Guideline Value for NILA NAGAR

Nila Nagar guideline value

The current guideline value of Nila Nagar in Kilakadi village, under the Salavakkam SRO, is Rs 101 per sq.ft, effective from 1 July 2024. This area is classified as Residential Class I Type - II.

How the guideline value of Nila Nagar has changed

The guideline value for Nila Nagar has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 101 per sq.ft, an increase from Rs 100 per sq.ft in 2023, which represents a 1% rise. Prior to that, in 2017, the guideline value was Rs 67 per sq.ft, marking a significant increase of 49% over the six years leading up to 2023. In 2012, the value was Rs 100 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by just 1%, reflecting the fluctuations in the earlier years.

Guideline values in Kilakadi

In Kilakadi, there are 21 streets under the Salavakkam SRO that have 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, placing Nila Nagar's value below this median.

• Nila Nagar Part -1: Rs 105 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

For a 1,000 sq.ft plot at the current guideline value of Rs 101 per sq.ft, the total guideline value amounts to Rs 1,01,000. The stamp duty at 7% would be Rs 7,070, and the registration fee at 2% would be Rs 2,020, leading to a total of Rs 9,090. 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 Nila Nagar?

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

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

The guideline value is a crucial factor in the registration process for property transactions in Kilakadi. When a property is bought or sold, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in accordance with government regulations.

Frequently asked questions

What is the current guideline value of Nila Nagar?

The current guideline value of Nila Nagar is Rs 101 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 2023 to Rs 101 per sq.ft in 2024. It was Rs 67 per sq.ft in 2017 and Rs 100 per sq.ft in 2012.

What is the land classification of Nila Nagar?

Nila Nagar is classified as Residential Class I Type - II, indicating its use for residential purposes.

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

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

How is the stamp duty calculated for properties in Nila Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, on a property valued at Rs 1,01,000, the stamp duty would be Rs 7,070 at 7%.