Guideline Value for N.K.S. NAGAR

N.K.S. Nagar guideline value

The current guideline value of N.K.S. Nagar, located in Karapakkam village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - III.

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

The guideline value for N.K.S. Nagar has seen several revisions over the years. In 2007, the value was Rs 300 per sq.ft, which increased significantly to Rs 1,500 per sq.ft in 2012. However, it then decreased to Rs 1,005 per sq.ft in 2017. The 2023 revision brought the value up to Rs 1,500 per sq.ft, and the most recent 2024 revision set it at Rs 1,700 per sq.ft.

From 2007 to 2024, the overall increase in guideline value is 467%. Notably, the increase from 2023 to 2024 is 13%, while from 2017 to 2023, it was 49%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, which is equal to the current guideline value for N.K.S. Nagar.

• N.K.S. NAGAR 2nd CROSS STREET: Rs 1,700 per sq.ft (2024)
• N.K.S. NAGAR 3rd CROSS STREET: Rs 1,700 per sq.ft (2024)
• N.K.S. Nagar Main Road: Rs 1,700 per sq.ft (2024)
• Oak Wood: Rs 3,000 per sq.ft (2024)
• Old Mahabalipuram Road: Rs 8,500 per sq.ft (2024)
• Nehru Street: Rs 2,200 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current rate of Rs 1,700 per sq.ft, the guideline value would be Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000. It is important to note that 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 N.K.S. Nagar?

The Sub Registrar Office that covers N.K.S. Nagar is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Karapakkam. It is used to determine the stamp duty and registration fees that need to be paid when a property is bought or sold. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

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

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

How has the guideline value changed over the years?

The guideline value has changed from Rs 300 per sq.ft in 2007 to Rs 1,700 per sq.ft in 2024, reflecting an overall increase of 467% over the years.

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

For a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000, and the registration fee would be Rs 34,000, totaling Rs 1,53,000.

Which office handles the registration for N.K.S. Nagar?

The Neelankarai Sub Registrar Office handles the registration for N.K.S. Nagar, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. The higher of the guideline value and the sale price is used for calculating these fees.