Guideline Value for Nova Pavilio

Nova Pavilio guideline value

The current guideline value of Nova Pavilio is Rs 2,200 per sq.ft, effective from 1 July 2024. This property is located in Ayappakkam village under the Ambattur SRO, with a land classification of Mixed Type - I.

How the guideline value of Nova Pavilio has changed

The guideline value for Nova Pavilio has seen significant changes over the years. The 2017 revision recorded a value of Rs 1,340 per sq.ft, which increased to Rs 2,000 per sq.ft in the 2023 revision, marking a substantial rise of 49%. The latest revision in 2024 has further increased this value to Rs 2,200 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Ayappakkam

In Ayappakkam, there are 221 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,300 per sq.ft, placing Nova Pavilio's 2024 figure above this median.

• Om sakthi street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Padasalai street (Iyappan nagar): Rs 1,700 per sq.ft (2024)
• Nehru street (Srinivasa nagar): Rs 1,300 per sq.ft (2024)
• Pallikuda Street (School Street): Rs 1,100 per sq.ft (2024)
• Park Street: Rs 1,100 per sq.ft (2024)
• Partha Sarathi Nagar: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nova Pavilio

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total cost for these fees Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nova Pavilio?

The Sub Registrar Office that covers Nova Pavilio is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

To find your SRO, please visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Ayappakkam. It is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure compliance with local regulations.

When registering a property, the guideline value is considered to ensure that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. This value is essential for both parties involved in the transaction.

Frequently asked questions

What is the current guideline value of Nova Pavilio?

The current guideline value of Nova Pavilio is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, an overall increase of 64% across these years.

What are the guideline values for other streets in Ayappakkam?

Other streets in Ayappakkam have varying guideline values, with the lowest being Rs 1,100 per sq.ft and the highest being Rs 4,000 per sq.ft. The median value for these streets is Rs 1,300 per sq.ft.

What are the stamp duty and registration fees for property in Nova Pavilio?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000 in fees.

Which office handles property registrations for Nova Pavilio?

The Ambattur Sub Registrar Office handles property registrations for Nova Pavilio, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.