Guideline Value for N.C.K. Avenue

N.C.K. Avenue guideline value

The current guideline value of N.C.K. Avenue in Nandhivaram village, under the Gooduvancheri SRO, is Rs 2,000 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of N.C.K. Avenue has changed

The guideline value for N.C.K. Avenue has seen several revisions over the years. In 2007, the value was Rs 328 per sq.ft, which increased significantly to Rs 2,000 per sq.ft in 2012. However, this value dropped to Rs 1,340 per sq.ft in 2017, before rising again to Rs 2,000 per sq.ft in both 2023 and 2024, reflecting a 49% increase from 2017 to 2023, but no change from 2023 to 2024.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 is an increase of 510%, highlighting the fluctuations in the guideline value over the years.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing N.C.K. Avenue's 2024 figure above that median.

• Navin Satish Nagar: Rs 1,500 per sq.ft (2024)
• Narayanapuram Main Road: Rs 1,500 per sq.ft (2024)
• Narayanapuram: Rs 1,500 per sq.ft (2024)
• Nellikuppam Road: Rs 2,000 per sq.ft (2024)
• Nangooram Nagar: Rs 1,000 per sq.ft (2024)
• Nandhewarar Nagar 2 Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in N.C.K. Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,000 per sq.ft, the total guideline value amounts to Rs 20,00,000. The stamp duty at 7% would be Rs 1,40,000, and the registration fee at 2% would be Rs 40,000, bringing the total fees together to Rs 1,80,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers N.C.K. Avenue?

The N.C.K. Avenue falls under the jurisdiction of the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property transactions in Nandhivaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, making it essential to understand the current guideline values in the area.

Frequently asked questions

What is the current guideline value of N.C.K. Avenue?

The current guideline value of N.C.K. Avenue is Rs 2,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 328 per sq.ft to Rs 2,000 per sq.ft in 2024, reflecting a total increase of 510% over this period.

What are the stamp duty and registration fees for properties in N.C.K. Avenue?

The stamp duty is charged at 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total fees would be Rs 1,80,000.

Which Sub Registrar Office covers N.C.K. Avenue?

The Gooduvancheri Sub Registrar Office covers N.C.K. Avenue, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.

What is the land classification of N.C.K. Avenue?

The land classification for N.C.K. Avenue is Residential Special Type - II, indicating its designated use for residential purposes.