Guideline Value for N.M.ROAD

N.M.Road guideline value

The current guideline value of N.M.Road in Paruthipattu village, under the Avadi SRO, is Rs 2,970 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - V.

How the guideline value of N.M.Road has changed

The guideline value for N.M.Road has undergone several revisions over the years. The earliest figure available is from 2002, which was Rs 245 per sq.ft. This increased to Rs 282 per sq.ft in 2003, marking a 15% rise. The value then saw a significant jump to Rs 500 per sq.ft in 2007, which was a 77% increase. Following this, the value rose dramatically to Rs 2,700 per sq.ft in 2012, reflecting a 440% increase from the previous revision. However, it decreased to Rs 1,809 per sq.ft in 2017, a decline of 33%.

In 2023, the guideline value was set at Rs 2,700 per sq.ft, and then it increased to Rs 2,970 per sq.ft in the 2024 revision, which is a 10% rise. Overall, from 2002 to 2024, the guideline value has increased by 1,112%.

Guideline values in Paruthipattu

In Paruthipattu, there are 486 streets under the Avadi SRO with 2024 guideline values ranging from Rs 801 to Rs 4,730 per sq.ft. The median value for these streets is Rs 1,625 per sq.ft, positioning N.M.Road above this median.

• North Street: Rs 950 per sq.ft (2024)
• O.C.F.Road: Rs 950 per sq.ft (2024)
• Ocf Road (Commercial): Rs 1,650 per sq.ft (2024)
• Old Agraharam St: Rs 1,625 per sq.ft (2024)
• Old Jeevanandam St: Rs 950 per sq.ft (2024)
• Om Saravana Nagar: Rs 1,625 per sq.ft (2024)

Stamp duty and registration fee for property in N.M.Road

For a 1,000 sq.ft plot at the current rate of Rs 2,970 per sq.ft, the guideline value would be Rs 29,70,000. The stamp duty at 7% would be Rs 2,07,900, and the registration fee at 2% would be Rs 59,400, totaling Rs 2,67,300. 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 N.M.Road?

N.M.Road falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. To find your SRO, visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Paruthipattu. It serves as a benchmark for determining the minimum value on which stamp duty and registration fees are calculated.

When a property is registered, the buyer must pay stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of N.M.Road?

The current guideline value of N.M.Road is Rs 2,970 per sq.ft, effective from 1 July 2024.

How often does the guideline value get revised?

The guideline value is typically revised periodically, with the most recent revisions occurring in 2024, 2023, 2017, 2012, 2007, 2003, and 2002.

What was the guideline value in 2017?

The guideline value of N.M.Road in 2017 was Rs 1,809 per sq.ft.

How is the stamp duty calculated for properties in N.M.Road?

Stamp duty for properties in N.M.Road is calculated at 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for N.M.Road?

The Sub Registrar Office covering N.M.Road is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.