Guideline Value for Nagavalli Avenue

Nagavalli Avenue guideline value

The current guideline value of Nagavalli Avenue, located in Madhavaram village under the Madhavaram SRO, is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of Nagavalli Avenue has changed

The guideline value for Nagavalli Avenue has undergone several revisions over the years. In the 2017 revision, the value was set at Rs 804 per sq.ft. This increased significantly to Rs 1,200 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 has further increased the guideline value to Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from 2017 to 2024, the guideline value has increased by 62%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median guideline value in this area is Rs 1,600 per sq.ft, which means that Nagavalli Avenue's current value is below this median.

• Nagavalli Avenue 1st Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Nagavalli Avenue 2nd Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Nagavalli Avenue 3rd Street (Ward 23): Rs 1,300 per sq.ft (2024)
• Nagavalli Avenue, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)
• Nagoda Nagar: Rs 1,300 per sq.ft (2024)
• Nagappa Estate (Ward-30): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nagavalli Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to Rs 91,000, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your own fees using the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagavalli Avenue?

The Sub Registrar Office that covers Nagavalli Avenue is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor during property registration in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on the property's value.

When buying or selling property, it is essential to be aware of the current guideline value, as it impacts the overall costs involved in the transaction. Buyers should ensure that the sale price meets or exceeds the guideline value to avoid any complications during the registration process.

Frequently asked questions

What is the current guideline value of Nagavalli Avenue?

The current guideline value of Nagavalli Avenue is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 804 per sq.ft to Rs 1,300 per sq.ft in 2024, which is a total increase of 62% over this period.

What is the land classification of Nagavalli Avenue?

Nagavalli Avenue is classified as Residential Class III Type - I.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles registrations for Nagavalli Avenue?

The Madhavaram Sub Registrar Office handles registrations for Nagavalli Avenue, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.