Guideline Value for NCL Nagar

NCL Nagar guideline value

The current guideline value of NCL Nagar, located in Selavoyal village under the Madhavaram SRO, is Rs 1,900 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class III Type - I.

How the guideline value of NCL Nagar has changed

The guideline value of NCL Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which decreased to Rs 1,206 per sq.ft in 2017. Following this, the value increased significantly to Rs 1,800 per sq.ft in 2023, and the latest revision for 2024 has raised it further to Rs 1,900 per sq.ft.

In terms of percentage changes, the guideline value saw a decrease of 20% from 2012 to 2017. However, it experienced a substantial increase of 49% from 2017 to 2023, followed by a 6% increase from 2023 to 2024. Overall, from 2012 to 2024, the guideline value has risen by 27%. The register has no figures for the years 2002, 2003, and 2007 for this street.

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's current guideline value is below this median.

• NCL Nagar 1st Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,900 per sq.ft, the total guideline value would be Rs 19,00,000. The stamp duty at 7% would amount to Rs 1,33,000, and the registration fee at 2% would be Rs 38,000, bringing the total to Rs 1,71,000. 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 NCL Nagar?

The NCL Nagar area falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Selavoyal. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid at the time of registration.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall cost of the transaction. Ensuring that the property is registered at the correct guideline value helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of NCL Nagar?

The current guideline value of NCL Nagar 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 1,206 per sq.ft in 2017, then increased to Rs 1,800 per sq.ft in 2023, and is now Rs 1,900 per sq.ft in 2024.

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

Other streets in Selavoyal include NCL Nagar 1st Street and 2nd Street at Rs 1,900 per sq.ft, Nasreen Street at Rs 2,700 per sq.ft, Nehru Street at Rs 1,900 per sq.ft, and Narayanasamy Garden 8th and 9th Streets at Rs 2,200 per sq.ft.

What is the stamp duty rate in NCL Nagar?

The stamp duty rate in NCL Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Madhavaram Sub Registrar Office located?

The Madhavaram Sub Registrar Office is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.