Guideline Value for Marshal Nesamani Nagar

Marshal Nesamani Nagar guideline value

The current guideline value of Marshal Nesamani Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024. This area is located in Thirumullaivoyal village under the Ambattur SRO and is classified as Residential Class I Type - I.

How the guideline value of Marshal Nesamani Nagar has changed

The guideline value of Marshal Nesamani Nagar has seen several revisions over the years. In 2003, the value was Rs 110 per sq.ft, which increased to Rs 200 per sq.ft in 2007. This was a significant rise of 82%. The value then surged dramatically to Rs 2,200 per sq.ft in 2012, marking a 1000% increase. However, it dropped to Rs 1,474 per sq.ft in 2017, representing a decrease of 33%. The value further increased to Rs 2,200 per sq.ft in 2023, before reaching the current value of Rs 2,400 per sq.ft in 2024, which is a 9% rise.

Overall, from 2003 to 2024, the guideline value has increased by 2082%. It is noteworthy that the register has no figure for this street in 2002.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value is Rs 2,400 per sq.ft, which is equal to the current value of Marshal Nesamani Nagar.

• Maruthi Nagar: Rs 2,400 per sq.ft (2024)
• Maruthi Nagar (S.No.149 to 157) AIR Backside: Rs 990 per sq.ft (2024)
• Masilamanieswarar Koil Street (Manikanda Puram): Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar 1st Street: Rs 2,400 per sq.ft (2024)
• Masilamanieswarar Nagar 2nd Street: Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Marshal Nesamani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value amounts to Rs 24,00,000. The stamp duty at 7% would be Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Marshal Nesamani Nagar?

The Sub Registrar Office that covers Marshal Nesamani Nagar is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thirumullaivoyal. It serves as a reference point for determining the stamp duty and registration fees applicable during the property transaction. Buyers and sellers should be aware that the guideline value is used to calculate these fees, ensuring compliance with local regulations.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that the government receives the appropriate revenue from property transactions, reflecting the value of the property in the current market.

Frequently asked questions

What is the current guideline value of Marshal Nesamani Nagar?

The current guideline value of Marshal Nesamani Nagar is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 110 per sq.ft in 2003 to Rs 2,400 per sq.ft in 2024, reflecting an overall increase of 2082% over this period.

What is the classification of land in Marshal Nesamani Nagar?

The land in Marshal Nesamani Nagar is classified as Residential Class I Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total fee of Rs 2,16,000 based on the current guideline value.

Where can I find the Sub Registrar Office for Marshal Nesamani Nagar?

The Ambattur Sub Registrar Office covers Marshal Nesamani Nagar, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.