Guideline Value for NASIC NAGAR PHASE-1

Nasic Nagar Phase-1 guideline value

The current guideline value of Nasic Nagar Phase-1 is Rs 130 per sq.ft, effective from 1 July 2024. This area is located in Vengal village under the Arani_Tiruvallur SRO, classified as Residential Class V Type - I.

How the guideline value of Nasic Nagar Phase-1 has changed

The guideline value for Nasic Nagar Phase-1 has seen revisions over the years. The 2017 revision recorded a value of Rs 87 per sq.ft. Following this, the 2023 revision maintained the same value of Rs 130 per sq.ft, and the current 2024 revision has also set the value at Rs 130 per sq.ft. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From the 2017 revision to the 2023 revision, there was a significant increase of 49%. The overall change from the 2017 revision to the 2024 revision also reflects a 49% increase, indicating a consistent valuation since 2023.

Guideline values in Vengal

In Vengal, there are 9 streets under the Arani_Tiruvallur SRO that have a 2024 guideline value ranging from Rs 130 to Rs 281 per sq.ft. The median value for these streets is Rs 171 per sq.ft, positioning Nasic Nagar Phase-1's 2024 guideline value below this median.

• Lakshmi Nagar Phase-1: Rs 130 per sq.ft (2024)
• R.R.B. Nagar: Rs 171 per sq.ft (2024)
• James Garden: Rs 241 per sq.ft (2024)
• Sri Nagathamman Nagar: Rs 281 per sq.ft (2024)
• Sri Navasakthi Nagar: Rs 171 per sq.ft (2024)
• Sri Sai Sanjay Nagar: Rs 130 per sq.ft (2024)

Stamp duty and registration fee for property in Nasic Nagar Phase-1

For a 1,000 sq.ft plot at the current guideline value of Rs 130 per sq.ft, the total guideline value amounts to Rs 1,30,000. The stamp duty at 7% would be Rs 9,100, and the registration fee at 2% would be Rs 2,600, bringing the total fees to Rs 11,700. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nasic Nagar Phase-1?

The Sub Registrar Office that covers Nasic Nagar Phase-1 is the Arani_Tiruvallur Sub Registrar Office, located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101. You can find your SRO for additional information.

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

The guideline value is a crucial factor during property transactions in Vengal, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with registration requirements.

When registering a property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that all transactions are recorded accurately and reflect the current market standards set by the Registration Department.

Frequently asked questions

What is the current guideline value for Nasic Nagar Phase-1?

The current guideline value for Nasic Nagar Phase-1 is Rs 130 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 87 per sq.ft in 2017 to Rs 130 per sq.ft in both 2023 and 2024, marking a 49% increase overall since 2017.

What is the land classification of Nasic Nagar Phase-1?

Nasic Nagar Phase-1 is classified as Residential Class V Type - I, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Nasic Nagar Phase-1?

The Sub Registrar Office for Nasic Nagar Phase-1 is located at No.10, S.p Kovil Street, Arani, Ponneri (tk), Thiruvallur (dt) - 601 101.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 130 per sq.ft incurs a total guideline value of Rs 1,30,000.