Guideline Value for NSC Boss Road (Ward-8)

NSC Boss Road (Ward-8) guideline value

The current guideline value of NSC Boss Road (Ward-8) is Rs 1,300 per sq.ft, effective from 1 July 2024. This street is located in Madhavaram village, under the Madhavaram SRO, and is classified as Residential Class III Type - I.

How the guideline value of NSC Boss Road (Ward-8) has changed

The guideline value for NSC Boss Road (Ward-8) has undergone several revisions over the years. The earliest recorded revision was in 2012, where the guideline value was Rs 1,200 per sq.ft. In the 2024 revision, the guideline value increased to Rs 1,300 per sq.ft, marking an 8% rise from the previous figure.

There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street. The latest revision in 2024 indicates a significant update to the guideline value, reflecting changes in the property market.

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 guideline value in this area is Rs 1,600 per sq.ft, placing the 2024 figure for NSC Boss Road (Ward-8) below this median.

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

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, and the registration fee at 2% would be Rs 26,000, bringing the total to Rs 1,17,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers NSC Boss Road (Ward-8)?

The NSC Boss Road (Ward-8) falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering a property in Madhavaram. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, it is essential to be aware of the guideline value as it affects the overall cost of the transaction. Buyers should ensure that the sale price is aligned with the guideline value to avoid any discrepancies during registration.

Frequently asked questions

What is the current guideline value of NSC Boss Road (Ward-8)?

The current guideline value of NSC Boss Road (Ward-8) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value increased from Rs 1,200 per sq.ft in 2012 to Rs 1,300 per sq.ft in 2024, reflecting an 8% rise. There are no recorded figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

What is the median guideline value in Madhavaram?

The median guideline value in Madhavaram is Rs 1,600 per sq.ft. The guideline value for NSC Boss Road (Ward-8) is below this median.

What are the stamp duty rates for properties in NSC Boss Road (Ward-8)?

The stamp duty for properties in NSC Boss Road (Ward-8) is charged at 7% of the guideline value or sale price, whichever is higher. The registration fee is 2% of the guideline value or sale price.

Where can I find the Sub Registrar Office for NSC Boss Road (Ward-8)?

The Sub Registrar Office covering NSC Boss Road (Ward-8) is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details by visiting the provided link.