Guideline Value for N.M.NAGAR

N.M.Nagar guideline value

The current guideline value of N.M.Nagar, located in Mukthapudupattu village under the Avadi SRO, is Rs 802 per sq.ft as per the 2024 revision effective from 1 July 2024. This area falls under the Residential Class II Type - II land classification.

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

The guideline value for N.M.Nagar has seen several revisions over the years. In 2007, the value was Rs 205 per sq.ft, which increased significantly to Rs 600 per sq.ft in 2012. However, it experienced a decline to Rs 402 per sq.ft in 2017. The value remained unchanged at Rs 400 per sq.ft in 2023, before rising dramatically to Rs 802 per sq.ft in the 2024 revision, marking a 101% increase from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 291%. Notably, the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Mukthapudupattu

Mukthapudupattu village has a total of 37 streets under the Avadi SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 804 per sq.ft. The median guideline value for these streets is Rs 802 per sq.ft, which is the same as the current value for N.M.Nagar.

• Pallikooda St: Rs 802 per sq.ft (2024)
• Nadu Street(Center St): Rs 804 per sq.ft (2024)
• Periyar Nagar & Streets: Rs 804 per sq.ft (2024)
• Pillaiyar Koil St: Rs 800 per sq.ft (2024)
• Police Station & 2nd St: Rs 804 per sq.ft (2024)
• Police Station Road: Rs 802 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 802 per sq.ft, the total guideline value comes to Rs 8,02,000. The stamp duty at 7% would be Rs 56,140, and the registration fee at 2% would be Rs 16,040, bringing the total cost for these fees to Rs 72,180. 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.M.Nagar?

The Sub Registrar Office that covers N.M.Nagar is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Mukthapudupattu. It serves as a benchmark for calculating the stamp duty and registration fees, ensuring that these costs are based on a standardized valuation.

When buying or selling property, the guideline value helps both parties understand the minimum value that will be considered for taxation purposes. This ensures transparency and fairness in the property transaction process.

Frequently asked questions

What is the current guideline value of N.M.Nagar?

The current guideline value of N.M.Nagar is Rs 802 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 205 per sq.ft in 2007 to Rs 802 per sq.ft in 2024, showing an overall increase of 291% over the years.

What is the land classification of N.M.Nagar?

N.M.Nagar is classified as Residential Class II Type - II under the land classification system.

Where is the Sub Registrar Office for N.M.Nagar located?

The Avadi Sub Registrar Office is located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.

How is stamp duty calculated for properties in N.M.Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property with a guideline value of Rs 8,02,000 would incur a stamp duty of Rs 56,140 at 7%.