Guideline Value for NACHIYAPURAM

Nachiyapuram guideline value

The current guideline value of Nachiyapuram is Rs 330 per sq.ft, effective from 1 July 2024. This area is located in Athipattu village and falls under the Thiruvottiyur SRO. The land classification for this street is Residential Class I Type - I.

How the guideline value of Nachiyapuram has changed

The guideline value for Nachiyapuram has seen significant changes over the years. The 2017 revision recorded a value of Rs 201 per sq.ft, which increased to Rs 300 per sq.ft in the 2023 revision, marking a 49% rise. The most recent 2024 revision set the value at Rs 330 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 64%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street.

Guideline values in Athipattu

Athipattu village has 108 streets under the Thiruvottiyur SRO that carry a 2024 guideline value ranging from Rs 220 to Rs 462 per sq.ft. The median value for these streets is Rs 330 per sq.ft, which is the same as the guideline value for Nachiyapuram.

• Muthu Anvenue: Rs 330 per sq.ft (2024)
• Nandanar Street: Rs 330 per sq.ft (2024)
• Munaga Avenue: Rs 330 per sq.ft (2024)
• Mrc Nagar: Rs 220 per sq.ft (2024)
• Nethaji Street / Nagar: Rs 330 per sq.ft (2024)
• New Balaji Nagar: Rs 330 per sq.ft (2024)

Stamp duty and registration fee for property in Nachiyapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 330 per sq.ft, the total guideline value would be Rs 3,30,000. The stamp duty at 7% would amount to Rs 23,100, and the registration fee at 2% would be Rs 6,600, resulting in a total cost of Rs 29,700. 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 Nachiyapuram?

The Sub Registrar Office that covers Nachiyapuram is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration of property transactions in Athipattu. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the buying or selling process.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two values is used to calculate the applicable duties and fees. This ensures that the registration process is aligned with the official valuation of properties in the area.

Frequently asked questions

What is the current guideline value of Nachiyapuram?

The current guideline value of Nachiyapuram is Rs 330 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed since 2017?

Since 2017, the guideline value has increased from Rs 201 per sq.ft to Rs 330 per sq.ft in 2024, which is a total increase of 64% over the period.

What are the stamp duty rates for property in Nachiyapuram?

The stamp duty rate for property transactions in Nachiyapuram is 7%, while the registration fee is 2% of the guideline value or sale price, whichever is higher.

Which office handles property registrations in Nachiyapuram?

The Thiruvottiyur Sub Registrar Office handles property registrations in Nachiyapuram, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the median guideline value for streets in Athipattu?

The median guideline value for streets in Athipattu is Rs 330 per sq.ft, with values ranging from Rs 220 to Rs 462 per sq.ft in the 2024 revision.