Guideline Value for Nallan Pillai Nagar

Nallan Pillai Nagar guideline value

The current guideline value of Nallan Pillai Nagar is Rs 775 per sq.ft, effective from 1 July 2024. This area is located in Mathuranthagam village under the Madurandakam SRO, classified as Residential Special Type - II.

How the guideline value of Nallan Pillai Nagar has changed

Over the years, the guideline value of Nallan Pillai Nagar has seen significant changes. The 2007 revision recorded a guideline value of Rs 80 per sq.ft, which increased dramatically to Rs 700 per sq.ft in the 2012 revision, marking a rise of 775%. However, in the 2017 revision, the value decreased to Rs 469 per sq.ft, a decline of 33%. The guideline value then rose to Rs 700 per sq.ft in the 2023 revision, and finally, it reached Rs 775 per sq.ft in the 2024 revision, reflecting an increase of 11% from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 869%.

Guideline values in Mathuranthagam

In Mathuranthagam, there are 109 streets under the Madurandakam SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 1,480 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, indicating that the guideline value of Nallan Pillai Nagar is below this median.

• MURUGAN KOIL STREET (a) CHETTI STREET: Rs 1,100 per sq.ft (2024)
• New Police Line: Rs 1,110 per sq.ft (2024)
• Mocherry Northstreet: Rs 660 per sq.ft (2024)
• Mocherri West Street: Rs 660 per sq.ft (2024)
• Mocherri South Street: Rs 660 per sq.ft (2024)
• Mocherri Middle Street: Rs 660 per sq.ft (2024)

Stamp duty and registration fee for property in Nallan Pillai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 775 per sq.ft, the total guideline value would be Rs 7,75,000. The stamp duty, charged at 7%, would amount to Rs 54,250, while the registration fee at 2% would be Rs 15,500. Together, the total cost for these fees would be Rs 69,750. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nallan Pillai Nagar?

The Sub Registrar Office that covers Nallan Pillai Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Mathuranthagam. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. This value ensures that the government receives the appropriate revenue from property transactions based on the established rates.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable fees. This process helps maintain transparency and fairness in property dealings within the region.

Frequently asked questions

What is the current guideline value of Nallan Pillai Nagar?

The current guideline value of Nallan Pillai Nagar is Rs 775 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 80 per sq.ft in 2007, reaching Rs 700 per sq.ft in 2012, dropping to Rs 469 per sq.ft in 2017, and finally increasing to Rs 775 per sq.ft in 2024.

What is the land classification of Nallan Pillai Nagar?

Nallan Pillai Nagar is classified as Residential Special Type - II, indicating its designation for residential purposes.

Where can I find the Sub Registrar Office for Nallan Pillai Nagar?

The Sub Registrar Office for Nallan Pillai Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.

How is stamp duty calculated in Nallan Pillai Nagar?

Stamp duty in Nallan Pillai Nagar is calculated based on the higher of the guideline value or the sale price. The current rate is 7% for stamp duty and 2% for the registration fee.