Guideline Value for David Nagar

David Nagar guideline value

The current guideline value of David Nagar, located in Padappai village under the Padappai SRO, is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is classified as Commercial Class I Type - I.

How the guideline value of David Nagar has changed

The guideline value for David Nagar has seen significant changes over the years. In 2003, the value was Rs 50 per sq.ft, which increased to Rs 85 per sq.ft in 2007. This marked a substantial rise of 70%. Following this, the value surged dramatically to Rs 3,000 per sq.ft in 2012, reflecting an increase of 3429%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The subsequent revision in 2023 brought the value back up to Rs 3,000 per sq.ft, which then increased to Rs 3,300 per sq.ft in 2024, marking a 10% rise.

Overall, the guideline value has increased by 6500% from 2003 to 2024. It is important to note that there is no figure available for the year 2002 in the register for this street.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 4,000 per sq.ft. The median value for these streets is Rs 830 per sq.ft, placing David Nagar's 2024 figure above this median.

• Chokkalingam Nagar: Rs 1,320 per sq.ft (2024)
• Chidambaram Nagar: Rs 830 per sq.ft (2024)
• Chennai Teachers Guild City Phase-I: Rs 740 per sq.ft (2024)
• Car Street: Rs 830 per sq.ft (2024)
• East Mada Veethi: Rs 660 per sq.ft (2024)
• B.M.D.Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in David Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers David Nagar?

David Nagar falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as the basis for calculating stamp duty and registration fees, ensuring that the appropriate taxes are levied based on the property's value.

When buying or selling property, the guideline value helps in determining the minimum value at which a property can be registered. This ensures transparency in transactions and helps prevent undervaluation of properties.

Frequently asked questions

What is the current guideline value of David Nagar?

The current guideline value of David Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 50 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 6500% over this period.

What is the registration fee for property in David Nagar?

The registration fee is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 33,00,000, the registration fee would be Rs 66,000 at 2%.

Which Sub Registrar Office covers David Nagar?

David Nagar is covered by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

What are the other streets in Padappai with their guideline values?

Other streets in Padappai include Chokkalingam Nagar at Rs 1,320 per sq.ft, Chidambaram Nagar at Rs 830 per sq.ft, and Chennai Teachers Guild City Phase-I at Rs 740 per sq.ft, among others.