Guideline Value for N.M.ROAD

N.M.Road guideline value

The current guideline value of N.M.Road, located in Vilingiyambakkam village under the Avadi SRO, is Rs 2,910 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Special Type - II.

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

The guideline value for N.M.Road has seen significant changes over the years. The earliest recorded figure is from 2003, where it was Rs 190 per sq.ft. This value increased to Rs 650 per sq.ft in 2007, marking a rise of 242%. In 2012, the value adjusted to Rs 2,650 per sq.ft, which was a substantial increase of 308%. However, it dropped to Rs 1,775 per sq.ft in 2017, reflecting a decrease of 33%. The value then rose to Rs 2,650 per sq.ft in 2023, and subsequently increased by 10% to the current value of Rs 2,910 per sq.ft in 2024.

Overall, from 2003 to 2024, the guideline value has increased by 1432%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Vilingiyambakkam

In Vilingiyambakkam, there are 252 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 4,400 per sq.ft. The median guideline value for the village is Rs 935 per sq.ft, placing N.M.Road's value above this median.

• O.C.F.Road: Rs 1,310 per sq.ft (2024)
• O.P.Raman St: Rs 1,310 per sq.ft (2024)
• Nethaji St: Rs 935 per sq.ft (2024)
• Nehru St: Rs 800 per sq.ft (2024)
• Padmanaban St: Rs 935 per sq.ft (2024)
• Nehru Colony: Rs 800 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 guideline value of Rs 2,910 per sq.ft, the total guideline value amounts to Rs 29,10,000. The stamp duty at 7% would be Rs 2,03,700, and the registration fee at 2% would be Rs 58,200. Together, the total cost for these fees would be Rs 2,61,900. It's important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers N.M.Road?

The Sub Registrar Office that covers N.M.Road is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor when registering property transactions in Vilingiyambakkam. It serves as a benchmark for determining the stamp duty and registration fees that buyers and sellers must pay during the property registration process.

When a property is sold, the guideline value is used to ensure that the transaction reflects a fair valuation for tax purposes. This helps maintain transparency in property dealings and ensures compliance with local regulations.

Frequently asked questions

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

The current guideline value of N.M.Road is Rs 2,910 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Over the years, the guideline value for N.M.Road has changed significantly, increasing from Rs 190 per sq.ft in 2003 to Rs 2,910 per sq.ft in 2024, an overall increase of 1432%.

What is the land classification of N.M.Road?

N.M.Road is classified as Commercial Special Type - II, which indicates its suitability for commercial activities.

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

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

How are stamp duty and registration fees calculated for properties in N.M.Road?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a total of Rs 2,61,900 in fees.