Guideline Value for NEW AVADI ROAD

New Avadi Road guideline value

The current guideline value of New Avadi Road is Rs 4,400 per sq.ft. This street is located in Villivakkam village, under the Villivakkam SRO, and is classified as Residential Class III Type - III.

How the guideline value of New Avadi Road has changed

The guideline value for New Avadi Road has undergone several revisions over the years. In 2002, the value was Rs 880 per sq.ft, which increased to Rs 1,050 per sq.ft in 2003, marking a 19% rise. By 2007, the value further increased to Rs 1,800 per sq.ft, reflecting a 71% change. The 2012 revision saw the value rise to Rs 4,000 per sq.ft, a significant 122% increase from the previous figure. However, in 2017, the guideline value dropped to Rs 2,680 per sq.ft, showing a decrease of 33%.

From 2017 to 2023, the guideline value rose to Rs 4,000 per sq.ft, indicating a 49% increase. The most recent revision in 2024 set the value at Rs 4,400 per sq.ft, a 10% increase from the previous year. The overall increase from 2002 to 2024 is 400%.

Guideline values in Villivakkam

In Villivakkam, there are 372 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 13,200 per sq.ft. The median guideline value in the village is Rs 4,900 per sq.ft, placing New Avadi Road's 2024 figure below this median.

• Nehru Nagar (Slum Board Near Burial Ground): Rs 2,200 per sq.ft (2024)
• North Main Road: Rs 12,100 per sq.ft (2024)
• N.R.N.Avenue: Rs 3,300 per sq.ft (2024)
• N.R.N.Colony: Rs 3,300 per sq.ft (2024)
• N.R.N.Colony 1st Lane: Rs 3,300 per sq.ft (2024)
• N.R.N.Colony 2nd Lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in New Avadi Road

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, while the registration fee at 2% would be Rs 88,000, bringing the total to Rs 3,96,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers New Avadi Road?

The Sub Registrar Office that covers New Avadi Road is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value is a crucial factor during property registration in Villivakkam. It serves as a reference point for determining the stamp duty and registration fees applicable to the property transaction. Buyers and sellers should be aware that the guideline value is used to calculate the charges, ensuring transparency in the registration process.

When a property is bought or sold, the guideline value helps in assessing the fair value of the property. This value is essential for both buyers and sellers to understand the financial implications of the transaction, particularly in terms of taxes and fees that need to be paid during the registration process.

Frequently asked questions

What is the current guideline value of New Avadi Road?

The current guideline value of New Avadi Road is Rs 4,400 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 880 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 400% over the years.

What is the median guideline value in Villivakkam?

The median guideline value in Villivakkam is Rs 4,900 per sq.ft, which is higher than the current guideline value of New Avadi Road.

What fees are applicable when registering a property on New Avadi Road?

The fees applicable include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for New Avadi Road?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, and can be found through the provided link.