Guideline Value for NSC BOSE Nagar

NSC BOSE Nagar guideline value

The current guideline value of NSC BOSE Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of NSC BOSE Nagar has changed

The guideline value for NSC BOSE Nagar has been revised multiple times. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged through the 2023 revision. The 2024 revision increased the guideline value to Rs 1,300 per sq.ft, marking an 8% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2017 for this street. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,300 to Rs 7,500 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing NSC BOSE Nagar's 2024 figure below that median.

• NSC Boss Road (Ward-8): Rs 1,300 per sq.ft (2024)
• North Telephone Colony: Rs 1,600 per sq.ft (2024)
• N S K Nagar (Ward-20): Rs 2,200 per sq.ft (2024)
• NSS Nagar: Rs 1,600 per sq.ft (2024)
• Nithya Garden Extension: Rs 2,200 per sq.ft (2024)
• Ommakulam Medu: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in NSC BOSE Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,300 per sq.ft, the total guideline value amounts to Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, while the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers NSC BOSE Nagar?

The NSC BOSE Nagar area falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. To find your SRO, you can visit find your SRO.

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

The guideline value is an essential factor during property registration in Madhavaram. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees.

When buying or selling property, the guideline value serves as a reference point for both the buyer and seller. It ensures that the transaction is documented accurately in accordance with the local regulations.

Frequently asked questions

What is the current guideline value of NSC BOSE Nagar?

The current guideline value of NSC BOSE Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed in recent years?

The guideline value increased from Rs 1,200 per sq.ft in 2023 to Rs 1,300 per sq.ft in 2024, reflecting an 8% increase. There was no change from 2012 to 2023.

What is the land classification of NSC BOSE Nagar?

NSC BOSE Nagar is classified as Residential Class III Type - I, which indicates its designation for residential development.

What are the stamp duty and registration fees for property in NSC BOSE Nagar?

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000 and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations for NSC BOSE Nagar?

The Madhavaram Sub Registrar Office handles property registrations for NSC BOSE Nagar, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.