Guideline Value for Nawaz Abibullah Avenue

Nawaz Abibullah Avenue guideline value

The current guideline value of Nawaz Abibullah Avenue 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 has changed

The guideline value for Nawaz Abibullah Avenue has seen several revisions over the years. In 2007, the guideline value was Rs 3,000 per sq.ft. This increased significantly to Rs 7,000 per sq.ft in 2012, marking a 133% rise. However, it then decreased to Rs 4,690 per sq.ft in 2017, which was a drop of 33%. The value rose again to Rs 7,000 per sq.ft in 2023, followed by a further increase to Rs 7,700 per sq.ft in 2024, reflecting a 10% change from the previous year.

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

Guideline values in Nungambakkam

Nungambakkam village has a range of guideline values across its 270 streets under the Chennai Central Joint II SRO, with figures 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, placing Nawaz Abibullah Avenue's 2024 figure below that median.

• Nawaz Abibullah 3rd Cross Street: Rs 7,700 per sq.ft (2024)
• Nawaz Abibullah Avenue 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

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 at 7% would amount to Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000. Together, the total cost for these fees would be Rs 6,93,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Nawaz Abibullah Avenue?

The Sub Registrar Office that covers Nawaz Abibullah Avenue 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 plays a crucial role in the registration process of property transactions in Nungambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling a property, the guideline value is used to calculate the applicable fees. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the sale price, ensuring that the transaction is conducted fairly and transparently.

Frequently asked questions

What is the current guideline value of Nawaz Abibullah Avenue?

The current guideline value of Nawaz Abibullah Avenue 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, showing an overall increase of 157% over this period.

What is the land classification for Nawaz Abibullah Avenue?

Nawaz Abibullah Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Sub Registrar Office for Nawaz Abibullah Avenue?

The Sub Registrar Office for Nawaz Abibullah Avenue is located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

How is the stamp duty calculated for properties in Nawaz Abibullah Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a property valued at Rs 77,00,000 would incur a stamp duty of Rs 5,39,000 at a rate of 7%.