Guideline Value for NAKSHATRA AVENUE

Nakshatra Avenue guideline value

The current guideline value of Nakshatra Avenue, located in Salavakkam village, is Rs 150 per sq.ft, effective from 1 July 2024. This property falls under the Salavakkam Sub Registrar Office (SRO) and is classified as Residential Class I Type - III.

How the guideline value of Nakshatra Avenue has changed

Over the years, the guideline value for Nakshatra Avenue has seen several revisions. The 2012 revision set the value at Rs 150 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 100 per sq.ft. Following this, the 2023 revision brought the value back to Rs 150 per sq.ft, and the current 2024 revision maintains this figure, showing a 0% change from 2023 to 2024. The overall change from 2012 to 2024 is also 0%.

Between the 2017 and 2023 revisions, there was a significant increase of 50%. The 2012 to 2017 period saw a decrease of 33%. Notably, there are no figures available in the register for the years 2002, 2003, and 2007 for this street.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value, ranging from Rs 100 to Rs 250 per sq.ft. The median value is Rs 150 per sq.ft, which is equal to the current guideline value of Nakshatra Avenue.

• Nakshatra Nagar: Rs 100 per sq.ft (2024)
• Mettu Street: Rs 126 per sq.ft (2024)
• Padasalai Street: Rs 100 per sq.ft (2024)
• Mariyamman Koil Street: Rs 126 per sq.ft (2024)
• Pambaikara Street: Rs 102 per sq.ft (2024)
• Panchanga Iyer Street: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in Nakshatra Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 150 per sq.ft, the total guideline value amounts to Rs 1,50,000. The stamp duty at 7% would be Rs 10,500, and the registration fee at 2% would be Rs 3,000, making the total cost for these fees Rs 13,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nakshatra Avenue?

The Salavakkam Sub Registrar Office covers Nakshatra Avenue. The office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Salavakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the correct amount of duty based on the property's value.

Frequently asked questions

What is the current guideline value of Nakshatra Avenue?

The current guideline value of Nakshatra Avenue is Rs 150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 150 per sq.ft in 2012, 2023, and 2024. It dropped to Rs 100 per sq.ft in 2017 and increased by 50% to Rs 150 per sq.ft in 2023.

What is the land classification for Nakshatra Avenue?

Nakshatra Avenue is classified as Residential Class I Type - III, indicating its suitability for residential development.

Where can I find the Salavakkam Sub Registrar Office?

The Salavakkam Sub Registrar Office is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.

How is stamp duty calculated for properties in Nakshatra Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a 1,000 sq.ft plot at Rs 150 per sq.ft, the total guideline value would be Rs 1,50,000, resulting in a stamp duty of Rs 10,500.