Guideline Value for Ezhil Avenue

Ezhil Avenue guideline value

The current guideline value of Ezhil Avenue in Nandhivaram village is Rs 1,000 per sq.ft, effective from 1 July 2024. This area falls under the Gooduvancheri SRO and is classified as Residential Class II Type - I.

How the guideline value of Ezhil Avenue has changed

The guideline value for Ezhil Avenue has seen several revisions over the years. In 2002, the value was Rs 94 per sq.ft, which increased significantly to Rs 328 per sq.ft in 2007. This was followed by a substantial rise to Rs 1,000 per sq.ft in 2012. However, in 2017, the value decreased to Rs 670 per sq.ft, before climbing back to Rs 1,000 per sq.ft in both 2023 and 2024, showing no change between these two years.

Notably, there is no figure available for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 964%, demonstrating significant growth over the years.

Guideline values in Nandhivaram

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

• Ganapathy Nagar: Rs 2,000 per sq.ft (2024)
• Ganapathy Nagar Extn.: Rs 2,000 per sq.ft (2024)
• Gandhi Nagar 1to 3 Streets: Rs 1,500 per sq.ft (2024)
• Gandhi Street: Rs 1,500 per sq.ft (2024)
• Ganesh Nagar: Rs 1,000 per sq.ft (2024)
• Droupathi Amman Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Ezhil Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the 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, totaling Rs 90,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Ezhil Avenue?

The Sub Registrar Office that covers Ezhil 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 is a crucial factor during the registration of property transactions in Nandhivaram. It serves as a benchmark to determine the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. This value is particularly important for calculating the applicable taxes and fees associated with the transaction.

Frequently asked questions

What is the current guideline value of Ezhil Avenue?

The current guideline value of Ezhil 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 changed from Rs 94 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, with various revisions in between, including a peak in 2012 and a drop in 2017.

What is the median guideline value in Nandhivaram?

The median guideline value for streets in Nandhivaram is Rs 1,500 per sq.ft, while Ezhil Avenue's current value is below this median.

What is the stamp duty rate for properties in Ezhil Avenue?

The stamp duty rate for properties in Ezhil Avenue is 7%, which is calculated on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Ezhil Avenue located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.