Guideline Value for NCL Nagar 1st Street

NCL Nagar 1st Street guideline value

The current guideline value of NCL Nagar 1st Street is Rs 1,900 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village and falls under the Madhavaram SRO. The land classification for this area is Residential Class III Type - I.

How the guideline value of NCL Nagar 1st Street has changed

Over the years, the guideline value of NCL Nagar 1st Street has seen several revisions. The figures are as follows: in 2012, the guideline value was Rs 1,500 per sq.ft, which decreased to Rs 1,206 per sq.ft in 2017. This was a decline of 20%. However, from 2017 to 2023, the value increased significantly to Rs 1,800 per sq.ft, marking a 49% rise. The most recent revision in 2024 has set the guideline value at Rs 1,900 per sq.ft, reflecting a 6% increase from the previous year.

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, from 2012 to 2024, the guideline value has increased by 27%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. NCL Nagar 1st Street's 2024 figure is below this median.

• NCL Nagar: Rs 1,900 per sq.ft (2024)
• NCL Nagar 2nd Street: Rs 1,900 per sq.ft (2024)
• Nasreen Street: Rs 2,700 per sq.ft (2024)
• Nehru Street: Rs 1,900 per sq.ft (2024)
• Narayanasamy Garden 9th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 8th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in NCL Nagar 1st Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value amounts to Rs 19,00,000. The stamp duty at 7% would be Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total charges to Rs 1,71,000. Please note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers NCL Nagar 1st Street?

The Sub Registrar Office that covers NCL Nagar 1st Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Selavoyal. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall transaction costs. Buyers should ensure that the sale price is not lower than the guideline value to avoid potential legal issues during registration.

Frequently asked questions

What is the current guideline value of NCL Nagar 1st Street?

The current guideline value of NCL Nagar 1st Street is Rs 1,900 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 1,900 per sq.ft in 2024, with significant changes in between, including a decrease in 2017 followed by increases in subsequent years.

What is the median guideline value for streets in Selavoyal?

The median guideline value for streets in Selavoyal is Rs 2,200 per sq.ft, with NCL Nagar 1st Street's 2024 figure being below this median.

What are the stamp duty and registration fees for property in NCL Nagar 1st Street?

For a property valued at Rs 19,00,000, the stamp duty would be Rs 1,33,000 and the registration fee would be Rs 38,000, totaling Rs 1,71,000.

Which office handles property registrations for NCL Nagar 1st Street?

The Madhavaram Sub Registrar Office handles property registrations for NCL Nagar 1st Street, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.