Guideline Value for IT AVENUE (N)

It Avenue (N) guideline value

The current guideline value of It Avenue (N) is Rs 990 per sq.ft, effective from 1 July 2024. This street is located in Kattankollatur village under the Chengleput Joint II SRO, classified as Residential Class I Type - II.

How the guideline value of It Avenue (N) has changed

Over the years, the guideline value of It Avenue (N) has seen several revisions. The 2012 revision set the value at Rs 900 per sq.ft, which was followed by a decrease to Rs 603 per sq.ft in the 2017 revision. From 2017 to 2023, the value increased significantly by 49% to reach Rs 900 per sq.ft. The most recent revision in 2024 has further increased the guideline value to Rs 990 per sq.ft, marking a 10% rise from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has seen a slight increase of 10%.

Guideline values in Kattankollatur

Kattankollatur village has a total of 453 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,612 per sq.ft in 2024. The median guideline value for the village is Rs 1,100 per sq.ft, placing It Avenue (N) below this median.

• Inidirajan (N): Rs 660 per sq.ft (2024)
• Indra Nagar Nehru Street (Ward -19): Rs 440 per sq.ft (2024)
• Indira Ganthi Nagar (N): Rs 660 per sq.ft (2024)
• India Piston (Pa): Rs 550 per sq.ft (2024)
• Indhu Garden (Sa): Rs 440 per sq.ft (2024)
• Imayavaramban Street (Ward -4): Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in It Avenue (N)

For a 1,000 sq.ft plot at the current guideline value of Rs 990 per sq.ft, the total guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. 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 It Avenue (N)?

The Sub Registrar Office that covers It Avenue (N) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kattankollatur

The guideline value is a crucial factor during the registration of property transactions in Kattankollatur. It serves as the minimum value on which stamp duty and registration fees are calculated. Buyers and sellers must be aware of the current guideline value to ensure compliance with the legal requirements during property transactions.

When a property is sold, the sale price cannot be lower than the guideline value. This ensures that the government receives appropriate revenue through stamp duty and registration fees based on the guideline value or the actual sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of It Avenue (N)?

The current guideline value of It Avenue (N) is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2012 to Rs 603 per sq.ft in 2017, then increased to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the land classification of It Avenue (N)?

It Avenue (N) is classified as Residential Class I Type - II under the Chengleput Joint II SRO.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in It Avenue (N)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 9,90,000, the stamp duty would be Rs 69,300.