Guideline Value for English Electric Nagar

English Electric Nagar guideline value

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

How the guideline value of English Electric Nagar has changed

The guideline value for English Electric Nagar has seen significant changes over the years. In 2007, the value was Rs 400 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft by 2012. However, this figure then decreased to Rs 2,010 per sq.ft in 2017. The value saw a substantial rise again, reaching Rs 3,000 per sq.ft in 2023 and finally rising to the current value of Rs 3,300 per sq.ft in 2024.

Between the revisions, the changes were as follows: from 2007 to 2012, there was an increase of 650%; from 2012 to 2017, a decrease of 33%; from 2017 to 2023, an increase of 49%; and from 2023 to 2024, an increase of 10%. Overall, from 2007 to 2024, the guideline value has increased by 725%. There are no figures available for the revisions in 2002 and 2003 for this street.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. The guideline value of English Electric Nagar is above this median.

• Farthima Nagar: Rs 2,200 per sq.ft (2024)
• Fathima Nagar Extn: Rs 2,200 per sq.ft (2024)
• Durikannu Salai: Rs 2,200 per sq.ft (2024)
• Duraisamy Street/Nagar: Rs 2,160 per sq.ft (2024)
• Durairagubathi Street: Rs 2,160 per sq.ft (2024)
• Durai Pandian Street: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in English Electric Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would amount to Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 English Electric Nagar?

The Sub Registrar Office that covers English Electric Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Nemilicherry. It is used to determine the stamp duty and registration fees that must be paid, ensuring compliance with local regulations.

When buying or selling property, the guideline value is considered as a reference point. Buyers should be aware that the stamp duty is calculated based on the higher amount between the guideline value and the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of English Electric Nagar?

The current guideline value of English Electric 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, from Rs 400 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting a total increase of 725% over the years.

What are the stamp duty rates applicable in English Electric Nagar?

The stamp duty rate for property transactions in English Electric Nagar is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for English Electric Nagar?

The Sub Registrar Office for English Electric Nagar is located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What are the guideline values of other streets in Nemilicherry?

Other streets in Nemilicherry have varying guideline values, with rates ranging from Rs 1,100 to Rs 3,300 per sq.ft, with specific streets like Farthima Nagar and Durikannu Salai valued at Rs 2,200 per sq.ft in 2024.