Guideline Value for N.E.S.Avenue

N.E.S.Avenue guideline value

The current guideline value of N.E.S.Avenue in Chembarambakkam village, under the Poonamallee SRO, is Rs 770 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - II.

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

The guideline value for N.E.S.Avenue has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 770 per sq.ft, an increase of 10% from the 2023 revision, which was Rs 700 per sq.ft. The register has no figure for this street for the years 2002, 2003, 2007, 2012, and 2017.

Prior to the 2023 revision, the last recorded value was Rs 700 per sq.ft in 2023. The register does not provide figures for the years 2002, 2003, 2007, 2012, and 2017, indicating that the guideline value for N.E.S.Avenue was not updated during those years.

Guideline values in Chembarambakkam

In Chembarambakkam, there are 64 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, which means N.E.S.Avenue's 2024 figure is below that median.

• Nedunchalai: Rs 878 per sq.ft (2024)
• Olympia Mithila: Rs 2,800 per sq.ft (2024)
• Om Paragadeeswarar Nagar: Rs 1,100 per sq.ft (2024)
• Padavetamman Nagar: Rs 1,100 per sq.ft (2024)
• Patel Street: Rs 878 per sq.ft (2024)
• Patel Street 97/4c,4i,4j,5,6,7,8,9,10: Rs 878 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, leading to a total of Rs 69,300. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

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

The Sub Registrar Office that covers N.E.S.Avenue is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Chembarambakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value is essential for both buyers and sellers to understand their financial obligations. It helps in determining the costs associated with the transaction, which include the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

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

The current guideline value of N.E.S.Avenue is Rs 770 per sq.ft, effective from 1 July 2024.

How much did the guideline value increase from 2023 to 2024?

The guideline value increased by 10% from Rs 700 per sq.ft in 2023 to Rs 770 per sq.ft in 2024.

What is the land classification for N.E.S.Avenue?

N.E.S.Avenue is classified as Residential Special Type - II.

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

For a 1,000 sq.ft plot, the stamp duty would be Rs 53,900 and the registration fee would be Rs 15,400, totaling Rs 69,300.

Which office handles registrations for N.E.S.Avenue?

The Poonamallee Sub Registrar Office handles registrations for N.E.S.Avenue, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.