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

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

The current guideline value for T.N.H.B.Periyar Nagar North Avenue is Rs 6,600 per sq.ft, effective from 1 July 2024. This property is located in Korattur village and falls under the Villivakkam SRO. The land classification is Residential Class I Type - II.

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

Starting from the 2007 revision, the guideline value for T.N.H.B.Periyar Nagar North Avenue was Rs 1,100 per sq.ft. This figure saw a significant increase to Rs 6,000 per sq.ft in both the 2012 and 2023 revisions, indicating a 445% rise from 2007 to 2012. However, there was no change from 2012 to 2023, maintaining the value at Rs 6,000 per sq.ft.

The most recent revision in 2024 raised the guideline value to Rs 6,600 per sq.ft, reflecting a 10% increase from the previous year's figure of Rs 6,000 per sq.ft. Overall, from the 2007 revision to the current 2024 value, there has been a substantial increase of 500%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that have a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft, with a median value of Rs 2,500 per sq.ft. The guideline value for T.N.H.B.Periyar Nagar North Avenue is above this median.

• T.N.H.B.Periyar Nagar East Avenue: Rs 7,100 per sq.ft (2024)
• T.N.H.B.Periyar Nagar South Avenue: Rs 6,600 per sq.ft (2024)
• T.N.H.B.Periyar Nagar Central Avenue: Rs 7,100 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 North Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total charges to Rs 5,94,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

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

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

The T.N.H.B.Periyar Nagar North Avenue is covered by the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Korattur. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the higher of the guideline value or the sale price.

Understanding the guideline value helps buyers and sellers comply with legal requirements during property transactions. It is essential to refer to the latest figures to ensure accurate calculations and avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value for T.N.H.B.Periyar Nagar North Avenue?

The current guideline value for T.N.H.B.Periyar Nagar North Avenue is Rs 6,600 per sq.ft, effective from 1 July 2024.

How much 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 6,600 per sq.ft in 2024, marking a 500% increase overall.

What is the registration office for T.N.H.B.Periyar Nagar North Avenue?

The registration office for T.N.H.B.Periyar Nagar North Avenue is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

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

Stamp duty for properties in T.N.H.B.Periyar Nagar North Avenue is calculated at 7% of the guideline value or sale price, whichever is higher, along with a registration fee of 2%.

What are the guideline values for other streets in Korattur?

Other streets in Korattur have varying guideline values, ranging from Rs 3,300 to Rs 7,100 per sq.ft as of 2024, with T.N.H.B.Periyar Nagar North Avenue being above the median value of Rs 2,500 per sq.ft.