Guideline Value for FEES AVENUE PHASE -I

Fees Avenue Phase -I guideline value

The current guideline value of Fees Avenue Phase -I is Rs 100 per sq.ft, effective from 1 July 2024. This property is located in Neidavoyal village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Fees Avenue Phase -I has changed

The guideline value for Fees Avenue Phase -I has seen several revisions over the years. In 2017, the value was Rs 67 per sq.ft, which increased to Rs 100 per sq.ft in both the 2023 and 2024 revisions, marking a significant increase of 49% from 2017 to 2023 and maintaining the same rate into 2024. The register has no figure for this street in the years 2002, 2003, 2007, 2012.

From 2023 to 2024, there has been no change in the guideline value, remaining at Rs 100 per sq.ft. Overall, from 2017 to 2024, the guideline value has increased by 49%.

Guideline values in Neidavoyal

In Neidavoyal, there are four streets under the Ponneri SRO that carry a 2024 guideline value, all set at Rs 100 per sq.ft, with the median also being Rs 100 per sq.ft. Fees Avenue Phase -I's 2024 figure is equal to this median.

• Gayathri Nagar: Rs 100 per sq.ft (2024)
• Lakshmi Narayana Nagar: Rs 100 per sq.ft (2024)
• Vasantham Nagar: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Fees Avenue Phase -I

For a 1,000 sq.ft plot at the current guideline value of Rs 100 per sq.ft, the total guideline value would be Rs 1,00,000. The stamp duty at 7% would amount to Rs 7,000, and the registration fee at 2% would be Rs 2,000, leading to a total of Rs 9,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Fees Avenue Phase -I?

The Fees Avenue Phase -I falls under the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration process when buying or selling property. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid at the time of registration.

When a property is sold, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and financial purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for Fees Avenue Phase -I?

The current guideline value for Fees Avenue Phase -I is Rs 100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 67 per sq.ft to Rs 100 per sq.ft, representing a 49% increase overall.

What is the stamp duty rate applicable for properties in Fees Avenue Phase -I?

The stamp duty rate applicable for properties in Fees Avenue Phase -I is 7% of the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers the registration for Fees Avenue Phase -I?

The Ponneri Sub Registrar Office covers the registration for Fees Avenue Phase -I, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is the guideline value determined for properties in Neidavoyal?

The guideline value for properties in Neidavoyal is determined by the Registration Department's guideline value register. It is revised periodically to reflect changes in property values in the area.