Guideline Value for NILA NAGAR PART -1

Nila Nagar Part -1 guideline value

The current guideline value of Nila Nagar Part -1 is Rs 105 per sq.ft, effective from 1 July 2024. This area is located in Kilakadi village and falls under the Salavakkam SRO. The land classification for this street is Residential Special Type - II.

How the guideline value of Nila Nagar Part -1 has changed

The guideline value for Nila Nagar Part -1 has seen several revisions over the years. In 2012, the guideline value was Rs 100 per sq.ft, which then decreased to Rs 67 per sq.ft in 2017. Following this, the value increased significantly to Rs 100 per sq.ft in 2023, and currently stands at Rs 105 per sq.ft from the 2024 revision. The register has no figure for this street for the years 2002, 2003, and 2007.

From 2012 to 2017, the value decreased by 33%, while from 2017 to 2023, it increased by 49%. The overall change from 2012 to 2024 reflects a modest increase of 5%.

Guideline values in Kilakadi

In Kilakadi, there are 21 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 433 per sq.ft. The median value for these streets is Rs 150 per sq.ft, indicating that Nila Nagar Part -1's 2024 figure is below this median.

• Nila Nagar: Rs 101 per sq.ft (2024)
• Mullai Nagar Extension: Rs 101 per sq.ft (2024)
• Mullai Nagar: Rs 101 per sq.ft (2024)
• Marudham Nagar Extension: Rs 101 per sq.ft (2024)
• Marudham Nagar: Rs 101 per sq.ft (2024)
• Mari Amman Kovil Street: Rs 100 per sq.ft (2024)

Stamp duty and registration fee for property in Nila Nagar Part -1

For a 1,000 sq.ft plot at the current rate of Rs 105 per sq.ft, the guideline value amounts to Rs 1,05,000. The stamp duty at 7% would be Rs 7,350, and the registration fee at 2% would be Rs 2,100, making the total cost for these fees Rs 9,450. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nila Nagar Part -1?

The Sub Registrar Office that covers Nila Nagar Part -1 is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for additional information.

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

The guideline value is a crucial reference point when buying or selling property in Kilakadi. It helps in determining the stamp duty and registration fees that need to be paid during the transaction process.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that both the buyer and seller are aware of the costs involved. This process helps maintain transparency in property transactions.

Frequently asked questions

What is the current guideline value of Nila Nagar Part -1?

The current guideline value of Nila Nagar Part -1 is Rs 105 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and finally to Rs 105 per sq.ft in 2024.

What is the median guideline value for streets in Kilakadi?

The median guideline value for the 21 streets in Kilakadi under the Salavakkam SRO is Rs 150 per sq.ft, with Nila Nagar Part -1's current value being below this median.

What are the stamp duty and registration fees for a property in Nila Nagar Part -1?

For a property valued at Rs 1,05,000, the stamp duty would be Rs 7,350, and the registration fee would be Rs 2,100, totaling Rs 9,450.

Where is the Sub Registrar Office for Nila Nagar Part -1 located?

The Sub Registrar Office for Nila Nagar Part -1 is the Salavakkam Sub Registrar Office, located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.