Guideline Value for NESAVALAR COLONY NORTH AVENUE

Nesavalar Colony North Avenue guideline value

The current guideline value of Nesavalar Colony North Avenue is Rs 4,300 per sq.ft, effective from 1 July 2024. This area is located in Perambur village, under the Purasaivakkam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Nesavalar Colony North Avenue has changed

The guideline value for Nesavalar Colony North Avenue has seen significant changes over the years. The earliest recorded revision in 2002 was Rs 435 per sq.ft, which increased to Rs 477 per sq.ft in 2003, marking a 10% rise. Following this, the value rose to Rs 800 per sq.ft in 2007, reflecting a substantial increase of 68%. The value further escalated to Rs 4,000 per sq.ft in 2012, a remarkable 400% increase from the previous revision.

In the subsequent revisions, the guideline value dropped to Rs 2,680 per sq.ft in 2017, a decrease of 33%. However, it rebounded to Rs 4,000 per sq.ft in 2023, before reaching the current value of Rs 4,300 per sq.ft in 2024, which is an 8% increase from the previous year. Overall, from 2002 to 2024, the guideline value has increased by 889%.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median of Rs 2,700 per sq.ft. The guideline value of Nesavalar Colony North Avenue is above this median.

• Nesavalar Colony 9th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 8th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 7th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 6th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 5th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 4th Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nesavalar Colony North Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value amounts to Rs 43,00,000. The stamp duty at 7% would be Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, bringing the total to Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nesavalar Colony North Avenue?

The Sub Registrar Office that covers Nesavalar Colony North Avenue is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for further assistance.

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

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

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nesavalar Colony North Avenue?

The current guideline value of Nesavalar Colony North Avenue is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 435 per sq.ft in 2002 to Rs 4,300 per sq.ft in 2024, reflecting an overall increase of 889% over the years.

What is the land classification for Nesavalar Colony North Avenue?

Nesavalar Colony North Avenue is classified as Residential Class II Type - I, indicating its designation for residential purposes.

Where can I find the registration office for Nesavalar Colony North Avenue?

The registration office for Nesavalar Colony North Avenue is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Nesavalar Colony North Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 43,00,000 would incur a stamp duty of Rs 3,01,000 at a rate of 7%.