Guideline Value for Pine Wood Avenue

Pine Wood Avenue guideline value

The current guideline value of Pine Wood Avenue, located in Nattarasampattu village under the Gooduvancheri SRO, is Rs 350 per sq.ft. This value is effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Pine Wood Avenue has changed

The guideline value for Pine Wood Avenue has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft, which increased by 40% to Rs 350 per sq.ft in the 2012 revision. However, in the following revision in 2017, the value dropped to Rs 234 per sq.ft, marking a decrease of 33%. The subsequent revisions in 2023 and 2024 maintained the value at Rs 350 per sq.ft, showing no change from 2023 to 2024.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 40%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Nattarasampattu

In Nattarasampattu, there are 24 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 250 to Rs 700 per sq.ft. The median value across these streets is Rs 350 per sq.ft, which is equal to the 2024 guideline value for Pine Wood Avenue.

• Seva Nagar: Rs 350 per sq.ft (2024)
• Shree Akshara Garden: Rs 700 per sq.ft (2024)
• Shri Shanmuga Nagar: Rs 350 per sq.ft (2024)
• Sivagasinthamani Nagar: Rs 250 per sq.ft (2024)
• Sri Adhitya Avenue: Rs 350 per sq.ft (2024)
• Mahalakshmi Nagar: Rs 350 per sq.ft (2024)

Stamp duty and registration fee for property in Pine Wood Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 350 per sq.ft, the total guideline value would be Rs 3,50,000. The stamp duty at 7% would amount to Rs 24,500, and the registration fee at 2% would be Rs 7,000. Together, the total cost for duty and registration would be Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Pine Wood Avenue?

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

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

The guideline value is a critical factor in the registration process for buying or selling property in Nattarasampattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider the guideline value to ensure compliance with local regulations.

When a property is sold, the guideline value helps in calculating the applicable taxes. It is essential for both parties in a transaction to be aware of this value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Pine Wood Avenue?

The current guideline value of Pine Wood Avenue is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with notable revisions in 2007, 2012, 2017, 2023, and 2024. The value increased from Rs 250 in 2007 to Rs 350 in 2012, dropped to Rs 234 in 2017, and remained at Rs 350 in 2023 and 2024.

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

Other streets in Nattarasampattu include Seva Nagar and Shri Shanmuga Nagar at Rs 350 per sq.ft, Shree Akshara Garden at Rs 700 per sq.ft, Sivagasinthamani Nagar at Rs 250 per sq.ft, Sri Adhitya Avenue at Rs 350 per sq.ft, and Mahalakshmi Nagar at Rs 350 per sq.ft.

What is the stamp duty for a property on Pine Wood Avenue?

The stamp duty for a property on Pine Wood Avenue is calculated at 7% of the guideline value. For a 1,000 sq.ft plot at the current rate, the stamp duty would be Rs 24,500.

Where is the Sub Registrar Office for Pine Wood Avenue located?

The Sub Registrar Office for Pine Wood Avenue is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.