Guideline Value for Nizha Avenue 1st street

Nizha Avenue 1st street guideline value

The current guideline value of Nizha Avenue 1st street is Rs 2,150 per sq.ft. This street is located in Rajakilpakkam village under the Selaiyur SRO, classified as Residential Class I Type - I.

How the guideline value of Nizha Avenue 1st street has changed

The guideline value for Nizha Avenue 1st street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was later reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and the latest revision in 2024 has set the value at Rs 2,150 per sq.ft, marking an 8% increase from the previous year.

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

Guideline values in Rajakilpakkam

In Rajakilpakkam, there are 384 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 5,000 per sq.ft. The median value among these streets is Rs 2,150 per sq.ft, which is equal to the current guideline value of Nizha Avenue 1st street.

• Nizha Avenue: Rs 2,150 per sq.ft (2024)
• Nizha Avenue 2nd Street: Rs 2,150 per sq.ft (2024)
• Nisha Avenue II: 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 Nizha Avenue 1st street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,150 per sq.ft, the total guideline value would be Rs 21,50,000. The stamp duty at 7% would amount to Rs 1,50,500, and the registration fee at 2% would be Rs 43,000, bringing the total to Rs 1,93,500. Duty is charged on the higher of the guideline value and the sale price. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nizha Avenue 1st street?

The Sub Registrar Office that covers Nizha Avenue 1st street 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 when buying or selling property in Rajakilpakkam. It determines the minimum price at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value to avoid any legal complications. The registration office uses this value to assess the appropriate fees, ensuring that all transactions are fairly processed according to the prevailing rates.

Frequently asked questions

What is the current guideline value of Nizha Avenue 1st street?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 2,000 per sq.ft to Rs 2,150 per sq.ft in 2024, with various fluctuations in between, including a drop in 2017.

What is the registration office for Nizha Avenue 1st street?

The registration office for Nizha Avenue 1st street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

How is stamp duty calculated for properties in Nizha Avenue 1st street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 21,50,000, the stamp duty would be Rs 1,50,500 at a rate of 7%.

What are the other streets with the same guideline value in Rajakilpakkam?

Other streets in Rajakilpakkam with the same guideline value of Rs 2,150 per sq.ft include Nizha Avenue, Nizha Avenue 2nd Street, and Nisha Avenue II.