Guideline Value for N.R.K. NAGAR

N.R.K. Nagar guideline value

The current guideline value of N.R.K. Nagar, located in Puthur village under the Tambaram Joint 1 SRO, is Rs 2,210 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - IV.

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

The guideline value for N.R.K. Nagar has undergone several revisions over the years. The 2017 revision set the value at Rs 1,340 per sq.ft, which increased to Rs 2,010 per sq.ft in the 2023 revision. The current 2024 revision reflects a further increase to Rs 2,210 per sq.ft, marking a 10% rise from the previous year. Overall, from 2017 to 2024, the guideline value has increased by 65%.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. The increase from 2017 to 2023 was 50%, indicating significant changes in the guideline value over the years.

Guideline values in Puthur

Puthur village has 63 streets under the Tambaram Joint 1 SRO, with 2024 guideline values ranging from Rs 330 to Rs 4,600 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing N.R.K. Nagar's 2024 figure above that median.

• Nahar Enclave: Rs 1,110 per sq.ft (2024)
• Nagarathinam Avenue: Rs 770 per sq.ft (2024)
• Muthu Housing Colony: Rs 1,100 per sq.ft (2024)
• Murugan Nagar & J.P. Avenue: Rs 2,200 per sq.ft (2024)
• Murugan Enclave: Rs 1,650 per sq.ft (2024)
• Murugan Avenue Phase V: Rs 1,100 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 2,210 per sq.ft, the total guideline value would be Rs 22,10,000. The stamp duty at 7% would amount to Rs 1,54,700, and the registration fee at 2% would be Rs 44,200, bringing the total to Rs 1,98,900. It is important to note that duty is charged on the higher of the guideline value and the sale price.

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

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

The N.R.K. Nagar area is covered by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Puthur. It serves as the basis for calculating the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

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

The current guideline value of N.R.K. Nagar is Rs 2,210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,010 per sq.ft in 2023, and now to Rs 2,210 per sq.ft in 2024. This represents a total increase of 65% from 2017 to 2024.

What are the other guideline values in Puthur?

In Puthur, the guideline values for other streets range from Rs 330 to Rs 4,600 per sq.ft, with a median value of Rs 1,100 per sq.ft. N.R.K. Nagar's value is above this median.

What fees are associated with buying property in N.R.K. Nagar?

When buying property in N.R.K. Nagar, the stamp duty is charged at 7%, and the registration fee is charged at 2% of the guideline value or sale price, whichever is higher. For example, the total fees for a 1,000 sq.ft plot would be Rs 1,98,900.

Where can I find the Sub Registrar Office for N.R.K. Nagar?

The Sub Registrar Office covering N.R.K. Nagar is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059. This office handles all registration processes for the area.