Guideline Value for Himachal Nagar

Himachal Nagar guideline value

The current guideline value of Himachal Nagar, located in Madanandapuram village under the Kunrathur SRO, is Rs 3,190 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - III.

How the guideline value of Himachal Nagar has changed

Starting from the 2007 revision, the guideline value was Rs 1,200 per sq.ft. This increased significantly to Rs 2,900 per sq.ft in 2012, representing a 142% rise. However, it then decreased to Rs 1,943 per sq.ft in 2017, marking a decline of 33%. The value saw a substantial increase to Rs 2,900 per sq.ft in 2023, reflecting a 49% growth. The most recent revision in 2024 set the guideline value at Rs 3,190 per sq.ft, which is a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 166%.

Guideline values in Madanandapuram

Madanandapuram village has 94 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 2,530 to Rs 5,830 per sq.ft, with a median value of Rs 3,520 per sq.ft. The guideline value for Himachal Nagar is below this median.

• Himachal Nagar Annex: Rs 3,190 per sq.ft (2024)
• Himatchal Nagar Phase II: Rs 3,190 per sq.ft (2024)
• Gurusamy Nagar: Rs 3,960 per sq.ft (2024)
• G.K. Nagar: Rs 3,190 per sq.ft (2024)
• Jayalakshmi Nagar: Rs 3,190 per sq.ft (2024)
• E,.V.P. Santhosh Nagar Extension II: Rs 3,960 per sq.ft (2024)

Stamp duty and registration fee for property in Himachal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value would be Rs 31,90,000. The stamp duty at 7% would amount to Rs 2,23,300, while the registration fee at 2% would be Rs 63,800. Together, the total cost for stamp duty and registration would be Rs 2,87,100. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Himachal Nagar?

The Sub Registrar Office that covers Himachal Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Madanandapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the transaction is recorded accurately and legally.

When buying or selling property, the guideline value helps both parties understand the minimum value that the property can be assessed at for taxation purposes. This ensures transparency and compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Himachal Nagar?

The current guideline value of Himachal Nagar is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 3,190 per sq.ft in 2024, showing an overall increase of 166% over these years.

What is the land classification for Himachal Nagar?

The land classification for Himachal Nagar is Residential Special Type - III.

What are the stamp duty and registration fees for property in Himachal Nagar?

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a 1,000 sq.ft plot, the total costs would amount to Rs 2,87,100.

Which office handles registrations for Himachal Nagar?

The Kunrathur Sub Registrar Office handles registrations for Himachal Nagar, located at No.59, Road Street, Kundrathur, Chennai -600 069.