Guideline Value for NIRMAL NAGAR (PER)

Nirmal Nagar (Per) guideline value

The current guideline value of Nirmal Nagar (Per) is Rs 440 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village and falls under the Chengleput Joint II SRO, classified as Residential Class II Type - II.

How the guideline value of Nirmal Nagar (Per) has changed

The guideline value for Nirmal Nagar (Per) has undergone several revisions over the years. In 2012, the guideline value was set at Rs 400 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 268 per sq.ft. In 2023, the value increased to Rs 400 per sq.ft, and the latest revision in 2024 has raised it further to Rs 440 per sq.ft. The register has no figures for the years 2002, 2003, and 2007.

Between the revisions, notable changes include a 33% decrease from 2012 to 2017, followed by a significant 49% increase from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Nirmal Nagar (Per) below this median.

• Nishanth Avenue: Rs 1,321 per sq.ft (2024)
• Nh2 Extension (Ward -7): Rs 1,321 per sq.ft (2024)
• Nvignesh Nagar Ninnaikarai (Ward -19): Rs 660 per sq.ft (2024)
• New Balaji Nagar Barathiar Street (Ward -3): Rs 990 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 Nirmal Nagar (Per)

For a 1,000 sq.ft plot at the current guideline value of Rs 440 per sq.ft, the total guideline value amounts to Rs 4,40,000. The stamp duty is calculated at 7%, resulting in Rs 30,800, while the registration fee at 2% is Rs 8,800. Together, the total cost for stamp duty and registration fee is Rs 39,600. Duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nirmal Nagar (Per)?

The Sub Registrar Office that covers Nirmal Nagar (Per) is 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 information.

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 of property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps in assessing the fair value of the property. It is important for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nirmal Nagar (Per)?

The current guideline value of Nirmal Nagar (Per) is Rs 440 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then back to Rs 400 per sq.ft in 2023, and finally to Rs 440 per sq.ft in 2024.

What is the median guideline value in Ninna Karai?

The median guideline value in Ninna Karai is Rs 1,100 per sq.ft, which is higher than the current value of Nirmal Nagar (Per).

What are the stamp duty and registration fees for property in Nirmal Nagar (Per)?

For a property valued at Rs 4,40,000, the stamp duty is Rs 30,800 and the registration fee is Rs 8,800, totaling Rs 39,600.

Where can I find the Sub Registrar Office for Nirmal Nagar (Per)?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. You can find more information by visiting the relevant link.