Guideline Value for Nagarajapuram

Nagarajapuram guideline value

The current guideline value of Nagarajapuram, located in Nandhivaram village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class I Type - I.

How the guideline value of Nagarajapuram has changed

Over the years, the guideline value of Nagarajapuram has experienced several revisions. The earliest recorded figure is from 2002, where the guideline value was Rs 86 per sq.ft. This figure increased significantly to Rs 328 per sq.ft in 2007, marking a growth of 281%. In 2012, the value rose to Rs 1,200 per sq.ft, reflecting an increase of 266%. However, this figure dropped to Rs 804 per sq.ft in 2017, resulting in a decrease of 33%. The guideline value then remained at Rs 1,200 per sq.ft in both 2023 and 2024, indicating no change in value during this period.

It is important to note that there is no figure available for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by 1,295%.

Guideline values in Nandhivaram

Nandhivaram village has a total of 169 streets under the Gooduvancheri SRO, with guideline values ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 1,500 per sq.ft, placing Nagarajapuram's 2024 figure below this median.

• Nandheswarar Avenue: Rs 1,500 per sq.ft (2024)
• Nandheswarar Nagar 1 Street: Rs 1,500 per sq.ft (2024)
• Nandhewarar Nagar 2 Street: Rs 1,500 per sq.ft (2024)
• Nangooram Nagar: Rs 1,000 per sq.ft (2024)
• Muthumariammankovil Street: Rs 1,500 per sq.ft (2024)
• Muthatamil Street: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nagarajapuram

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value amounts to Rs 12,00,000. The stamp duty is calculated at 7%, resulting in Rs 84,000, while the registration fee at 2% amounts to Rs 24,000. Therefore, the total cost for stamp duty and registration fee together is Rs 1,08,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagarajapuram?

The Sub Registrar Office that covers Nagarajapuram is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nandhivaram. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure they are complying with local regulations during the transaction.

When a property is registered, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue based on the property's assessed value, which is essential for maintaining transparency in real estate transactions.

Frequently asked questions

What is the current guideline value of Nagarajapuram?

The current guideline value of Nagarajapuram is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several revisions, starting from Rs 86 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, marking an overall increase of 1,295%.

What is the median guideline value in Nandhivaram?

The median guideline value in Nandhivaram is Rs 1,500 per sq.ft, with Nagarajapuram's current value being below this median.

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

For a property valued at Rs 12,00,000, the stamp duty is Rs 84,000 and the registration fee is Rs 24,000, totaling Rs 1,08,000.

Which office handles property registrations in Nagarajapuram?

The Gooduvancheri Sub Registrar Office handles property registrations in Nagarajapuram, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.