Guideline Value for Suresh Avenue

Suresh Avenue guideline value

The current guideline value of Suresh Avenue in Nandhivaram village, under the Gooduvancheri SRO, is Rs 1,500 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Suresh Avenue has changed

Over the years, the guideline value of Suresh Avenue has seen several revisions. The 2007 revision recorded a guideline value of Rs 328 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in the 2012 revision, marking a rise of 357%. However, the subsequent revision in 2017 saw a decrease to Rs 1,005 per sq.ft, a drop of 33%. The 2023 and 2024 revisions maintained the value at Rs 1,500 per sq.ft, indicating no change between these two years.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%, bringing the value back to Rs 1,500 per sq.ft. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 357%.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO carrying a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, which is equal to the current guideline value of Suresh Avenue.

• Thanthai Periyar Nagar: Rs 1,500 per sq.ft (2024)
• Sterling Little Flowers: Rs 3,500 per sq.ft (2024)
• Sri Venkateshwara Nagar Extn.: Rs 1,200 per sq.ft (2024)
• Sri Venkateshwara Nagar: Rs 1,200 per sq.ft (2024)
• Thirumakal Township: Rs 1,500 per sq.ft (2024)
• Sri Vari Nagar: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Suresh Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, while the registration fee at 2% would be Rs 30,000. Therefore, the total cost for these fees would be Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Suresh Avenue?

The Gooduvancheri Sub Registrar Office covers Suresh Avenue. The office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a critical factor in the registration process for property transactions in Nandhivaram. It serves as a reference point for determining the stamp duty and registration fees that buyers must pay when acquiring property.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair price, which helps in maintaining transparency in real estate dealings. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Suresh Avenue?

The current guideline value of Suresh Avenue is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, with the most significant increase occurring from Rs 328 per sq.ft in 2007 to Rs 1,500 per sq.ft in 2012. The value remained at Rs 1,500 per sq.ft in the 2023 and 2024 revisions.

What is the median guideline value in Nandhivaram?

The median guideline value in Nandhivaram is Rs 1,500 per sq.ft, which is the same as the current guideline value for Suresh Avenue.

What are the stamp duty rates for property in Suresh Avenue?

The stamp duty for property in Suresh Avenue is charged at 7% of the guideline value or sale price, whichever is higher. For a plot valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000.

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

The Sub Registrar Office covering Suresh Avenue is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.