Guideline Value for JAWAHARLAL NEHRU ROAD (7TH AVENUE)

Jawaharlal Nehru Road (7th Avenue) guideline value

The current guideline value of Jawaharlal Nehru Road (7th Avenue) is Rs 13,100 per sq.ft, effective from 1 July 2024. This road is located in Padi village, under the Villivakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Jawaharlal Nehru Road (7th Avenue) has changed

In the 2012 revision, the guideline value was Rs 12,000 per sq.ft. This value decreased to Rs 8,040 per sq.ft in 2017, marking a change of -33%. However, from 2017 to 2023, the value saw a significant increase to Rs 12,000 per sq.ft, which is a rise of 49%. The most recent revision in 2024 has set the value at Rs 13,100 per sq.ft, reflecting a 9% increase 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 increased by 9%.

Guideline values in Padi

Padi village has 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, placing Jawaharlal Nehru Road (7th Avenue) above this median.

• Jagadambikai Street: Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'sekhizhar Street': Rs 3,400 per sq.ft (2024)
• Jeevan Bhima Nagar (Lic Flats): Rs 6,600 per sq.ft (2024)
• Jagadambikai Nagar (Padi): Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'nammalvar Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'manikavasakar Street': Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jawaharlal Nehru Road (7th Avenue)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,100 per sq.ft, the total guideline value amounts to Rs 1,31,00,000. The stamp duty at 7% would be Rs 9,17,000, and the registration fee at 2% would be Rs 2,62,000, bringing the total cost for these fees to Rs 11,79,000. It is important to 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 Jawaharlal Nehru Road (7th Avenue)?

The Sub Registrar Office that covers Jawaharlal Nehru Road (7th Avenue) is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padi. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

Frequently asked questions

What is the current guideline value of Jawaharlal Nehru Road (7th Avenue)?

The current guideline value of Jawaharlal Nehru Road (7th Avenue) is Rs 13,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 12,000 per sq.ft in 2012, dropping to Rs 8,040 per sq.ft in 2017, then increasing to Rs 12,000 per sq.ft in 2023, and finally reaching Rs 13,100 per sq.ft in 2024.

What is the land classification of Jawaharlal Nehru Road (7th Avenue)?

Jawaharlal Nehru Road (7th Avenue) is classified as Residential Special Type - I.

What are the other streets in Padi and their guideline values?

Other streets in Padi include Jagadambikai Street, Jagadambikai Nagar 'sekhizhar Street', Jeevan Bhima Nagar (Lic Flats), and more, with values ranging from Rs 3,400 to Rs 6,600 per sq.ft.

Where can I find the Sub Registrar Office for Jawaharlal Nehru Road (7th Avenue)?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles registrations for properties in this area.