Guideline Value for David Nagar (Phase-1)

David Nagar (Phase-1) guideline value

The current guideline value of David Nagar (Phase-1) is Rs 500 per sq.ft, effective from 1 July 2024. This area is located in Ammanambakkam village and falls under the Gooduvancheri SRO. The land classification for this property is Residential Special Type - I.

How the guideline value of David Nagar (Phase-1) has changed

The guideline value for David Nagar (Phase-1) has seen several revisions over the years. The earliest recorded revision was in 2007, with a guideline value of Rs 175 per sq.ft. This increased to Rs 500 per sq.ft in 2012, marking a significant rise of 186%. However, the value decreased to Rs 335 per sq.ft in 2017, a drop of 33%. The guideline value then stabilized at Rs 500 per sq.ft in both the 2023 and 2024 revisions, showing no change from the previous year.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 186%, reflecting the fluctuations and stabilization in the more recent years.

Guideline values in Ammanambakkam

In Ammanambakkam, 15 streets under the Gooduvancheri SRO have a guideline value for 2024 ranging from Rs 400 to Rs 500 per sq.ft, with the median value being Rs 500 per sq.ft. David Nagar (Phase-1) aligns with this median value.

• David Nagar (Phase-1) Extn: Rs 500 per sq.ft (2024)
• David Nagar (Phase-2): Rs 500 per sq.ft (2024)
• David Nagar (Phase-3): Rs 500 per sq.ft (2024)
• Babu Nagar: Rs 400 per sq.ft (2024)
• Arunachaleeswarar Farm land: Rs 400 per sq.ft (2024)
• Annai Abirami Nagar: Rs 500 per sq.ft (2024)

Stamp duty and registration fee for property in David Nagar (Phase-1)

For a 1,000 sq.ft plot at the current rate of Rs 500 per sq.ft, the guideline value amounts to Rs 5,00,000. The stamp duty at 7% would be Rs 35,000, and the registration fee at 2% would be Rs 10,000, totaling Rs 45,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers David Nagar (Phase-1)?

David Nagar (Phase-1) is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value plays a crucial role during property registration in Ammanambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of David Nagar (Phase-1)?

The current guideline value of David Nagar (Phase-1) is Rs 500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 175 per sq.ft in 2007, rising to Rs 500 per sq.ft in 2012, dropping to Rs 335 per sq.ft in 2017, and stabilizing at Rs 500 per sq.ft in 2023 and 2024.

What is the land classification for David Nagar (Phase-1)?

David Nagar (Phase-1) is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the stamp duty and registration fees for properties in David Nagar (Phase-1)?

For a plot of 1,000 sq.ft at the current guideline value, the total stamp duty and registration fees would amount to Rs 45,000, based on the applicable rates.

Which office handles registrations for David Nagar (Phase-1)?

The Gooduvancheri Sub Registrar Office handles registrations for David Nagar (Phase-1), located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.