Guideline Value for N.S.R. Nagar

N.S.R. Nagar guideline value

The current guideline value of N.S.R. Nagar in Kannampalayam village, under the Kunrathur SRO, is Rs 765 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - III.

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

The guideline value for N.S.R. Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 100 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012, marking a 600% increase. However, from 2012 to 2017, the value decreased to Rs 469 per sq.ft, a drop of 33%.

In the subsequent revisions, the value rose to Rs 700 per sq.ft in 2023, and then to Rs 765 per sq.ft in 2024, reflecting a 9% increase. Overall, from 2007 to 2024, the guideline value has increased by 665%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Kannampalayam

Kannampalayam village has a total of 75 streets under the Kunrathur SRO, with guideline values ranging from Rs 765 to Rs 4,000 per sq.ft. The median guideline value for these streets is Rs 1,375 per sq.ft, placing N.S.R. Nagar's 2024 figure below that median.

• Neela Ganapathi Garden: Rs 1,375 per sq.ft (2024)
• Perumal Koil Street: Rs 765 per sq.ft (2024)
• P.K.S. Nagar: Rs 1,320 per sq.ft (2024)
• Middle Street: Rs 765 per sq.ft (2024)
• Radha Krishna Garden: Rs 935 per sq.ft (2024)
• Radhakrishnan Nagar: Rs 935 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 765 per sq.ft, the total guideline value amounts to Rs 7,65,000. The stamp duty at 7% would be Rs 53,550, and the registration fee at 2% would be Rs 15,300, bringing the total fees to Rs 68,850. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

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

The Sub Registrar Office that covers N.S.R. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. To find your specific SRO, you can visit find your SRO.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Kannampalayam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

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

The current guideline value of N.S.R. Nagar is Rs 765 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 100 per sq.ft in 2007 to Rs 765 per sq.ft in 2024, marking an overall increase of 665% over the years.

What is the registration office for N.S.R. Nagar?

The registration office for N.S.R. Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What are the stamp duty and registration fees for property in N.S.R. Nagar?

For a property valued at Rs 7,65,000, the stamp duty would be Rs 53,550 and the registration fee would be Rs 15,300, totaling Rs 68,850.

How does the guideline value affect property transactions?

The guideline value is used to determine the minimum registration value for properties. Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price during property transactions.