Guideline Value for Nagarathinam Avenue

Nagarathinam Avenue guideline value

The current guideline value of Nagarathinam Avenue is Rs 770 per sq.ft, effective from 1 July 2024. This street is located in Puthur village, under the Tambaram Joint 1 SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nagarathinam Avenue has changed

The guideline value for Nagarathinam Avenue has undergone several revisions over the years. The 2012 revision set the value at Rs 700 per sq.ft, which was then reduced to Rs 469 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 700 per sq.ft, and the latest revision in 2024 raised it further to Rs 770 per sq.ft. The register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, significant changes were observed. From 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The overall change from 2012 to 2024 shows a modest increase of 10%.

Guideline values in Puthur

Puthur village has a total of 63 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 330 to Rs 4,600 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, indicating that Nagarathinam Avenue's 2024 figure is below this median.

• Nahar Enclave: Rs 1,110 per sq.ft (2024)
• Muthu Housing Colony: Rs 1,100 per sq.ft (2024)
• Murugan Nagar & J.P. Avenue: Rs 2,200 per sq.ft (2024)
• Murugan Enclave: Rs 1,650 per sq.ft (2024)
• Murugan Avenue Phase V: Rs 1,100 per sq.ft (2024)
• Murugan Avenue Phase IV: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nagarathinam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 770 per sq.ft, the total guideline value amounts to Rs 7,70,000. The stamp duty at 7% would be Rs 53,900, and the registration fee at 2% would be Rs 15,400, bringing the total fees to Rs 69,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagarathinam Avenue?

The Sub Registrar Office that covers Nagarathinam Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, 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 Puthur

The guideline value plays a critical role in the registration process when buying or selling property in Puthur. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is essential for calculating the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value ensures that the sale price is not undervalued, protecting the interests of the government in terms of tax collection. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during property transactions.

Frequently asked questions

What is the current guideline value of Nagarathinam Avenue?

The current guideline value of Nagarathinam Avenue is Rs 770 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 700 per sq.ft in 2012 to Rs 469 per sq.ft in 2017, then back to Rs 700 per sq.ft in 2023, and finally to Rs 770 per sq.ft in 2024.

What is the land classification for Nagarathinam Avenue?

Nagarathinam Avenue is classified as Residential Class I Type - I.

What are the stamp duty and registration fees for a property in Nagarathinam Avenue?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees amount to Rs 69,300, based on the guideline value of Rs 7,70,000.

Where is the Sub Registrar Office for Nagarathinam Avenue located?

The Sub Registrar Office covering Nagarathinam Avenue is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.