Guideline Value for NESAMANI STREET

Nesamani Street guideline value

The current guideline value of Nesamani Street is Rs 1,960 per sq.ft, effective from 1 July 2024. This street is located in Nanmangalam village under the Pallavaram SRO, classified as Residential Class II Type - I.

How the guideline value of Nesamani Street has changed

The guideline value of Nesamani Street has seen several revisions over the years. In 2007, the value was set at Rs 300 per sq.ft, which increased significantly to Rs 1,800 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 1,206 per sq.ft. The subsequent revisions saw a substantial rise, with the value reaching Rs 1,800 per sq.ft in 2023 and then increasing to Rs 1,960 per sq.ft in 2024, marking a 9% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 553%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nanmangalam

Nanmangalam village has 139 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,960 to Rs 3,850 per sq.ft, with a median value of Rs 2,750 per sq.ft. The guideline value of Nesamani Street is below this median.

• Nehru Nagar Loganathan Street: Rs 1,960 per sq.ft (2024)
• Nehru Nagar: Rs 1,960 per sq.ft (2024)
• Naprat Nagar: Rs 1,960 per sq.ft (2024)
• Nandagopal Nagar: Rs 2,750 per sq.ft (2024)
• Muthiah Nagar: Rs 1,980 per sq.ft (2024)
• M.R.Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in Nesamani Street

For a 1,000 sq.ft plot at the current rate of Rs 1,960 per sq.ft, the guideline value amounts to Rs 19,60,000. The stamp duty at 7% would be Rs 1,37,200, and the registration fee at 2% would be Rs 39,200, totaling Rs 1,76,400. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nesamani Street?

The Sub Registrar Office covering Nesamani Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial aspect when buying or selling property in Nanmangalam, as it determines the stamp duty and registration fees applicable. Buyers must ensure that the sale price is not lower than the guideline value to avoid any legal complications during registration.

When registering a property, the guideline value serves as a benchmark for calculating the financial liabilities associated with the transaction. It is essential for both buyers and sellers to be aware of the current guideline value to facilitate a smooth registration process.

Frequently asked questions

What is the current guideline value of Nesamani Street?

The current guideline value of Nesamani Street is Rs 1,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 300 per sq.ft in 2007 to Rs 1,960 per sq.ft in 2024, marking an overall increase of 553% since then.

What are the other streets with the same guideline value in Nanmangalam?

Other streets in Nanmangalam with the same guideline value of Rs 1,960 per sq.ft in 2024 include Nehru Nagar Loganathan Street, Nehru Nagar, and Naprat Nagar.

What are the stamp duty and registration fees for a property in Nesamani Street?

For a 1,000 sq.ft property at the guideline value of Rs 1,960 per sq.ft, the total stamp duty and registration fees would amount to Rs 1,76,400, calculated based on the guideline value.

Where is the Sub Registrar Office for Nesamani Street located?

The Sub Registrar Office for Nesamani Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.