Guideline Value for NEMICHAND NAGAR

Nemichand Nagar guideline value

The current guideline value of Nemichand Nagar is Rs 120 per sq.ft, effective from the 2024 revision. This area is located in Eesoor village under the Madurandakam SRO, classified as Residential Special Type - I.

How the guideline value of Nemichand Nagar has changed

Over the years, the guideline value of Nemichand Nagar has seen several revisions. The 2012 revision set the value at Rs 120 per sq.ft, which remained unchanged until the 2023 revision, also at Rs 120 per sq.ft. The 2017 revision marked a decrease to Rs 80 per sq.ft, representing a 33% drop from the previous figure. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2017 to 2023, there was a significant increase of 50%, bringing the value back to Rs 120 per sq.ft. The current 2024 revision maintains this rate, showing no change from the previous year. Overall, from 2012 to 2024, the guideline value has remained constant at Rs 120 per sq.ft.

Guideline values in Eesoor

In Eesoor village, five streets under the Madurandakam SRO have a 2024 guideline value ranging from Rs 120 to Rs 250 per sq.ft, with a median value of Rs 175 per sq.ft. The guideline value of Nemichand Nagar is below this median.

• Om Sakthi Nagar: Rs 120 per sq.ft (2024)
• Sakthi Avenue: Rs 175 per sq.ft (2024)
• Green Wood Avenue: Rs 175 per sq.ft (2024)
• Sri Sathyasai Nagar: Rs 250 per sq.ft (2024)

Stamp duty and registration fee for property in Nemichand Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value is Rs 1,20,000. The stamp duty at 7% would be Rs 8,400, and the registration fee at 2% would be Rs 2,400, totaling Rs 10,800. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nemichand Nagar?

The Sub Registrar Office covering Nemichand Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Eesoor. It determines the minimum value on which stamp duty and registration fees are calculated, ensuring compliance with local regulations.

When you buy or sell property in Eesoor, the guideline value helps establish a baseline for the transaction price. This ensures that both parties are aware of the minimum financial obligations regarding taxes and fees during the registration process.

Frequently asked questions

What is the current guideline value of Nemichand Nagar?

The current guideline value of Nemichand Nagar is Rs 120 per sq.ft, effective from the 2024 revision.

How has the guideline value changed over the years?

The guideline value has remained at Rs 120 per sq.ft since 2012, with a drop to Rs 80 per sq.ft in 2017 before returning to Rs 120 per sq.ft in 2023 and 2024.

What are the other streets in Eesoor and their guideline values?

Other streets in Eesoor include Om Sakthi Nagar at Rs 120 per sq.ft, Sakthi Avenue and Green Wood Avenue at Rs 175 per sq.ft, and Sri Sathyasai Nagar at Rs 250 per sq.ft, all for 2024.

What is the registration fee for property in Nemichand Nagar?

The registration fee is calculated based on the guideline value or the sale price, whichever is higher. For a property valued at Rs 1,20,000, the registration fee would be Rs 2,400.

Where can I find the Sub Registrar Office for Nemichand Nagar?

The Madurandakam Sub Registrar Office covers Nemichand Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.