Guideline Value for Nandheswarar Avenue

Nandheswarar Avenue guideline value

The current guideline value of Nandheswarar Avenue, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Nandheswarar Avenue has changed

The guideline value for Nandheswarar Avenue has seen several revisions over the years. In 2002, the guideline value was Rs 88 per sq.ft. This increased significantly to Rs 328 per sq.ft in 2007, marking a 273% rise. By 2012, the value reached Rs 1,500 per sq.ft, which represented a considerable increase of 357%. However, between 2012 and 2017, the value dropped to Rs 1,005 per sq.ft, reflecting a decrease of 33%. From 2017 to 2023, the value increased to Rs 1,500 per sq.ft, showing a rise of 49%. The latest revision in 2024 maintains this value at Rs 1,500 per sq.ft, indicating no change from the previous year.

It is important to note that there is no figure available for Nandheswarar Avenue in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 1,605%.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, which is equal to the current guideline value of Nandheswarar Avenue.

• Nandheswarar Nagar 1 Street: Rs 1,500 per sq.ft (2024)
• Nandheswarar Nagar 2 Street: Rs 1,500 per sq.ft (2024)
• Nangooram Nagar: Rs 1,000 per sq.ft (2024)
• Narayanapuram: Rs 1,500 per sq.ft (2024)
• Narayanapuram Main Road: Rs 1,500 per sq.ft (2024)
• Nagarajapuram: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nandheswarar Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value would be Rs 15,00,000. The stamp duty, charged at 7%, would amount to Rs 1,05,000, while the registration fee at 2% would be Rs 30,000. Together, the total cost for stamp duty and registration would be Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nandheswarar Avenue?

The Sub Registrar Office that covers Nandheswarar Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when it comes to property transactions in Nandhivaram. It serves as a reference point for determining the minimum value at which properties can be registered. This ensures that the government receives the appropriate stamp duty and registration fees based on the guideline value.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nandheswarar Avenue?

The current guideline value of Nandheswarar Avenue is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 88 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2024, which is an overall increase of 1,605%.

What is the land classification for Nandheswarar Avenue?

The land classification for Nandheswarar Avenue is Residential Special Type - I.

Where can I find the Gooduvancheri Sub Registrar Office?

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

How is stamp duty calculated for properties in Nandheswarar Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 15,00,000, the stamp duty at 7% would be Rs 1,05,000.