Guideline Value for HAVA NAGAR

Hava Nagar guideline value

The current guideline value of Hava Nagar, located in Mitnamalle village under the Avadi SRO, is Rs 802 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class II Type - I land classification.

How the guideline value of Hava Nagar has changed

The guideline value of Hava Nagar has seen several revisions over the years. In 2012, the guideline value was Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. However, in 2023, it increased to Rs 600 per sq.ft, followed by a significant rise to Rs 802 per sq.ft in 2024, marking an overall increase of 34% from 2012 to 2024.

From 2017 to 2023, the value increased by 49%, and the jump from 2023 to 2024 was 34%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Mitnamalle

In Mitnamalle, there are 53 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 2,550 per sq.ft, with the median being Rs 802 per sq.ft. Hava Nagar's 2024 guideline value aligns with this median.

• High School St: Rs 804 per sq.ft (2024)
• Happy Garden: Rs 802 per sq.ft (2024)
• Guru Duwara St: Rs 806 per sq.ft (2024)
• Ganesh Nagar: Rs 806 per sq.ft (2024)
• Gandhi Road: Rs 802 per sq.ft (2024)
• Gandhi 2nd Cross: Rs 802 per sq.ft (2024)

Stamp duty and registration fee for property in Hava Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 802 per sq.ft, the total guideline value amounts to Rs 8,02,000. The stamp duty at 7% would be Rs 56,140, and the registration fee at 2% would be Rs 16,040, bringing the total to Rs 72,180. 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 details.

Which Sub Registrar Office covers Hava Nagar?

The Sub Registrar Office that covers Hava Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during property registration in Mitnamalle. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When buying or selling property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Hava Nagar?

The current guideline value of Hava Nagar is Rs 802 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 802 per sq.ft in 2024.

What is the land classification of Hava Nagar?

Hava Nagar falls under the Residential Class II Type - I land classification.

Where is the Avadi Sub Registrar Office located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is the stamp duty calculated for property in Hava Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 8,02,000, the stamp duty would be Rs 56,140 at a rate of 7%.