Guideline Value for NSK NAGAR

Nsk Nagar guideline value

The current guideline value of Nsk Nagar, located in Ramapuram village under the Chennai South Joint II SRO, is Rs 1,950 per sq.ft, effective from 1 July 2024. This area falls under the Residential Class III Type - I land classification.

How the guideline value of Nsk Nagar has changed

The guideline value for Nsk Nagar has seen several revisions over the years. In 2007, the value was Rs 900 per sq.ft, which increased to Rs 1,750 per sq.ft in 2012. However, it dropped to Rs 1,172 per sq.ft in 2017. The value then rose significantly to Rs 1,750 per sq.ft in 2023, before reaching the current figure of Rs 1,950 per sq.ft in 2024, marking an increase of 11% from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 117%. The revisions for the years 2002 and 2003 do not have any figures for this street in the register.

Guideline values in Ramapuram

Ramapuram consists of 394 streets under the Chennai South Joint II SRO, with 2024 guideline values ranging from Rs 1,950 to Rs 6,600 per sq.ft. The median guideline value in this area is Rs 3,100 per sq.ft, placing Nsk Nagar's current value below this median.

• Ohm Eswaran Street: Rs 1,950 per sq.ft (2024)
• Om Eswari Street: Rs 1,950 per sq.ft (2024)
• Ottrai Vadai Street: Rs 1,950 per sq.ft (2024)
• New Pedda Street: Rs 2,750 per sq.ft (2024)
• New Padda Lane: Rs 2,750 per sq.ft (2024)
• Pachaiappan Street: Rs 1,950 per sq.ft (2024)

Stamp duty and registration fee for property in Nsk Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,950 per sq.ft, the total guideline value would be Rs 19,50,000. The stamp duty at 7% would amount to Rs 1,36,500, while the registration fee at 2% would be Rs 39,000, bringing the total fees to Rs 1,75,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nsk Nagar?

The Sub Registrar Office that covers Nsk Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for further assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Ramapuram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Nsk Nagar?

The current guideline value of Nsk Nagar is Rs 1,950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 900 per sq.ft in 2007 to Rs 1,950 per sq.ft in 2024, reflecting an overall increase of 117% over this period.

What is the median guideline value in Ramapuram?

The median guideline value in Ramapuram is Rs 3,100 per sq.ft, with Nsk Nagar's value being below this median.

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

For a 1,000 sq.ft plot, the total guideline value is Rs 19,50,000, resulting in a stamp duty of Rs 1,36,500 and a registration fee of Rs 39,000, totaling Rs 1,75,500.

Where can I find the Sub Registrar Office for Nsk Nagar?

The Sub Registrar Office for Nsk Nagar is the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.