Guideline Value for T.N.H.B.PERIYAR NAGAR CENTARL AVENUE

T.N.H.B.Periyar Nagar Centarl Avenue guideline value

The current guideline value of T.N.H.B.Periyar Nagar Centarl Avenue is Rs 7,100 per sq.ft. This street is located in Korattur village, under the Villivakkam Sub Registrar Office. The land classification for this area is Residential Class I Type - I.

How the guideline value of T.N.H.B.Periyar Nagar Centarl Avenue has changed

The guideline value for T.N.H.B.Periyar Nagar Centarl Avenue has seen several revisions over the years. In 2007, the guideline value was Rs 1,100 per sq.ft, which increased significantly to Rs 6,500 per sq.ft in 2012. However, this value decreased to Rs 4,355 per sq.ft in 2017. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft, marking a 63% increase from the 2017 figure.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 545%. The register does not have figures for the years 2023, 2003, and 2002 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO, with guideline values ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, placing T.N.H.B.Periyar Nagar Centarl Avenue above this median.

• T.N.H.B.Periyar Nagar East Avenue: Rs 7,100 per sq.ft (2024)
• T.N.H.B.Periyar Nagar North Avenue: Rs 6,600 per sq.ft (2024)
• T.N.H.B.Periyar Nagar South Avenue: Rs 6,600 per sq.ft (2024)
• T.V.S.Nagar Annex: Rs 3,300 per sq.ft (2024)
• T.V.S.Nagar Annex 1 To 3: Rs 3,300 per sq.ft (2024)
• T.V.S.Nagar Annex 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in T.N.H.B.Periyar Nagar Centarl Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, totaling Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers T.N.H.B.Periyar Nagar Centarl Avenue?

The T.N.H.B.Periyar Nagar Centarl Avenue is covered by 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 more information.

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

The guideline value is a crucial factor during the registration of property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps both parties understand the minimum value of the property, which is essential for compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of T.N.H.B.Periyar Nagar Centarl Avenue?

The current guideline value of T.N.H.B.Periyar Nagar Centarl Avenue is Rs 7,100 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 1,100 per sq.ft in 2007 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 545% over the years.

What is the land classification for T.N.H.B.Periyar Nagar Centarl Avenue?

T.N.H.B.Periyar Nagar Centarl Avenue is classified as Residential Class I Type - I, indicating its suitability for residential development.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is stamp duty calculated for properties in T.N.H.B.Periyar Nagar Centarl Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 71,00,000, the stamp duty would be Rs 4,97,000 at 7%.