Guideline Value for New Tambaram Avenue

New Tambaram Avenue guideline value

The current guideline value of New Tambaram Avenue is Rs 450 per sq.ft, effective from the 2024 revision. This street is located in Nallur village, under the Sriperumpudur SRO, and is classified as Mixed Type - I land.

How the guideline value of New Tambaram Avenue has changed

The guideline value for New Tambaram Avenue has seen several revisions over the years. In 2012, the value was set at Rs 450 per sq.ft, which remained unchanged until the next revision in 2017, where it decreased to Rs 301 per sq.ft. However, from 2017 to 2023, the value increased significantly by 50% to reach Rs 450 per sq.ft again. The most recent revision in 2024 has maintained this value at Rs 450 per sq.ft, showing no change from 2023.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for New Tambaram Avenue. Overall, from 2012 to 2024, the guideline value has remained consistent at Rs 450 per sq.ft.

Guideline values in Nallur

In Nallur, there are 33 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 126 to Rs 700 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing New Tambaram Avenue's 2024 figure above this median.

• NT nagar Extension: Rs 700 per sq.ft (2024)
• Mangala Nagar: Rs 175 per sq.ft (2024)
• Ramakrishna Nagar: Rs 200 per sq.ft (2024)
• Ranji Nagar: Rs 126 per sq.ft (2024)
• Krishna nagar: Rs 350 per sq.ft (2024)
• KJR nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in New Tambaram Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 450 per sq.ft, the total guideline value amounts to Rs 4,50,000. The stamp duty at 7% would be Rs 31,500, and the registration fee at 2% would be Rs 9,000, bringing the total cost for these fees to Rs 40,500. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers New Tambaram Avenue?

The Sub Registrar Office that covers New Tambaram Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Nallur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, which is necessary for legal and taxation purposes. Buyers and sellers should be aware of the guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of New Tambaram Avenue?

The current guideline value of New Tambaram Avenue is Rs 450 per sq.ft, effective from July 1, 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 450 per sq.ft since 2012, with a decrease to Rs 301 per sq.ft in 2017, followed by a return to Rs 450 per sq.ft in 2023 and 2024.

What are the other streets in Nallur with their guideline values?

Other streets in Nallur include NT nagar Extension at Rs 700 per sq.ft, Mangala Nagar at Rs 175 per sq.ft, Ramakrishna Nagar at Rs 200 per sq.ft, Ranji Nagar at Rs 126 per sq.ft, and Krishna nagar and KJR nagar both at Rs 350 per sq.ft.

What is the stamp duty rate for property in New Tambaram Avenue?

The stamp duty rate for property in New Tambaram Avenue is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for New Tambaram Avenue?

The Sub Registrar Office for New Tambaram Avenue is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.