Guideline Value for IT AVENUE (N)

It Avenue (N) guideline value

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

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

Since 2012, the guideline value for It Avenue (N) has seen several revisions. The value was Rs 900 per sq.ft in 2012, which decreased to Rs 603 per sq.ft in 2017. Following this, it increased significantly to Rs 900 per sq.ft in 2023, and then to Rs 990 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2017 to 2023, the value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

In Ninna Karai village, there are 449 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, making the guideline value for It Avenue (N) below this median.

• Inidirajan (N): Rs 660 per sq.ft (2024)
• Indra Nagar Nehru Street (Ward -19): Rs 660 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 1,321 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 rate of Rs 990 per sq.ft, the guideline value would be Rs 9,90,000. The stamp duty at 7% would amount to Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. Please note that duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Ninna Karai. It serves as the basis for calculating stamp duty and registration fees, which are mandatory during the transfer of property ownership.

When you buy or sell property, the guideline value ensures that the transaction is documented at a recognized value, which helps maintain transparency and legality in property dealings. It is essential to be aware of the current guideline value to understand the financial implications of your property transaction.

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 to Rs 900 per sq.ft in 2023, and finally to Rs 990 per sq.ft in 2024.

What is the median guideline value in Ninna Karai?

The median guideline value for streets in Ninna Karai is Rs 1,100 per sq.ft, with It Avenue (N) currently below this median.

What are the stamp duty and registration fees for It Avenue (N)?

For a 1,000 sq.ft plot at Rs 990 per sq.ft, the total guideline value is Rs 9,90,000. The stamp duty would be Rs 69,300, and the registration fee would be Rs 19,800, totaling Rs 89,100.

Where can I find the Sub Registrar Office for It Avenue (N)?

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