Guideline Value for NVN Nagar

NVN Nagar guideline value

The current guideline value of NVN Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024. This area is located in Thirumangalam village under the AnnaNagar SRO, classified as Residential Class II Type - II.

How the guideline value of NVN Nagar has changed

The guideline value for NVN Nagar has undergone several revisions over the years. In 2007, the value was Rs 1,700 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, it then decreased to Rs 2,680 per sq.ft in 2017 before rising significantly to Rs 4,000 per sq.ft in 2023. The latest revision in 2024 set the value at Rs 4,400 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, the value surged by 49%, while the jump from 2012 to 2017 saw a decrease of 33%. The substantial increase from 2007 to 2012 was 135%. Overall, from 2007 to 2024, the guideline value has increased by 159%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Thirumangalam

In Thirumangalam, there are 149 streets under the AnnaNagar SRO with a 2024 guideline value ranging from Rs 3,300 to Rs 15,900 per sq.ft. The median value for these streets is Rs 11,500 per sq.ft, placing NVN Nagar's 2024 figure below this median.

• Old Thirumangalam End Point to 17th Main Road Facing West: Rs 13,200 per sq.ft (2024)
• New Colony Street: Rs 3,300 per sq.ft (2024)
• Nehru Nagar 5th Street, K Block West: Rs 11,500 per sq.ft (2024)
• Periyar Nagar: Rs 4,400 per sq.ft (2024)
• Periyar Street: Rs 3,300 per sq.ft (2024)
• Pillaiyar Koil Street: Rs 12,600 per sq.ft (2024)

Stamp duty and registration fee for property in NVN Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value amounts to Rs 44,00,000. The stamp duty at 7% would be Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, bringing the total cost for these fees to Rs 3,96,000. It is important to note that 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 NVN Nagar?

The Sub Registrar Office that covers NVN Nagar is the AnnaNagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Thirumangalam, as it determines the stamp duty and registration fees payable. Buyers should be aware that these fees are calculated based on the guideline value or the sale price, whichever is higher.

At the time of registration, the guideline value ensures that the property is assessed fairly for taxation purposes. It provides a standardized basis for determining the financial obligations associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of NVN Nagar?

The current guideline value of NVN Nagar is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, rising from Rs 1,700 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, with various increases and decreases in between.

What is the median guideline value in Thirumangalam?

The median guideline value in Thirumangalam is Rs 11,500 per sq.ft, with NVN Nagar's value being below this median.

What are the stamp duty and registration fees for NVN Nagar?

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000 and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Where is the Sub Registrar Office for NVN Nagar located?

The Sub Registrar Office for NVN Nagar is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.