Guideline Value for IT AVENUE (N)

It Avenue (N) guideline value

The current guideline value of It Avenue (N) in Sattamangalam 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. The earliest recorded figure is from 2012, which was Rs 900 per sq.ft. This was followed by a decrease to Rs 603 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased significantly to Rs 900 per sq.ft, and the latest revision in 2024 shows a further rise to Rs 990 per sq.ft, representing a 10% increase from the previous year.

There are no recorded figures for It Avenue (N) in the years 2002, 2003, and 2007. The overall change from the 2012 figure to the 2024 figure shows a modest increase of 10%.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing It Avenue (N) below this median.

• Jai Avenue: Rs 660 per sq.ft (2024)
• 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 660 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 cost for these fees to Rs 89,100. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers It Avenue (N)?

The Sub Registrar Office covering 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 Sattamangalam

When buying or selling property in Sattamangalam, the guideline value is a crucial factor that determines the stamp duty and registration fees. These fees are calculated based on the guideline value or the sale price, whichever is higher, ensuring that the government receives the appropriate revenue from property transactions.

It is essential for both buyers and sellers to be aware of the current guideline values as they directly impact the financial aspects of property transactions. Understanding these values can help in making informed decisions during the buying or selling process.

Frequently asked questions

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

The current guideline value for 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 are the stamp duty and registration fees for It Avenue (N)?

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

Which Sub Registrar Office covers It Avenue (N)?

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

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

It Avenue (N) is classified as Residential Class I Type - II under the current land classification guidelines.