Guideline Value for NISHANTH AVENUE

Nishanth Avenue guideline value

The current guideline value of Nishanth Avenue, located in Ninna Karai village, is Rs 1,321 per sq.ft, effective from the 2024 revision. This area falls under the Chengleput Joint II SRO and is classified as Residential Special Type - V.

How the guideline value of Nishanth Avenue has changed

The guideline value of Nishanth Avenue has seen several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This figure decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value rebounded significantly to Rs 1,200 per sq.ft in 2023, and then increased by 10% to reach Rs 1,321 per sq.ft in the 2024 revision.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The changes between the revisions indicate a rise of 49% from 2017 to 2023, and a 10% increase from 2023 to 2024. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft as of 2024. The median guideline value for these streets is Rs 1,100 per sq.ft, placing Nishanth Avenue's current value above this median.

• Nirmal Nagar (Per): Rs 440 per sq.ft (2024)
• Nh2 Extension (Ward -7): Rs 1,321 per sq.ft (2024)
• Nvignesh Nagar Ninnaikarai (Ward -19): Rs 660 per sq.ft (2024)
• New Balaji Nagar Barathiar Street (Ward -3): Rs 990 per sq.ft (2024)
• Nethaji Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Om Sakthi Street (Per): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Nishanth Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total fees together to Rs 1,18,890. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nishanth Avenue?

The Sub Registrar Office that covers Nishanth Avenue is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is registered, the higher of the guideline value and the sale price is considered for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value.

Frequently asked questions

What is the current guideline value of Nishanth Avenue?

The current guideline value of Nishanth Avenue is Rs 1,321 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification of Nishanth Avenue?

Nishanth Avenue is classified as Residential Special Type - V under the Chengleput Joint II SRO.

Where can I find the Sub Registrar Office for Nishanth Avenue?

The Sub Registrar Office for Nishanth Avenue is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. This ensures that the appropriate fees are collected during the registration process.