Guideline Value for NANDHIYAM PAKKAM ROAD

Nandhiyam Pakkam Road guideline value

The current guideline value of Nandhiyam Pakkam Road is Rs 550 per sq.ft, effective from 1 July 2024. This road is located in Minjur village, under the Ponneri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Nandhiyam Pakkam Road has changed

In the 2017 revision, the guideline value was Rs 335 per sq.ft. This figure increased to Rs 500 per sq.ft in the 2023 revision, marking a significant change of 49%. The current guideline value of Rs 550 per sq.ft in the 2024 revision reflects a further increase of 10% from the previous year.

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

Guideline values in Minjur

In Minjur, there are 179 streets under the Ponneri SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,320 per sq.ft. The median value is Rs 550 per sq.ft, which aligns with the guideline value of Nandhiyam Pakkam Road.

• Narasimha Avenue(Phase I&ii): Rs 880 per sq.ft (2024)
• Nadu Theru: Rs 550 per sq.ft (2024)
• M.V.L.Nagar: Rs 880 per sq.ft (2024)
• Nehru Nagar: Rs 550 per sq.ft (2024)
• Murugan Avenue: Rs 550 per sq.ft (2024)
• Murali Nagar: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Nandhiyam Pakkam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value would be Rs 5,50,000. The stamp duty at 7% would amount to Rs 38,500, and the registration fee at 2% would be Rs 11,000, resulting in a total of Rs 49,500. It is essential to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nandhiyam Pakkam Road?

The Sub Registrar Office that covers Nandhiyam Pakkam Road is the Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Minjur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum value at which the property can be registered. This process helps maintain transparency in real estate transactions and ensures that properties are not undervalued during registration.

Frequently asked questions

What is the current guideline value of Nandhiyam Pakkam Road?

The current guideline value of Nandhiyam Pakkam Road is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 335 per sq.ft in 2017 to Rs 500 per sq.ft in 2023, and now to Rs 550 per sq.ft in 2024. Overall, this represents a 64% increase from 2017 to 2024.

What are the stamp duty and registration fees for properties on this road?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500, and the registration fee would be Rs 11,000, totaling Rs 49,500. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office is responsible for Nandhiyam Pakkam Road?

The Ponneri Sub Registrar Office is responsible for Nandhiyam Pakkam Road, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

What is the land classification of Nandhiyam Pakkam Road?

Nandhiyam Pakkam Road is classified as Residential Class II Type - I. This classification is important for determining the guideline value and other regulatory aspects of property transactions.