Guideline Value for NAZIR KAGANI GARDEN

Nazir Kagani Garden guideline value

The current guideline value of Nazir Kagani Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Karapakkam village and falls under the Neelankarai SRO. The land classification is Residential Class III Type - I.

How the guideline value of Nazir Kagani Garden has changed

The guideline value for Nazir Kagani Garden has seen several revisions over the years. In 2012, the value was set at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft from the 2024 revision.

From 2017 to 2023, there was a notable increase of 49%. The recent change from 2023 to 2024 reflects a 10% rise. It is important to note that there are no figures available for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that have a 2024 guideline value ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, placing Nazir Kagani Garden's 2024 figure below this median.

• Natesan Street (Near Omr): Rs 2,200 per sq.ft (2024)
• Natesan Street: Rs 2,200 per sq.ft (2024)
• Natesan Avenue: Rs 2,200 per sq.ft (2024)
• Narayanaswamy Street: Rs 1,700 per sq.ft (2024)
• Nehru Street: Rs 2,200 per sq.ft (2024)
• Nannooh Brothers Garden: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nazir Kagani Garden

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nazir Kagani Garden?

The Nazir Kagani Garden area is covered by 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 Karapakkam

The guideline value is an essential factor in the registration process when buying or selling property in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the guideline value is used to calculate the applicable fees, ensuring that the government receives the correct revenue from property transactions. Buyers and sellers should be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nazir Kagani Garden?

The current guideline value of Nazir Kagani Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and currently stands at Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Karapakkam?

The median guideline value for streets in Karapakkam is Rs 1,700 per sq.ft, which is above the current value of Nazir Kagani Garden.

What are the stamp duty and registration fees for property in Nazir Kagani Garden?

For a 1,000 sq.ft property at Rs 1,100 per sq.ft, the total guideline value is Rs 11,00,000. The stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

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.