Guideline Value for Prabhu Avenue

Prabhu Avenue guideline value

The current guideline value of Prabhu Avenue in Nandhivaram village is Rs 1,200 per sq.ft, effective from 1 July 2024. This street falls under the Gooduvancheri SRO and is classified as Residential Class I Type - I.

How the guideline value of Prabhu Avenue has changed

The guideline value for Prabhu Avenue has undergone several revisions over the years. In 2002, the guideline value was Rs 58 per sq.ft, which saw a significant increase to Rs 328 per sq.ft in 2007. This marked a rise of 466%. The value further escalated to Rs 1,200 per sq.ft in 2012, reflecting a remarkable increase of 266%. However, from 2012 to 2017, the value decreased to Rs 804 per sq.ft, a drop of 33%. The value then rose again to Rs 1,200 per sq.ft in 2023, maintaining the same figure in the 2024 revision, resulting in a 49% increase from the 2017 revision.

It is important to note that there is no figure available for Prabhu Avenue in the 2003 revision. Overall, from 2002 to 2024, the guideline value has increased by 1969%.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 3,500 per sq.ft, with a median value of Rs 1,500 per sq.ft. Prabhu Avenue's guideline value of Rs 1,200 per sq.ft is below this median.

• Priya Nagar: Rs 1,500 per sq.ft (2024)
• P.R.V. Nagar: Rs 1,000 per sq.ft (2024)
• Pillaiyar Kovil Street: Rs 1,200 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 1,200 per sq.ft (2024)
• Radha Nagar (212/2): Rs 2,000 per sq.ft (2024)
• Radha Nagar (Near G.S.T Road): Rs 3,500 per sq.ft (2024)

Stamp duty and registration fee for property in Prabhu Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, bringing the total to Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Prabhu Avenue?

The Sub Registrar Office that covers Prabhu Avenue is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, 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 Nandhivaram

The guideline value plays a crucial role in the registration process when buying or selling property in Nandhivaram. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is assessed to establish the minimum value for taxation purposes. This ensures that the government receives appropriate revenue from property transactions, reflecting the value of the property as determined by the guideline value register.

Frequently asked questions

What is the current guideline value of Prabhu Avenue?

The current guideline value of Prabhu Avenue is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, increasing from Rs 58 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, with notable fluctuations in between.

What is the classification of land on Prabhu Avenue?

Prabhu Avenue is classified as Residential Class I Type - I, indicating its suitability for residential purposes.

Where can I find the registration office for Prabhu Avenue?

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

How is stamp duty calculated for properties in Nandhivaram?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 at 7%.