Guideline Value for FRIENDS AVENUE

Friends Avenue guideline value

The current guideline value of Friends Avenue, located in Nanmangalam village under the Pallavaram SRO, is Rs 1,980 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class I Type - III land classification.

How the guideline value of Friends Avenue has changed

The guideline value for Friends Avenue has seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 1,206 per sq.ft. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,800 per sq.ft in 2023. The most recent 2024 revision has increased the guideline value to Rs 1,980 per sq.ft, reflecting a 10% rise from the previous year.

There are no figures available for Friends Avenue in the revisions of 2002, 2003, and 2007, as the register does not contain any data for these years. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO, with guideline values ranging from Rs 1,960 to Rs 3,850 per sq.ft in 2024. The median guideline value for these streets is Rs 2,750 per sq.ft, indicating that Friends Avenue's guideline value is below this median.

• Friends Avenue Annex: Rs 3,850 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, the total cost for stamp duty and registration fee would be Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Friends Avenue?

The Friends Avenue area is covered by the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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 property can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are essential for completing the transaction legally.

Frequently asked questions

What is the current guideline value of Friends Avenue?

The current guideline value of Friends Avenue is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

What is the median guideline value in Nanmangalam?

The median guideline value in Nanmangalam is Rs 2,750 per sq.ft, which is higher than the current value of Friends Avenue.

What are the registration fees for property in Friends Avenue?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Friends Avenue located?

The Pallavaram Sub Registrar Office is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone.