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

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

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

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

The guideline value for T.N.H.B.Periyar Nagar South Avenue has undergone several revisions over the years. In 2007, the value was Rs 1,100 per sq.ft, which increased significantly to Rs 6,000 per sq.ft in 2012. However, this value decreased to Rs 4,020 per sq.ft in 2017. Following this, the guideline value rose to Rs 6,000 per sq.ft in 2023, and further increased by 10% to the current value of Rs 6,600 per sq.ft in 2024. The register has no figure for this street for the years 2002 and 2003.

From 2007 to 2012, the guideline value saw a remarkable increase of 445%. However, there was a decline of 33% from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and ultimately, from 2007 to 2024, the overall increase is 500%.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median value for these streets is Rs 2,500 per sq.ft, placing T.N.H.B.Periyar Nagar South Avenue's 2024 figure above that median.

• T.N.H.B.Periyar Nagar North Avenue: Rs 6,600 per sq.ft (2024)
• T.N.H.B.Periyar Nagar East Avenue: Rs 7,100 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 South 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 is charged at 7%, resulting in Rs 4,62,000, while the registration fee at 2% totals Rs 1,32,000. Therefore, the combined cost for these fees is Rs 5,94,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The T.N.H.B.Periyar Nagar South Avenue falls under the jurisdiction of 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 information.

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 minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for tax purposes.

When buying or selling property, the guideline value will influence the stamp duty and registration fees that need to be paid. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, making it essential to understand the current rates.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has seen several changes, starting from Rs 1,100 per sq.ft in 2007, increasing to Rs 6,600 per sq.ft in 2024, with notable fluctuations in between.

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

The land classification for T.N.H.B.Periyar Nagar South Avenue is Residential Class I Type - II.

Where can I find the registration office for T.N.H.B.Periyar Nagar South Avenue?

The registration office for T.N.H.B.Periyar Nagar South 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 South Avenue?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 66,00,000 incurs a stamp duty of Rs 4,62,000 at a rate of 7%.