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Guideline Value

Corporate

Guideline Value for NESAMMAL NAGAR 2nd Street

₹2200/sq.ft.

The guideline value for Nesammal Nagar 2nd Street in Nerkundram village (Virugambakkam SRO, Chennai zone) is Rs 2200 per sq.ft, effective 1 July 2024. It was Rs 2000 per sq.ft from 1 April 2023, a 10% change. The land classification is Residential Class Iv Type - I. Source: TNReginet guideline value register.

Last updated:

Chennai

Zone

Nerkundram

Village

Virugambakkam

SRO

Residential Class IV Type - I
History
Period Guideline Value
From 1-7-2024 ₹2200 /sq.ft.
From 1-4-2023 ₹2000 /sq.ft.
From 9-6-2017 To 31-3-2023 ₹1340 /sq.ft.
From 1-4-2012 To 8-6-2017 ₹2000 /sq.ft.
From 1-8-2007 To 31-3-2012 ₹350 /sq.ft.
From 1-4-2003 To 31-7-2007 ₹250 /sq.ft.
From 1-4-2002 To 31-3-2003 ₹121 /sq.ft.
Guideline Value Timeline
Guideline Value Comparison

SRO (Sub Registrar Office)

No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037
044-23641794
[email protected]

DRO (District Registrar Office)

Integrated Building For Offices Of The Commercial Taxes And Registration Department, Fanepet, Nandhanam, Chennai - 35.
044-22505552
[email protected], [email protected]

DIG (Deputy Inspector General)

Integrated Building For Offices Of The Commercial Taxes And Registration, Department Fanepet, Nandanam, Chennai - 600 035.
044-29510527
[email protected]
Records for a plot on Nesammal Nagar 2nd Street

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NESAMMAL NAGAR 2nd Street guideline value

The current guideline value of NESAMMAL NAGAR 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village, under the jurisdiction of the Virugambakkam SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of NESAMMAL NAGAR 2nd Street has changed

The guideline value for NESAMMAL NAGAR 2nd Street has seen several revisions over the years. In 2002, the value was Rs 121 per sq.ft, which increased to Rs 250 per sq.ft in 2003. By 2007, the value had risen significantly to Rs 350 per sq.ft. The 2012 revision saw a drop to Rs 2,000 per sq.ft, but it rebounded to Rs 1,340 per sq.ft in 2017. The most recent revisions show an increase to Rs 2,000 per sq.ft in 2023, followed by the current rate of Rs 2,200 per sq.ft in 2024.

In terms of percentage changes, from 2002 to 2024, the overall increase has been +1718%. Notably, the increase from 2023 to 2024 is +10%, while the jump from 2017 to 2023 was +49%. The 2012 to 2017 period saw a decrease of -33%, and the 2007 to 2012 period had a remarkable increase of +471%.

Guideline values in Nerkundram

Nerkundram village has a total of 476 streets under the Virugambakkam SRO, with guideline values for 2024 ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value of NESAMMAL NAGAR 2nd Street.

Stamp duty and registration fee for property in NESAMMAL NAGAR 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000. Together, the total cost for these fees would be Rs 1,98,000. It is important to 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 NESAMMAL NAGAR 2nd Street?

The Sub Registrar Office that covers NESAMMAL NAGAR 2nd Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for further assistance.

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

The guideline value is a critical factor in property transactions in Nerkundram. It is used to determine the stamp duty and registration fees during the buying or selling process. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate the associated costs accurately.

When a property is registered, the guideline value serves as a benchmark for the transaction. This means that regardless of the sale price, the guideline value will be used to assess the applicable duties and fees, ensuring that all transactions are recorded fairly and transparently.

Frequently asked questions

What is the current guideline value of NESAMMAL NAGAR 2nd Street?

The current guideline value of NESAMMAL NAGAR 2nd Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has undergone several revisions, increasing from Rs 121 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024. The most notable increases occurred between 2007 and 2012, and from 2023 to 2024.

What is the land classification for NESAMMAL NAGAR 2nd Street?

The land classification for NESAMMAL NAGAR 2nd Street is Residential Class IV Type - I, indicating its suitability for residential purposes.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000 and the registration fee is Rs 44,000, totaling Rs 1,98,000. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles property registrations in Nerkundram?

The Virugambakkam Sub Registrar Office handles property registrations in Nerkundram. It is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.