Guideline Value for N. K. C. Nagar

N. K. C. Nagar guideline value

The current guideline value of N. K. C. Nagar is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Kayirambedu village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - II.

How the guideline value of N. K. C. Nagar has changed

The guideline value for N. K. C. Nagar has seen several revisions over the years. In 2007, the value was Rs 210 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a rise of 233%. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, a drop of 33%. The value then rose to Rs 700 per sq.ft in 2023 and has remained unchanged at this figure in the 2024 revision, showing no percentage change.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Kayirambedu

In Kayirambedu, there are 120 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 400 to Rs 3,550 per sq.ft. The median value is Rs 700 per sq.ft, which is equal to the current guideline value of N. K. C. Nagar.

• Om Sakthi Avenue: Rs 500 per sq.ft (2024)
• Nethaji Nagar: Rs 700 per sq.ft (2024)
• Om Sakthi Nagar Avenue Extn -II: Rs 500 per sq.ft (2024)
• Orchid Villa Nagar: Rs 500 per sq.ft (2024)
• M.G. Nagar Extension: Rs 2,389 per sq.ft (2024)
• M.G.Nagar: Rs 2,389 per sq.ft (2024)

Stamp duty and registration fee for property in N. K. C. Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value amounts to Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total cost for these fees Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers N. K. C. Nagar?

The N. K. C. Nagar falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, 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 Kayirambedu

The guideline value is a crucial factor in the registration process when buying or selling property in Kayirambedu. It is used to determine the stamp duty and registration fees payable at the time of registration.

When a property is sold, the buyer must pay the stamp duty based on the guideline value or the sale price, whichever is higher. This ensures that the government collects the appropriate fees based on the property's assessed value.

Frequently asked questions

What is the current guideline value of N. K. C. Nagar?

The current guideline value of N. K. C. Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 210 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and returned to Rs 700 per sq.ft in 2023 and 2024.

What is the land classification of N. K. C. Nagar?

N. K. C. Nagar is classified as Residential Special Type - II, which indicates its suitability for residential development.

What are the stamp duty and registration fees for property in N. K. C. Nagar?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 7,00,000, the total fees would be Rs 63,000.

Which office handles registrations for N. K. C. Nagar?

The Chengleput Joint II Sub Registrar Office handles registrations for N. K. C. Nagar, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.