Guideline Value for KIYYUR NISHA AVENUE

Kiyyur Nisha Avenue guideline value

The current guideline value of Kiyyur Nisha Avenue is Rs 2,750 per sq.ft. This street is located in Nanmangalam village, under the Pallavaram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Kiyyur Nisha Avenue has changed

Over the years, the guideline value of Kiyyur Nisha Avenue has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, but this was followed by a decrease to Rs 1,675 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 2,500 per sq.ft, and the most recent 2024 revision has further increased it to Rs 2,750 per sq.ft. Note that there are no figures available for the revisions in 2002, 2003, and 2007.

Specifically, the changes between the revisions are as follows: from 2012 to 2017, there was a decrease of 33%, followed by an increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Nanmangalam

Nanmangalam village has a total of 139 streets under the Pallavaram SRO that carry a 2024 guideline value, ranging from Rs 1,960 to Rs 3,850 per sq.ft. The median value for these streets is Rs 2,750 per sq.ft, which is equal to the current guideline value of Kiyyur Nisha Avenue.

• K.B.Nagar: Rs 3,300 per sq.ft (2024)
• Kayathri Nagar: Rs 1,980 per sq.ft (2024)
• Kavingar Kannadasan Street: Rs 2,750 per sq.ft (2024)
• Kovalan Street: Rs 1,960 per sq.ft (2024)
• Kowsalya Nagar: Rs 1,980 per sq.ft (2024)
• Karunai Sekaran Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Kiyyur Nisha Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total cost to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Kiyyur Nisha Avenue?

Kiyyur Nisha Avenue falls under the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, 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 Nanmangalam

The guideline value plays a crucial role in the registration process of property transactions in Nanmangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value, as it affects the overall cost of the transaction. It is essential to verify the current guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of Kiyyur Nisha Avenue?

The current guideline value of Kiyyur Nisha Avenue is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What is the land classification for Kiyyur Nisha Avenue?

Kiyyur Nisha Avenue is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Kiyyur Nisha Avenue?

The Pallavaram Sub Registrar Office covers Kiyyur Nisha Avenue and is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How is the stamp duty calculated for properties in Kiyyur Nisha Avenue?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For a 1,000 sq.ft plot at the current guideline value, the stamp duty would amount to Rs 1,92,500.