Guideline Value for FRIENDS AVENUE ANNEX

Friends Avenue Annex guideline value

The current guideline value of Friends Avenue Annex is Rs 3,850 per sq.ft, effective from 1 July 2024. This property is located in Nanmangalam village under the Pallavaram SRO, with a land classification of Mixed Type - I.

How the guideline value of Friends Avenue Annex has changed

Over the years, the guideline value for Friends Avenue Annex has seen several revisions. The register has no figure for this street in 2002, 2003, 2007, 2012, and 2017. In the 2023 revision, the guideline value was set at Rs 3,500 per sq.ft, which was an increase from the previous figure. The latest revision in 2024 has raised the guideline value to Rs 3,850 per sq.ft, reflecting a 10% increase from the 2023 figure.

This increase positions Friends Avenue Annex above the median guideline value for streets in Nanmangalam, which is Rs 2,750 per sq.ft, based on the 2024 figures.

Guideline values in Nanmangalam

In Nanmangalam, there are 139 streets under the Pallavaram SRO that have a guideline value for 2024 ranging from Rs 1,960 to Rs 3,850 per sq.ft. Friends Avenue Annex's guideline value is notably above the median of Rs 2,750 per sq.ft. Below are the guideline values for other streets in Nanmangalam:

• Friends Avenue: Rs 1,980 per sq.ft (2024)
• Gandhi Salai: Rs 1,960 per sq.ft (2024)
• Elumalai Salai 1 To 7 Streets: Rs 2,750 per sq.ft (2024)
• Elumalai Salai: Rs 2,750 per sq.ft (2024)
• Elango Street: Rs 1,960 per sq.ft (2024)
• Ganesh Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Friends Avenue Annex

For a 1,000 sq.ft plot at the current guideline value of Rs 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, bringing the total to Rs 3,46,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more accurate estimates.

Which Sub Registrar Office covers Friends Avenue Annex?

The Friends Avenue Annex property falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a critical factor in property transactions in Nanmangalam, as it determines the minimum value at which a property can be registered. When a property is sold, the buyer and seller must ensure that the sale price is at least equal to the guideline value to avoid any legal complications during registration.

Additionally, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Friends Avenue Annex?

The current guideline value of Friends Avenue Annex is Rs 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Friends Avenue Annex has increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024, reflecting a 10% increase. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What is the median guideline value for streets in Nanmangalam?

The median guideline value for streets in Nanmangalam is Rs 2,750 per sq.ft based on the 2024 figures. Friends Avenue Annex's guideline value is above this median.

What are the stamp duty and registration fees for a property in Friends Avenue Annex?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500, and the registration fee would be Rs 77,000, totaling Rs 3,46,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registration for Friends Avenue Annex?

The Pallavaram Sub Registrar Office handles property registration for Friends Avenue Annex, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.