Guideline Value for NAZIMUNNISSA GARDEN

Nazimunnissa Garden guideline value

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

How the guideline value of Nazimunnissa Garden has changed

The guideline value for Nazimunnissa Garden has undergone 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 2017. Following this, the value increased significantly to Rs 1,500 per sq.ft in 2023, and currently stands at Rs 1,700 per sq.ft from the 2024 revision, marking a 13% increase from the previous year.

In summary, from 2012 to 2024, the overall change in the guideline value is an increase of 13%. Notably, there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Chemmancheri

In Chemmancheri village, there are 195 streets under the Neelankarai SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 6,600 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, which is equal to the current guideline value for Nazimunnissa Garden.

• Nedunchezhian Road: Rs 2,800 per sq.ft (2024)
• Nedunzhian Street: Rs 2,800 per sq.ft (2024)
• Nehru Nagar: Rs 3,300 per sq.ft (2024)
• Nasin Ghoose Garden: Rs 3,300 per sq.ft (2024)
• Nehru Street: Rs 3,300 per sq.ft (2024)
• Nandagopal Garden: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nazimunnissa Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value is Rs 17,00,000. The stamp duty at 7% would amount to Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, bringing the total fees together to Rs 1,53,000. Please note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nazimunnissa Garden?

Nazimunnissa 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. To find your SRO, you can visit find your SRO.

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

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

When a property is registered, the guideline value is considered to ensure that the appropriate fees are collected based on the value of the property. This helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of Nazimunnissa Garden?

The current guideline value of Nazimunnissa 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 rose to Rs 1,500 per sq.ft in 2023, and is now Rs 1,700 per sq.ft in 2024.

What is the median guideline value in Chemmancheri?

The median guideline value for streets in Chemmancheri is Rs 1,700 per sq.ft, which is the same as the current value for Nazimunnissa Garden.

What are the fees for registering property in Nazimunnissa Garden?

For a property valued at Rs 17,00,000, the stamp duty is Rs 1,19,000, and the registration fee is Rs 34,000, totaling Rs 1,53,000.

Which office handles property registrations for Nazimunnissa Garden?

The Neelankarai Sub Registrar Office handles property registrations for Nazimunnissa Garden, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.