Guideline Value for SEVENTH AVENUE (JAWAHARLAL NEHRU ROAD OR 200FEET ROAD)

Seventh Avenue (Jawaharlal Nehru Road Or 200feet Road) guideline value

The current guideline value of Seventh Avenue (Jawaharlal Nehru Road Or 200feet Road) is Rs 13,100 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Special Type - I.

How the guideline value of Seventh Avenue (Jawaharlal Nehru Road Or 200feet Road) has changed

Over the years, the guideline value of Seventh Avenue has seen significant changes. The 2007 revision recorded a guideline value of Rs 5,320 per sq.ft, which then increased to Rs 12,000 per sq.ft in 2012, reflecting a rise of 126%. However, from 2012 to 2017, the value decreased to Rs 8,040 per sq.ft, marking a decline of 33%. The 2017 revision saw another increase to Rs 12,000 per sq.ft in 2023, followed by a further rise to Rs 13,100 per sq.ft in 2024, which is a 9% increase from the previous year.

In summary, the guideline value has increased from Rs 5,320 per sq.ft in 2007 to Rs 13,100 per sq.ft in 2024, representing an overall increase of 146%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Padi

In Padi, there are 354 streets under the Villivakkam SRO with a 2024 guideline value range from Rs 2,200 to Rs 13,200 per sq.ft. The median value for these streets is Rs 3,800 per sq.ft, positioning Seventh Avenue above this median.

• Shankar Flats: Rs 2,800 per sq.ft (2024)
• Shanthi Nagar: Rs 5,400 per sq.ft (2024)
• Shanthinekethan Colony: Rs 9,900 per sq.ft (2024)
• Sheham Avenue (Park Road): Rs 9,700 per sq.ft (2024)
• Silver Palms: Rs 2,500 per sq.ft (2024)
• School Road: Rs 9,700 per sq.ft (2024)

Stamp duty and registration fee for property in Seventh Avenue (Jawaharlal Nehru Road Or 200feet Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 13,100 per sq.ft, the total guideline value amounts to Rs 1,31,00,000. The stamp duty at 7% would be Rs 9,17,000, and the registration fee at 2% would be Rs 2,62,000, totaling Rs 11,79,000. It is important to 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 Seventh Avenue (Jawaharlal Nehru Road Or 200feet Road)?

The Sub Registrar Office that covers Seventh Avenue is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for additional information.

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

The guideline value plays a crucial role in property transactions in Padi. It is the basis for calculating stamp duty and registration fees, which are mandatory when registering a property. Buyers and sellers must be aware of the guideline value to understand the financial implications of their property transactions.

When a property is bought or sold, the registration office uses the guideline value to determine the applicable fees. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government.

Frequently asked questions

What is the current guideline value of Seventh Avenue?

The current guideline value of Seventh Avenue (Jawaharlal Nehru Road Or 200feet Road) is Rs 13,100 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 5,320 per sq.ft to Rs 13,100 per sq.ft in 2024, marking an overall increase of 146%.

What are the guideline values for other streets in Padi?

Other streets in Padi have varying guideline values, with rates ranging from Rs 2,200 to Rs 13,200 per sq.ft. For example, Shankar Flats is valued at Rs 2,800 per sq.ft, while Shanthinekethan Colony is at Rs 9,900 per sq.ft in 2024.

How is stamp duty calculated for properties in Seventh Avenue?

Stamp duty for properties in Seventh Avenue is calculated based on the guideline value or the sale price, whichever is higher. For instance, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 9,17,000.

Where can I find the Sub Registrar Office for Seventh Avenue?

The Villivakkam Sub Registrar Office covers Seventh Avenue and is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles property registrations in the area.