Guideline Value for Nagendira Nagar

Nagendira Nagar guideline value

The current guideline value of Nagendira Nagar is Rs 13,200 per sq.ft, effective from 1 July 2024. This area is located in Velachery village, under the Velacheri SRO, and is classified as Commercial Class I Type - I.

How the guideline value of Nagendira Nagar has changed

The guideline value for Nagendira Nagar has seen significant changes over the years. In 2002, the value was Rs 491 per sq.ft, which increased to Rs 2,000 per sq.ft in 2007, marking an increase of 307%. The value then surged to Rs 12,000 per sq.ft in 2012, reflecting a substantial increase of 500%. The most recent revision in 2024 set the value at Rs 13,200 per sq.ft, which is a 10% increase from the 2012 figure.

There are no figures available for the revisions in 2003, 2017, and 2023 for this street. Overall, from 2002 to 2024, the guideline value has increased by 2588%.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, placing Nagendira Nagar's 2024 figure above this median.

• Nagendira Nagar, Velachery Main Road: Rs 13,200 per sq.ft (2024)
• Muthurajulu Street: Rs 4,400 per sq.ft (2024)
• Muthuraja Street: Rs 4,400 per sq.ft (2024)
• Narasimman Nagar: Rs 3,850 per sq.ft (2024)
• Narasingapuram 1st Street: Rs 4,400 per sq.ft (2024)
• Narasingapuram 2nd Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nagendira Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, totaling Rs 11,88,000. 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 more detailed calculations.

Which Sub Registrar Office covers Nagendira Nagar?

The Sub Registrar Office that covers Nagendira Nagar is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions in Velachery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that the government receives its due revenue from property transactions, based on the established guideline values.

Frequently asked questions

What is the current guideline value of Nagendira Nagar?

The current guideline value of Nagendira Nagar is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 491 per sq.ft in 2002 to Rs 13,200 per sq.ft in 2024, reflecting an overall increase of 2588% over this period.

What is the land classification for Nagendira Nagar?

Nagendira Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where can I find the Sub Registrar Office for Nagendira Nagar?

The Sub Registrar Office for Nagendira Nagar is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in Nagendira Nagar?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 1,32,00,000, the stamp duty would be Rs 9,24,000 at a rate of 7%.