Guideline Value for NETHAJI AVENUE

Nethaji Avenue guideline value

The current guideline value of Nethaji Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Mannivakkam village, under the Gooduvancheri SRO, and is classified as Mixed Special Type - I.

How the guideline value of Nethaji Avenue has changed

The guideline value for Nethaji Avenue has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, an increase from the 2023 revision, which was Rs 2,000 per sq.ft. Notably, there was no change in the value from the 2017 revision, which also stood at Rs 2,000 per sq.ft. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 10%. The change from the 2023 to the 2024 revision represents a 10% increase as well.

Guideline values in Mannivakkam

Mannivakkam village features 118 streets under the Gooduvancheri SRO, with 2024 guideline values ranging from Rs 330 to Rs 4,300 per sq.ft. The median guideline value in the village is Rs 1,215 per sq.ft, placing Nethaji Avenue's 2024 figure above this median.

• Nedunsalai Nagar: Rs 1,100 per sq.ft (2024)
• Nova Ncr: Rs 3,300 per sq.ft (2024)
• Naresh Avenue: Rs 1,100 per sq.ft (2024)
• Outer Ring Road: Rs 1,650 per sq.ft (2024)
• Muthukrishnan Nagar: Rs 990 per sq.ft (2024)
• Mudichur Road: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Nethaji Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total to Rs 1,98,000. Please 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 Nethaji Avenue?

The Sub Registrar Office covering Nethaji Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role when buying or selling property in Mannivakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the government and is updated periodically to reflect changes in the real estate market.

When registering a property, buyers and sellers must ensure that the guideline value is considered, as it often influences the overall cost of the transaction. This value is essential for compliance with legal requirements and helps in the smooth processing of property registrations.

Frequently asked questions

What is the current guideline value of Nethaji Avenue?

The current guideline value of Nethaji Avenue is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased by 10% from Rs 2,000 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024. There was no change from 2017 to 2023, where it remained at Rs 2,000 per sq.ft.

What is the median guideline value in Mannivakkam?

The median guideline value in Mannivakkam is Rs 1,215 per sq.ft, with Nethaji Avenue's 2024 figure being above this median.

What are the stamp duty and registration fees for Nethaji Avenue?

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000.

Where is the Sub Registrar Office for Nethaji Avenue located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.