaniyam Nagar: Rs 1,500 per sq.ft (2024)
• Chinnappan Avenue (Near by G.S.T Road): Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Big Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total 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, totaling Rs 1,08,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Big Street?

The Sub Registrar Office that covers Big Street 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 is a crucial factor in property transactions in Nandhivaram, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties are aware of the financial implications of the transaction.

It is essential for buyers and sellers to understand that the guideline value is updated periodically, and it reflects the prevailing market conditions for various properties in the area. This value is used by the Registration Department to ensure that the property is registered at a fair value, which is important for taxation purposes.

Frequently asked questions

What is the current guideline value of Big Street?

The current guideline value of Big Street is Rs 1,200 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 revisions being Rs 1,200 per sq.ft for both 2023 and 2024. The value was Rs 804 per sq.ft in 2017 and Rs 1,200 per sq.ft in 2012.

What is the land classification of Big Street?

Big Street is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for property in Big Street?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which office handles registrations for Big Street?

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