Guideline Value for NVIGNESH NAGAR NINNAIKARAI (WARD -19)

Nvignesh Nagar Ninnaikarai (Ward -19) guideline value

The current guideline value for Nvignesh Nagar Ninnaikarai (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Ninna Karai village under the Chengleput Joint II SRO and is classified as Residential Class I Type - III.

How the guideline value of Nvignesh Nagar Ninnaikarai (Ward -19) has changed

The guideline value for this street has undergone several revisions over the years. In 2012, the value was Rs 600 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 402 per sq.ft. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and then to Rs 660 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. The register does not have figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a guideline value for 2024, ranging from Rs 440 to Rs 3,500 per sq.ft, with a median value of Rs 1,100 per sq.ft. The guideline value for Nvignesh Nagar Ninnaikarai (Ward -19) is below this median.

• Nishanth Avenue: Rs 1,321 per sq.ft (2024)
• Nirmal Nagar (Per): Rs 440 per sq.ft (2024)
• Om Sakthi Street (Per): Rs 660 per sq.ft (2024)
• Om Sakthi Street (Ward -15): Rs 660 per sq.ft (2024)
• Nh2 Extension (Ward -7): Rs 1,321 per sq.ft (2024)
• Ottakoothar Street (Ward -6): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Nvignesh Nagar Ninnaikarai (Ward -19)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value would be Rs 6,60,000. The stamp duty at 7% would amount to Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total to Rs 59,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nvignesh Nagar Ninnaikarai (Ward -19)?

The Sub Registrar Office that covers Nvignesh Nagar Ninnaikarai (Ward -19) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role in the registration process of property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value of a property, which is essential for calculating stamp duty and registration fees at the time of sale.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. This helps maintain transparency and accountability in property dealings within the region.

Frequently asked questions

What is the current guideline value for Nvignesh Nagar Ninnaikarai (Ward -19)?

The current guideline value for Nvignesh Nagar Ninnaikarai (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then increased to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024.

What is the land classification for Nvignesh Nagar Ninnaikarai (Ward -19)?

Nvignesh Nagar Ninnaikarai (Ward -19) is classified as Residential Class I Type - III.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Tamil Nadu.

How is stamp duty calculated for properties in Ninna Karai?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 6,60,000 would incur a stamp duty of Rs 46,200 at 7%.