Guideline Value for NSS Nagar

NSS Nagar guideline value

The current guideline value of NSS Nagar, located in Madhavaram village under the Madhavaram SRO, is Rs 1,600 per sq.ft as per the 2024 revision effective from 1 July 2024. This area is classified as Residential Class II Type - I.

How the guideline value of NSS Nagar has changed

Over the years, the guideline value of NSS Nagar has seen several revisions. The 2012 revision set the value at Rs 1,500 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 1,600 per sq.ft, marking a 7% increase from the previous year.

Before 2012, there are no figures available for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Madhavaram

The guideline values for Madhavaram reflect a range from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft in the 2024 revision. NSS Nagar's current guideline value of Rs 1,600 per sq.ft aligns with this median.

• N S K Nagar (Ward-20): Rs 2,200 per sq.ft (2024)
• NSC Boss Road (Ward-8): Rs 1,300 per sq.ft (2024)
• NSC BOSE Nagar: Rs 1,300 per sq.ft (2024)
• North Telephone Colony: Rs 1,600 per sq.ft (2024)
• Ommakulam Medu: Rs 1,300 per sq.ft (2024)
• Ommakulam medu, MRH Road (Ward-11): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in NSS Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,600 per sq.ft, the total guideline value would be Rs 16,00,000. The stamp duty at 7% would amount to Rs 1,12,000, and the registration fee at 2% would be Rs 32,000, totaling Rs 1,44,000. 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 NSS Nagar?

The NSS Nagar area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for further assistance.

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

The guideline value is a crucial aspect during property registration in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable when buying or selling property in the area.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty and registration fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of NSS Nagar?

The current guideline value of NSS Nagar is Rs 1,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,600 per sq.ft in 2024, showing a 7% increase from the previous year. There were no figures available for the years 2002, 2003, 2007, and 2017.

What is the land classification of NSS Nagar?

NSS Nagar is classified as Residential Class II Type - I, which indicates its designation for residential use.

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

For a property valued at Rs 16,00,000, the stamp duty would be Rs 1,12,000 and the registration fee would be Rs 32,000, totaling Rs 1,44,000. These fees are based on the guideline value or the sale price, whichever is higher.

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

The Madhavaram Sub Registrar Office covers NSS Nagar and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find more details online.