Guideline Value for NAGARAJAN GARDEN

Nagarajan Garden guideline value

The current guideline value of Nagarajan Garden, located in Chemmancheri village under the Neelankarai SRO, is Rs 1,700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class IV Type - I.

How the guideline value of Nagarajan Garden has changed

The guideline value for Nagarajan Garden has seen several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which was then reduced to Rs 1,005 per sq.ft in the 2017 revision. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, followed by a further increase to Rs 1,700 per sq.ft in the 2024 revision, marking a 13% rise from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 13%. The revisions for the years 2002, 2003, and 2007 have no figures recorded for this street.

Guideline values in Chemmancheri

In Chemmancheri, there are 195 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value is Rs 1,700 per sq.ft, which aligns with the current guideline value of Nagarajan Garden.

• Nagaiah Salai @ Myana Salai: Rs 1,700 per sq.ft (2024)
• Myana Salai: Rs 1,100 per sq.ft (2024)
• Nandagopal Garden: Rs 1,100 per sq.ft (2024)
• Nasin Ghoose Garden: Rs 3,300 per sq.ft (2024)
• Nazimunnissa Garden: Rs 1,700 per sq.ft (2024)
• Munsif Sundaram Avenue: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nagarajan Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value would be Rs 17,00,000. The stamp duty, charged at 7%, would amount to Rs 1,19,000, while the registration fee at 2% would be Rs 34,000. Together, the total cost for these fees would be Rs 1,53,000. It is important to note that 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 Nagarajan Garden?

Nagarajan Garden falls under 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 Chemmancheri

The guideline value is a crucial factor during property transactions in Chemmancheri. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when registering a property sale or purchase.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that both buyers and sellers are aware of the financial obligations involved in the transaction. This helps maintain transparency and consistency in property dealings.

Frequently asked questions

What is the current guideline value of Nagarajan Garden?

The current guideline value of Nagarajan Garden 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 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification of Nagarajan Garden?

Nagarajan Garden is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for a property in Nagarajan Garden?

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.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.