Guideline Value for NISHA NAGAR

Nisha Nagar guideline value

The current guideline value of Nisha Nagar, located in Athur B Block village under the Chengleput Joint II SRO, is Rs 700 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Nisha Nagar has changed

The guideline value for Nisha Nagar has seen several revisions over the years. In 2007, the value was Rs 150 per sq.ft, which increased significantly to Rs 700 per sq.ft in 2012. However, it dropped to Rs 469 per sq.ft in 2017 before stabilizing at Rs 700 per sq.ft in both the 2023 and 2024 revisions. Notably, there are no figures available for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, while the change from 2012 to 2017 was a decrease of 33%. The most significant increase occurred from 2007 to 2012, which saw a rise of 367%. Overall, from 2007 to 2024, the guideline value has increased by 367%.

Guideline values in Athur B Block

Athur B Block under the Chengleput Joint II SRO has a range of guideline values for its 79 streets, with figures ranging from Rs 268 to Rs 1,525 per sq.ft. The median guideline value is Rs 700 per sq.ft, which aligns with the current value of Nisha Nagar.

• Palar Nagar: Rs 800 per sq.ft (2024)
• Mullai Nagar: Rs 800 per sq.ft (2024)
• Mountain View: Rs 500 per sq.ft (2024)
• M.N. Nagar: Rs 500 per sq.ft (2024)
• Priya Nagar: Rs 800 per sq.ft (2024)
• Priya Nagar Exten: Rs 800 per sq.ft (2024)

Stamp duty and registration fee for property in Nisha Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, bringing the total to Rs 63,000. It is important to note that the 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 further calculations.

Which Sub Registrar Office covers Nisha Nagar?

Nisha Nagar is covered by 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 Athur B Block

The guideline value is a crucial factor when registering property transactions in Athur B Block. It serves as the basis for calculating stamp duty and registration fees, ensuring that both buyers and sellers are aware of the legal and financial implications of their transactions.

When a property is bought or sold, the guideline value helps determine the official value of the property for registration purposes. This ensures transparency and compliance with local regulations during the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Nisha Nagar?

The current guideline value of Nisha Nagar is Rs 700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 150 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then decreased to Rs 469 per sq.ft in 2017, and has remained at Rs 700 per sq.ft in 2023 and 2024.

What is the land classification of Nisha Nagar?

Nisha Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, a 1,000 sq.ft plot would incur a total of Rs 63,000 in fees based on the current guideline value.