Guideline Value for Nawaz Abibullah Avenue Cross Street

Nawaz Abibullah Avenue Cross Street guideline value

The current guideline value of Nawaz Abibullah Avenue Cross Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Nawaz Abibullah Avenue Cross Street has changed

The guideline value for Nawaz Abibullah Avenue Cross Street has seen several revisions over the years. The 2007 revision set the value at Rs 3,000 per sq.ft. This increased significantly to Rs 7,000 per sq.ft in 2012, marking a rise of 133%. However, the value dropped to Rs 4,690 per sq.ft in the 2017 revision, which was a decrease of 33%. Following this, the 2023 revision raised the value to Rs 7,000 per sq.ft, and the latest revision in 2024 has set the value at Rs 7,700 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 157%.

Guideline values in Nungambakkam

Nungambakkam village comprises 270 streets under the Chennai Central Joint II SRO, with guideline values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, which means that Nawaz Abibullah Avenue Cross Street's 2024 value is below that median.

• Nawaz Abibullah Avenue: Rs 7,700 per sq.ft (2024)
• Nawaz Abibullah 3rd Cross Street: Rs 7,700 per sq.ft (2024)
• Nawaz Abibullah 2nd Cross Street: Rs 7,700 per sq.ft (2024)
• Nawaz Abibullah 1st Cross Street: Rs 7,700 per sq.ft (2024)
• Neelakandan Road: Rs 7,100 per sq.ft (2024)
• Narayanan Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nawaz Abibullah Avenue Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value would be Rs 77,00,000. The stamp duty is calculated at 7%, amounting to Rs 5,39,000, and the registration fee is 2%, which totals Rs 1,54,000. Together, the total cost for stamp duty and registration fee would be Rs 6,93,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Nawaz Abibullah Avenue Cross Street?

The Sub Registrar Office that covers Nawaz Abibullah Avenue Cross Street is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nungambakkam. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a buyer approaches the registration office, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation of properties. This process helps maintain transparency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Nawaz Abibullah Avenue Cross Street?

The current guideline value of Nawaz Abibullah Avenue Cross Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

What is the median guideline value in Nungambakkam?

The median guideline value for streets in Nungambakkam is Rs 8,800 per sq.ft, which is higher than the current value of Nawaz Abibullah Avenue Cross Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000 and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles registrations for Nawaz Abibullah Avenue Cross Street?

The Chennai Central Joint II Sub Registrar Office handles registrations for Nawaz Abibullah Avenue Cross Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.