Guideline Value for IT AVENUE (N)

It Avenue (N) guideline value

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

The guideline value for It Avenue (N) has undergone several revisions over the years. In 2012, the guideline value was Rs 900 per sq.ft, which then decreased to Rs 603 per sq.ft in 2017, marking a decline of 33%. However, in 2023, the value rose to Rs 900 per sq.ft, and in the latest revision for 2024, it increased by 10% to Rs 990 per sq.ft.

From 2017 to 2023, there was a significant increase of 49%, bringing the value back to its 2012 figure. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median value is Rs 990 per sq.ft, which is equal to the current guideline value of It Avenue (N).

• 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 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, bringing the total fees to Rs 89,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further 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 Panangottur

The guideline value is a crucial factor when registering property transactions in Panangottur. It serves as a reference point for determining the stamp duty and registration fees that need to be paid during the property registration process.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. Buyers and sellers should be aware of the current guideline value to avoid any discrepancies during the registration of the property.

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 back 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 registration office for It Avenue (N)?

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

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the stamp duty would be Rs 69,300.