Guideline Value for Nisha Avenue II

Nisha Avenue II guideline value

The current guideline value of Nisha Avenue II is Rs 2,150 per sq.ft. It is located in Rajakilpakkam village, under the Selaiyur SRO, and classified as Residential Class I Type - I.

How the guideline value of Nisha Avenue II has changed

In the 2012 revision, the guideline value was Rs 2,000 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease to Rs 1,340 per sq.ft, marking a -33% change. The value then increased to Rs 2,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 2,150 per sq.ft in the 2024 revision, reflecting an 8% rise.

From 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 8%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Rajakilpakkam

Rajakilpakkam has a total of 384 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 5,000 per sq.ft. The median guideline value for these streets is Rs 2,150 per sq.ft, which is equal to the current value of Nisha Avenue II.

• Nizha Avenue: Rs 2,150 per sq.ft (2024)
• Nizha Avenue 1st street: Rs 2,150 per sq.ft (2024)
• Nizha Avenue 2nd Street: Rs 2,150 per sq.ft (2024)
• N.T.R. Garden: Rs 950 per sq.ft (2024)
• Old Institute Road: Rs 880 per sq.ft (2024)
• Neminathan Nagar: Rs 1,600 per sq.ft (2024)

Stamp duty and registration fee for property in Nisha Avenue II

For a 1,000 sq.ft plot at the current rate, the guideline value amounts to Rs 21,50,000. The stamp duty at 7% would be Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, making the total Rs 1,93,500. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nisha Avenue II?

The Sub Registrar Office covering Nisha Avenue II is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Rajakilpakkam. It determines the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared to the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees, ensuring compliance with the legal requirements for property transactions.

Frequently asked questions

What is the current guideline value of Nisha Avenue II?

The current guideline value of Nisha Avenue II is Rs 2,150 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,150 per sq.ft in 2024.

What is the land classification for Nisha Avenue II?

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

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Nisha Avenue II?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current rate has a guideline value of Rs 21,50,000, leading to a total stamp duty and registration fee of Rs 1,93,500.