Guideline Value for N.A.S.AVENUE

N.A.S.Avenue guideline value

The current guideline value of N.A.S.Avenue in Korattur village under the Villivakkam SRO is Rs 2,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class II Type - II.

How the guideline value of N.A.S.Avenue has changed

The guideline value for N.A.S.Avenue has undergone several revisions over the years. In 2002, the value was Rs 56 per sq.ft, which increased significantly to Rs 375 per sq.ft in 2007, marking a change of +570%. The value remained unchanged at Rs 2,700 per sq.ft from 2012 until 2023, after which it rose to Rs 2,900 per sq.ft in 2024, reflecting a +7% increase.

There are no figures available for the years 2003 and 2017 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +5079%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values in 2024 ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value is Rs 2,500 per sq.ft, placing N.A.S.Avenue's 2024 figure above this median.

• N.A.S.Garden: Rs 2,900 per sq.ft (2024)
• National High Ways Road: Rs 2,900 per sq.ft (2024)
• Nammalvar Nagar: Rs 2,100 per sq.ft (2024)
• Nagavalli Nagar: Rs 2,500 per sq.ft (2024)
• Nagathamman Koil Street: Rs 2,900 per sq.ft (2024)
• Nagamman Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in N.A.S.Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, making a total of Rs 2,61,000. 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 more details.

Which Sub Registrar Office covers N.A.S.Avenue?

The Sub Registrar Office that covers N.A.S.Avenue is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process for property transactions in Korattur. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the sale.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. It is essential for both buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of N.A.S.Avenue?

The current guideline value of N.A.S.Avenue is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 56 per sq.ft in 2002 to Rs 2,900 per sq.ft in 2024, reflecting an overall increase of +5079%.

What are the stamp duty and registration fees for property in N.A.S.Avenue?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot, the total fees would amount to Rs 2,61,000.

Which Sub Registrar Office covers N.A.S.Avenue?

The Villivakkam Sub Registrar Office covers N.A.S.Avenue, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value of a property and is essential for calculating stamp duty and registration fees. It ensures that properties are not undervalued during transactions.