Guideline Value for NVIGNESH NAGAR NINNAIKARAI (WARD -19)

Nvignesh Nagar Ninnaikarai (Ward -19) guideline value

The current guideline value of Nvignesh Nagar Ninnaikarai (Ward -19) is Rs 660 per sq.ft, effective from 1 July 2024. This area is located in Panangottur village and falls under the Chengleput Joint II SRO. The land classification for this street is Residential Class I Type - III.

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

The guideline value for Nvignesh Nagar Ninnaikarai has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which then decreased to Rs 402 per sq.ft in 2017. Following this, the value increased significantly to Rs 600 per sq.ft in 2023, and further rose to Rs 660 per sq.ft in the 2024 revision. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a substantial increase of 49%. The overall change from the 2012 revision to the 2024 revision shows a slight increase of 10%.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 990 per sq.ft, making the current guideline value of Rs 660 per sq.ft for Nvignesh Nagar Ninnaikarai below the median.

• 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 440 per sq.ft (2024)
• Nh2 Extension (Ward -7): Rs 1,320 per sq.ft (2024)
• Ottakoothar Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Paavanar Street (Ward -4): Rs 1,760 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 amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, and the registration fee at 2% would be Rs 13,200, totaling 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 further calculations.

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, Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial factor when registering property in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is sold, the guideline value helps to establish the minimum value for taxation purposes. This ensures that the government receives appropriate revenue from property transactions, based on the established guideline values for different streets and areas.

Frequently asked questions

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

The current guideline value of 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)?

The land classification for Nvignesh Nagar Ninnaikarai (Ward -19) is Residential Class I Type - III.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 6,60,000, the stamp duty would be Rs 46,200 and the registration fee would be Rs 13,200, totaling Rs 59,400. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles registrations for Nvignesh Nagar Ninnaikarai (Ward -19)?

The Chengleput Joint II Sub Registrar Office handles registrations for Nvignesh Nagar Ninnaikarai (Ward -19), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.