Guideline Value for NANO VILLA

Nano Villa guideline value

The current guideline value of Nano Villa in Varadarajapuram village, under the Padappai SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - II.

How the guideline value of Nano Villa has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This value decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, representing a 49% rise, followed by another increase to Rs 1,650 per sq.ft in the 2024 revision, which is a 10% increase.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street. Overall, comparing the 2012 figure to the 2024 figure, there has been a 10% increase in the guideline value.

Guideline values in Varadarajapuram

In Varadarajapuram, there are 250 streets under the Padappai SRO, with guideline values ranging from Rs 880 to Rs 4,100 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of Nano Villa.

• Nannilam Nagar: Rs 990 per sq.ft (2024)
• Naduveerapattu - Tambaram Road: Rs 1,650 per sq.ft (2024)
• Mv Generation Mgr Nagar: Rs 3,370 per sq.ft (2024)
• Muthu Murugan Nagar: Rs 990 per sq.ft (2024)
• Mullai Nagarr: Rs 990 per sq.ft (2024)
• Mullai Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Nano Villa

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, making the total cost for these fees Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nano Villa?

The Sub Registrar Office that covers Nano Villa is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. For more details, you can find your SRO.

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

The guideline value is a crucial factor during the registration of property transactions in Varadarajapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a property is registered, the guideline value is considered to ensure that the transaction is in compliance with local regulations. Buyers and sellers must be aware of the guideline value to accurately calculate the costs associated with the registration process.

Frequently asked questions

What is the current guideline value of Nano Villa?

The current guideline value of Nano Villa is Rs 1,650 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 increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What are the other streets in Varadarajapuram with their guideline values?

Other streets in Varadarajapuram include Nannilam Nagar at Rs 990 per sq.ft, Naduveerapattu - Tambaram Road at Rs 1,650 per sq.ft, Mv Generation Mgr Nagar at Rs 3,370 per sq.ft, and Muthu Murugan Nagar, Mullai Nagarr, and Mullai Nagar all at Rs 990 per sq.ft.

What are the stamp duty and registration fees for properties in Nano Villa?

For a property in Nano Villa valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles the registration of properties in Nano Villa?

The Padappai Sub Registrar Office handles the registration of properties in Nano Villa, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.