Guideline Value for Nishanth Avenue

Nishanth Avenue guideline value

The current guideline value of Nishanth Avenue in Karanaipuducheri village, under the Gooduvancheri SRO, is Rs 701 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Nishanth Avenue has changed

The guideline value for Nishanth Avenue has seen several revisions over the years. In the 2007 revision, the value was Rs 200 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a 250% rise. However, in the 2017 revision, the value dropped to Rs 469 per sq.ft, reflecting a decrease of 33%. The value then increased to Rs 700 per sq.ft in the 2023 revision, and it has remained stable at Rs 701 per sq.ft in the 2024 revision, showing no change from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Nishanth Avenue. Overall, from 2007 to 2024, the guideline value has increased by 251%.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 400 to Rs 2,239 per sq.ft. The median guideline value in this area is Rs 802 per sq.ft, placing Nishanth Avenue's 2024 figure below that median.

• Nangil Nagar: Rs 701 per sq.ft (2024)
• Periyar Nagar: Rs 600 per sq.ft (2024)
• Mohanarangam Nagar: Rs 600 per sq.ft (2024)
• M.K.N. Nagar: Rs 701 per sq.ft (2024)
• M.A.V. Avenue: Rs 701 per sq.ft (2024)
• Mathimozhi Enclave: Rs 1,642 per sq.ft (2024)

Stamp duty and registration fee for property in Nishanth Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 701 per sq.ft, the total guideline value would be Rs 7,01,000. The stamp duty at 7% would amount to Rs 49,070, and the registration fee at 2% would be Rs 14,020, resulting in a total of Rs 63,090. 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 details.

Which Sub Registrar Office covers Nishanth Avenue?

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

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

The guideline value is a crucial factor in property transactions within Karanaipuducheri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid at the time of registration. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nishanth Avenue?

The current guideline value of Nishanth Avenue is Rs 701 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen significant changes, increasing from Rs 200 per sq.ft in 2007 to Rs 701 per sq.ft in 2024, with various fluctuations in between.

What is the land classification for Nishanth Avenue?

The land classification for Nishanth Avenue is Residential Special Type - II.

Where can I find the registration office for Nishanth Avenue?

The registration office for Nishanth Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in Nishanth Avenue?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 7,01,000, the stamp duty would be Rs 49,070 at a rate of 7%.