Guideline Value for Nadesan Nagar

Nadesan Nagar guideline value

The current guideline value of Nadesan Nagar, located in Perungalathur village under the Padappai SRO, is Rs 3,960 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Class I Type - I.

How the guideline value of Nadesan Nagar has changed

The guideline value of Nadesan Nagar has seen several revisions over the years. The earliest recorded value was Rs 3,600 per sq.ft in 2012. This value then decreased to Rs 2,412 per sq.ft in 2017, marking a decline of 33%. Following this, the value increased significantly to Rs 3,600 per sq.ft in 2023, and then further rose to Rs 3,960 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, there was a substantial increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perungalathur

In Perungalathur, there are 411 streets under the Padappai SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 5,500 per sq.ft, with a median value of Rs 2,310 per sq.ft. The guideline value for Nadesan Nagar is above this median.

• Muthuvelar Street: Rs 1,980 per sq.ft (2024)
• Muthirulandi Street: Rs 1,980 per sq.ft (2024)
• Nammaalvar Street: Rs 1,980 per sq.ft (2024)
• Mudichur Road: Rs 3,960 per sq.ft (2024)
• M.R.Rajamanikkam Street: Rs 1,650 per sq.ft (2024)
• MRK Nagar: Rs 1,650 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 3,960 per sq.ft, the total guideline value would be Rs 39,60,000. The stamp duty at 7% would amount to Rs 2,77,200, and the registration fee at 2% would be Rs 79,200, bringing the total cost for these fees to Rs 3,56,400. 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 Nadesan Nagar?

The Sub Registrar Office that covers Nadesan Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Perungalathur. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value serves as a benchmark for the transaction price. Buyers and sellers must consider this value to ensure compliance with local regulations and 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 3,960 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,600 per sq.ft in 2012 to Rs 2,412 per sq.ft in 2017, then increased to Rs 3,600 per sq.ft in 2023, and finally to Rs 3,960 per sq.ft in 2024.

What is the land classification for Nadesan Nagar?

The land classification for Nadesan Nagar is Commercial Class I Type - I.

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

For a property valued at Rs 39,60,000, the stamp duty is Rs 2,77,200 and the registration fee is Rs 79,200, totaling Rs 3,56,400.

Which office handles registrations for Nadesan Nagar?

The Padappai Sub Registrar Office handles registrations for Nadesan Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.