Guideline Value for NH2 EXTENSION (WARD -7)

Nh2 Extension (Ward -7) guideline value

The current guideline value for Nh2 Extension (Ward -7) in Ninna Karai village is Rs 1,321 per sq.ft, effective from 1 July 2024. This area falls under the Chengleput Joint II SRO and is classified as Residential Special Type - V.

How the guideline value of Nh2 Extension (Ward -7) has changed

The guideline value for Nh2 Extension has undergone several revisions over the years. In 2012, the value was set at Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, and the most recent revision in 2024 has raised it further to Rs 1,321 per sq.ft.

Looking at the changes, there was a decrease of 33% from 2012 to 2017. Following that, the value saw a substantial increase of 49% from 2017 to 2023. The overall change from 2012 to 2024 shows an increase of 10% in the guideline value.

Guideline values in Ninna Karai

Ninna Karai village has 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft as of 2024. The median guideline value is Rs 1,100 per sq.ft, placing Nh2 Extension above this median.

• Nirmal Nagar (Per): Rs 440 per sq.ft (2024)
• Nishanth Avenue: Rs 1,321 per sq.ft (2024)
• New Balaji Nagar Barathiar Street (Ward -3): Rs 990 per sq.ft (2024)
• Nvignesh Nagar Ninnaikarai (Ward -19): Rs 660 per sq.ft (2024)
• Nethaji Street (Ward -8): Rs 1,321 per sq.ft (2024)
• Om Sakthi Street (Per): Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Nh2 Extension (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value comes to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, while the registration fee at 2% would amount to Rs 26,420. Together, the total fees would be Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Nh2 Extension (Ward -7)?

Nh2 Extension (Ward -7) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Ninna Karai. It helps determine the stamp duty and registration fees applicable to the transaction. Buyers should be aware that the guideline value may differ from the actual sale price, and the higher of the two will be used for calculating duties.

When a property is registered, the guideline value ensures that the transaction is documented at a fair value as determined by the local authorities. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value for Nh2 Extension (Ward -7)?

The current guideline value for Nh2 Extension (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the classification of land in Nh2 Extension (Ward -7)?

The land in Nh2 Extension (Ward -7) is classified as Residential Special Type - V. This classification is important for determining the applicable guidelines and regulations.

What are the stamp duty and registration fees for properties in Nh2 Extension (Ward -7)?

For a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 and the registration fee would be Rs 26,420, totaling Rs 1,18,890. These fees are based on the guideline value.

Where can I find the Sub Registrar Office for Nh2 Extension (Ward -7)?

The Chengleput Joint II Sub Registrar Office covers Nh2 Extension (Ward -7) and is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more details through the provided link.