Guideline Value for N.C.Nagar

N.C.Nagar guideline value

The current guideline value for N.C.Nagar, located in Nandambakkam village under the Padappai SRO, is Rs 440 per sq.ft. This value is effective from 1 July 2024 and falls under the Residential Class V Type - III land classification.

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

The guideline value of N.C.Nagar has seen significant changes over the years. The 2007 revision set the value at Rs 75 per sq.ft, which then increased dramatically to Rs 400 per sq.ft in 2012, marking a rise of 433%. However, the value dropped to Rs 268 per sq.ft in 2017, reflecting a decrease of 33%. From 2017 to 2023, the value surged to Rs 400 per sq.ft, an increase of 49%. The most recent revision in 2024 raised the guideline value to Rs 440 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 in the register for this street. Overall, the guideline value has increased by 487% from Rs 75 per sq.ft in 2007 to Rs 440 per sq.ft in 2024.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft, with a median value of Rs 880 per sq.ft. The guideline value for N.C.Nagar is below this median.

• Nandhavanam Nagar Extn (S.No.549/1B): Rs 990 per sq.ft (2024)
• Nandhavanam Nagar Extn: Rs 990 per sq.ft (2024)
• Nandavanam Nagar: Rs 990 per sq.ft (2024)
• Nandambakkam To Kundrathur Road: Rs 1,210 per sq.ft (2024)
• Moorthy Nagar: Rs 440 per sq.ft (2024)
• Panjatcharam Nagar: Rs 990 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, bringing the total to Rs 39,600. Please note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers N.C.Nagar?

The Sub Registrar Office that covers N.C.Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in property transactions in Nandambakkam. It is used to determine the stamp duty and registration fees payable during the sale or purchase of a property. This ensures that the transaction adheres to the legal requirements set by the Registration Department.

When registering a property, the buyer must pay the stamp duty based on the higher of the guideline value or the sale price. This means that understanding the guideline value is essential for both buyers and sellers to accurately calculate their expenses during a property transaction.

Frequently asked questions

What is the current guideline value for N.C.Nagar?

The current guideline value for N.C.Nagar is Rs 440 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 75 per sq.ft in 2007 to Rs 440 per sq.ft in 2024, reflecting an overall increase of 487% over the years.

What is the median guideline value in Nandambakkam?

The median guideline value in Nandambakkam for 2024 is Rs 880 per sq.ft, with N.C.Nagar's value being below this median.

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

The stamp duty for a property valued at Rs 4,40,000 in N.C.Nagar would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Where is the Padappai Sub Registrar Office located?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.