Guideline Value for Thottam Avenue

Thottam Avenue guideline value

The current guideline value of Thottam 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 Thottam Avenue has changed

The guideline value for Thottam Avenue has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 121 per sq.ft. This increased significantly to Rs 328 per sq.ft in 2007, marking a change of +171%. The 2012 revision set the value at Rs 1,500 per sq.ft, reflecting a substantial increase of +357%. However, in 2017, the value dropped to Rs 1,005 per sq.ft, a decrease of -33%. The 2023 revision maintained the value at Rs 1,500 per sq.ft, and the 2024 revision also holds the same figure, resulting in no change of +0% between 2023 and 2024. The register has no figure for the year 2003.

Overall, from the 2002 revision to the 2024 revision, the guideline value has increased by +1,140%. The most recent revisions in 2023 and 2024 indicate stability in the guideline value, while the earlier revisions show significant fluctuations.

Guideline values in Nandhivaram

Nandhivaram has a total of 169 streets under the Gooduvancheri SRO, with 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 for Thottam Avenue.

• Thulukkanathamman Kovil Street: Rs 1,500 per sq.ft (2024)
• Udhayasuriyan Nagar: Rs 2,000 per sq.ft (2024)
• Usha Nagar: Rs 1,200 per sq.ft (2024)
• Usha Nagar Extn: Rs 1,200 per sq.ft (2024)
• Vallalar Nagar: Rs 1,500 per sq.ft (2024)
• Thirumakal Township: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Thottam Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value is Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, totaling Rs 1,35,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Thottam Avenue?

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

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

The guideline value plays a crucial role in the registration of property transactions in Nandhivaram. It is used to determine the stamp duty and registration fees that buyers and sellers must pay during the property registration process. This ensures that the transaction is recorded accurately and legally.

When a property is bought or sold, the guideline value is assessed to ensure that the correct fees are applied. This value serves as a benchmark for the transaction, helping to maintain transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Thottam Avenue?

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

How much has the guideline value changed over the years?

The guideline value has changed significantly, with an overall increase of +1,140% from 2002 to 2024. The most notable changes occurred between 2007 and 2012, and from 2017 to 2023.

What is the land classification for Thottam Avenue?

The land classification for Thottam Avenue is Residential Special Type - I, indicating its designation for residential purposes.

What are the stamp duty and registration fees for properties in Thottam Avenue?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Where is the Sub Registrar Office for Thottam Avenue located?

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