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 Panangottur village, under the Chengleput Joint II SRO, and is 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 experienced several revisions over the years. In 2012, the guideline value was Rs 400 per sq.ft, which then decreased to Rs 268 per sq.ft in 2017. Following this, there was a significant increase to Rs 400 per sq.ft in 2023, and currently, it stands at Rs 440 per sq.ft as of the 2024 revision. The register has no figures for this street in the years 2002, 2003, and 2007.

From the 2012 revision to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, placing Nirmal Nagar (Per) below this median.

• Nh2 Extension (Ward -7): Rs 1,320 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 1,320 per sq.ft (2024)
• Om Sakthi Street (Per): Rs 660 per sq.ft (2024)
• Om Sakthi Street (Ward -15): Rs 440 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 at 7% would be Rs 30,800, and the registration fee at 2% would be Rs 8,800, totaling Rs 39,600. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nirmal Nagar (Per)?

Nirmal Nagar (Per) falls under the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role during the registration of property transactions in Panangottur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When buying or selling a property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transfer of property ownership. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price.

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?

The guideline value has changed from Rs 400 per sq.ft in 2012 to Rs 268 per sq.ft in 2017, then increased to Rs 400 per sq.ft in 2023, and currently stands at Rs 440 per sq.ft as of 2024.

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 would be Rs 30,800, and the registration fee would be Rs 8,800, totaling Rs 39,600.

Which Sub Registrar Office covers Nirmal Nagar (Per)?

Nirmal Nagar (Per) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the significance of the guideline value in property transactions?

The guideline value is essential for determining the minimum registration value of a property, which affects the calculation of stamp duty and registration fees during property transactions.