Guideline Value for NRI NEST

Nri Nest guideline value

The current guideline value of Nri Nest is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Korattur-B village, under the Avadi SRO, and is classified as Commercial Special Type - II.

How the guideline value of Nri Nest has changed

The guideline value register does not provide figures for Nri Nest for the years 2002, 2003, 2007, 2012, 2017, and 2023. The most recent revision is for 2024, which sets the guideline value at Rs 1,100 per sq.ft.

There have been no changes between the revisions available for this street. Therefore, the 2024 figure of Rs 1,100 per sq.ft is the only value available for Nri Nest.

Guideline values in Korattur-B

In Korattur-B, there are 11 streets under the Avadi SRO that carry a 2024 guideline value, ranging from Rs 165 to Rs 2,000 per sq.ft. The median guideline value for these streets is Rs 1,000 per sq.ft, placing Nri Nest's 2024 figure above that median.

• Meenachi Nagar: Rs 990 per sq.ft (2024)
• Srinivasa Nagar: Rs 165 per sq.ft (2024)
• Vasantham Nagar Phase-I: Rs 825 per sq.ft (2024)
• Balaji Nagar: Rs 550 per sq.ft (2024)
• Ashok Nandhavanam Phase-III: Rs 1,100 per sq.ft (2024)
• Ashok Nandavanam: Rs 1,485 per sq.ft (2024)

Stamp duty and registration fee for property in Nri Nest

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nri Nest?

The Nri Nest property falls under the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai 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 Korattur-B

The guideline value plays a crucial role in the registration process of property transactions in Korattur-B. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transfer of property ownership.

When buying or selling property, the guideline value is used to ensure that the transaction is recorded accurately and that the appropriate fees are collected. Buyers should be aware that the duty is charged based on the higher of the guideline value or the sale price, which ensures compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nri Nest?

The current guideline value of Nri Nest is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value register does not provide figures for Nri Nest for the years 2002, 2003, 2007, 2012, 2017, and 2023. The only available figure is from the 2024 revision, which is Rs 1,100 per sq.ft.

What are the guideline values of other streets in Korattur-B?

In Korattur-B, other streets have varying guideline values ranging from Rs 165 to Rs 2,000 per sq.ft. The median value is Rs 1,000 per sq.ft, while Nri Nest's value is above this median.

What fees are associated with buying property in Nri Nest?

When buying property in Nri Nest, buyers should expect to pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nri Nest?

The Sub Registrar Office covering Nri Nest is the Avadi Sub Registrar Office, located at Plot No.145, Vii Street, Modern City, Thandurai Village, Avadi Taluk, Tiruvallur District, Chennai registration zone.