Guideline Value for Nadesan Nagar

Nadesan Nagar guideline value

The current guideline value of Nadesan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in 5. Athipattu village under the Konnur SRO and is classified as Residential Special Type - III.

How the guideline value of Nadesan Nagar has changed

The guideline value for Nadesan Nagar has seen significant changes over the years. The 2017 revision set the value at Rs 1,675 per sq.ft, which increased to Rs 2,500 per sq.ft in the 2023 revision. The latest revision in 2024 raised the value further to Rs 2,750 per sq.ft, representing a 10% increase from the previous year. Notably, the overall increase from the 2017 revision to the 2024 revision is 64%.

There are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. The 2023 to 2024 revision reflects a 10% increase, while the increase from 2017 to 2023 was 49%.

Guideline values in 5. Athipattu

In 5. Athipattu, there are 119 streets under the Konnur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 7,650 per sq.ft. The median value is Rs 2,200 per sq.ft, making Nadesan Nagar's current value of Rs 2,750 per sq.ft above this median.

• Nageswara rao Road: Rs 3,601 per sq.ft (2024)
• Narmada Street (ICF Colony): Rs 2,400 per sq.ft (2024)
• Munuswamy Street: Rs 2,750 per sq.ft (2024)
• Mullai Street: Rs 2,200 per sq.ft (2024)
• Nehru Street 1Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)
• Nehru Street 2Street(Chelliamman nagar): Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nadesan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total cost for these fees Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use the stamp duty and registration fee calculator for more accurate calculations.

Which Sub Registrar Office covers Nadesan Nagar?

Nadesan Nagar falls under the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 5. Athipattu

The guideline value is a crucial factor in the registration process for property transactions in 5. Athipattu. It determines the minimum value at which a property can be registered, impacting the stamp duty and registration fees payable at the time of the transaction.

When buying or selling property, the guideline value serves as a reference point for both buyers and sellers to ensure compliance with local regulations. It is essential to be aware of these values to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nadesan Nagar?

The current guideline value of Nadesan Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 1,675 per sq.ft in 2017 to Rs 2,750 per sq.ft in 2024, marking an overall increase of 64%.

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

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a 1,000 sq.ft plot at Rs 2,750 per sq.ft, the total fees would be Rs 2,47,500.

Which office handles property registrations for Nadesan Nagar?

The Konnur Sub Registrar Office handles property registrations for Nadesan Nagar, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the significance of the guideline value in property transactions?

The guideline value serves as a reference for the minimum registration value of a property, affecting the stamp duty and registration fees during transactions. It ensures compliance with local regulations and helps in determining the appropriate fees payable.