Guideline Value for NIRMAL NAGAR

Nirmal Nagar guideline value

The current guideline value of Nirmal Nagar, located in Eagattur village under the Manavalanagar SRO, is Rs 190 per sq.ft. This value is effective from the 2024 revision, which will be implemented on 1 July 2024. The land classification for this area is Residential Class I Type - II.

How the guideline value of Nirmal Nagar has changed

In the 2023 revision, the guideline value for Nirmal Nagar was Rs 190 per sq.ft. The 2024 revision also lists the guideline value at Rs 190 per sq.ft, indicating no change between these two revisions. The register has no figure for Nirmal Nagar for the years 2017, 2012, 2007, 2003, and 2002.

Since there are no figures available for the earlier revisions, it is clear that the guideline value has remained consistent at Rs 190 per sq.ft from 2023 to 2024, reflecting stability in this segment.

Guideline values in Eagattur

Eagattur village has a total of 31 streets under the Manavalanagar SRO, with the 2024 guideline values ranging from Rs 100 to Rs 330 per sq.ft. The median value for these streets is Rs 190 per sq.ft, which aligns with the guideline value for Nirmal Nagar.

• New Kamaraj Nagar: Rs 200 per sq.ft (2024)
• Om Sakthi Nagar: Rs 154 per sq.ft (2024)
• Palani Nagar: Rs 190 per sq.ft (2024)
• Palayam Nagar: Rs 154 per sq.ft (2024)
• Meenakshi Nagar: Rs 200 per sq.ft (2024)
• Sree Kamatchi Nagar: Rs 170 per sq.ft (2024)

Stamp duty and registration fee for property in Nirmal Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 190 per sq.ft, the total guideline value would be Rs 1,90,000. The stamp duty, charged at 7%, would amount to Rs 13,300, while the registration fee at 2% would be Rs 3,800, bringing the total cost for these fees to Rs 17,100. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nirmal Nagar?

The Sub Registrar Office that covers Nirmal Nagar is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Eagattur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that these costs are based on the official valuation of the property.

When a property is sold, the guideline value is considered alongside the sale price, with the higher amount being used to determine the applicable fees. This ensures that the registration process is fair and transparent, reflecting the true value of the property being transacted.

Frequently asked questions

What is the current guideline value of Nirmal Nagar?

The current guideline value of Nirmal Nagar is Rs 190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nirmal Nagar has remained at Rs 190 per sq.ft for the revisions in 2023 and 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the registration fee for property in Nirmal Nagar?

The registration fee for property in Nirmal Nagar is calculated based on the guideline value. For a plot valued at Rs 1,90,000, the registration fee would be Rs 3,800 at a rate of 2%.

Where is the Sub Registrar Office for Nirmal Nagar located?

The Sub Registrar Office for Nirmal Nagar is located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated at a rate of 7% on the higher of the guideline value or the sale price. This ensures that the fees reflect the true value of the property being registered.