Guideline Value for David Nagar (Phase-2)

David Nagar (Phase-2) guideline value

The current guideline value of David Nagar (Phase-2) 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 street is Residential Special Type - I.

How the guideline value of David Nagar (Phase-2) has changed

The guideline value for David Nagar (Phase-2) has undergone several revisions over the years. In 2007, the value was set at Rs 175 per sq.ft, which increased significantly to Rs 500 per sq.ft in 2012. However, this value saw a decrease of 33% to Rs 335 per sq.ft in 2017. The value remained unchanged at Rs 500 per sq.ft in both 2023 and the latest revision in 2024, indicating a 49% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 186%.

Guideline values in Ammanambakkam

In Ammanambakkam, there are 15 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 500 per sq.ft, with a median value of Rs 500 per sq.ft. David Nagar (Phase-2) aligns with this median value.

• David Nagar (Phase-1) Extn: Rs 500 per sq.ft (2024)
• David Nagar (Phase-3): Rs 500 per sq.ft (2024)
• David Nagar (Phase-1): 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-2)

For a 1,000 sq.ft plot at the current guideline value of Rs 500 per sq.ft, the total 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, bringing the total charges to Rs 45,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers David Nagar (Phase-2)?

The Sub Registrar Office that covers David Nagar (Phase-2) is 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 more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ammanambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction, ensuring that the government receives the appropriate taxes based on the property's assessed value.

When a property is sold, the guideline value helps in establishing a fair price for the transaction. It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with registration requirements and to avoid any potential penalties.

Frequently asked questions

What is the current guideline value of David Nagar (Phase-2)?

The current guideline value of David Nagar (Phase-2) 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, with the most recent revision in 2024 maintaining the value at Rs 500 per sq.ft, unchanged from the 2023 revision. The value increased from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2012, and overall, it has increased by 186% since 2007.

What is the land classification for David Nagar (Phase-2)?

David Nagar (Phase-2) is classified as Residential Special Type - I. This classification indicates the type of development and usage permitted in the area.

Where can I find the Sub Registrar Office for David Nagar (Phase-2)?

The Gooduvancheri Sub Registrar Office covers David Nagar (Phase-2) and is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery-603202, Chengalpattu registration zone.

How is stamp duty calculated for properties in David Nagar (Phase-2)?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, for a property valued at Rs 5,00,000, the stamp duty would be calculated at 7%, resulting in Rs 35,000.