Guideline Value for Nadigar Thilagam Shivaji Ganesan Nagar

Nadigar Thilagam Shivaji Ganesan Nagar guideline value

The current guideline value of Nadigar Thilagam Shivaji Ganesan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Saligramam village under the Virugambakkam SRO, classified as Residential Class III Type - I.

How the guideline value of Nadigar Thilagam Shivaji Ganesan Nagar has changed

The guideline value for Nadigar Thilagam Shivaji Ganesan Nagar has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 563 per sq.ft. This increased to Rs 615 per sq.ft in 2003, marking a 9% rise. In 2007, the value jumped significantly to Rs 915 per sq.ft, reflecting a 49% increase. The 2012 revision saw the value remain at Rs 3,000 per sq.ft, while the 2017 revision increased it to Rs 2,010 per sq.ft, which was a decrease of 33%. The value then rose to Rs 3,000 per sq.ft in 2023, before reaching the current figure of Rs 3,300 per sq.ft in 2024, a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 486%. There are no figures available for revisions in years not listed in the register for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO that carry a 2024 guideline value, ranging from Rs 2,750 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, placing Nadigar Thilagam Shivaji Ganesan Nagar's 2024 figure below that median.

• Nagappan Street: Rs 3,300 per sq.ft (2024)
• Muthuramalinga Street: Rs 5,500 per sq.ft (2024)
• Nagathamman Koil Street: Rs 3,300 per sq.ft (2024)
• Muthulakshmi Street: Rs 4,400 per sq.ft (2024)
• Muthukumarappa Road: Rs 9,900 per sq.ft (2024)
• Muthukumaran Street: Rs 7,150 per sq.ft (2024)

Stamp duty and registration fee for property in Nadigar Thilagam Shivaji Ganesan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value would be Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, making the total cost for these fees Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nadigar Thilagam Shivaji Ganesan Nagar?

The Sub Registrar Office that covers Nadigar Thilagam Shivaji Ganesan Nagar is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in determining the stamp duty and registration fees when buying or selling property in Saligramam. It serves as a benchmark for the minimum value at which a property can be registered, ensuring that the government receives the appropriate revenue from property transactions.

When a property is sold, the buyer and seller must consider the guideline value to calculate the total costs involved in the transaction. This includes the stamp duty and registration fees, which are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Nadigar Thilagam Shivaji Ganesan Nagar?

The current guideline value of Nadigar Thilagam Shivaji Ganesan Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2002, the guideline value has increased from Rs 563 per sq.ft to Rs 3,300 per sq.ft in 2024, marking an overall increase of 486% over the years.

What is the classification of land in Nadigar Thilagam Shivaji Ganesan Nagar?

Nadigar Thilagam Shivaji Ganesan Nagar is classified as Residential Class III Type - I under the Virugambakkam SRO.

Where can I find the Sub Registrar Office for this area?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 2,97,000.