Guideline Value for Namadhu Nagar

Namadhu Nagar guideline value

The current guideline value of Namadhu Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024. This area is located in Kolapakkam village, under the Pammal Sub Registrar Office (SRO), with a land classification of Residential Class II Type - I.

How the guideline value of Namadhu Nagar has changed

The guideline value for Namadhu Nagar has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,200 per sq.ft, which is a 10% increase from Rs 2,000 per sq.ft in the 2023 revision. Prior to that, the 2017 revision recorded a guideline value of Rs 1,340 per sq.ft, marking a significant increase of 49% to the 2023 figure.

It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2012 in the register for this street. Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%.

Guideline values in Kolapakkam

In Kolapakkam, there are 111 streets under the Pammal SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 6,850 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, which is equal to the current guideline value of Namadhu Nagar.

• Narayanan Nagar (ward 6): Rs 2,750 per sq.ft (2024)
• Nehru Street: Rs 1,980 per sq.ft (2024)
• M.R.K Nagar: Rs 2,200 per sq.ft (2024)
• Nutech Inscape: Rs 3,080 per sq.ft (2024)
• M.G.R Nagar (ward 3): Rs 1,650 per sq.ft (2024)
• M.G.R Nagar (ward 1): Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Namadhu Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty is charged at 7%, which totals Rs 1,54,000, and the registration fee is charged at 2%, amounting to Rs 44,000. Together, the total cost for stamp duty and registration fee would be Rs 1,98,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Namadhu Nagar?

The Sub Registrar Office that covers Namadhu Nagar is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kolapakkam. It serves as the basis for calculating the stamp duty and registration fees that must be paid when buying or selling property in this area.

When a property is sold, the sale price or the guideline value, whichever is higher, is used to determine the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Namadhu Nagar?

The current guideline value of Namadhu Nagar is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 64% across these years.

What are the other guideline values in Kolapakkam?

In Kolapakkam, other streets have guideline values ranging from Rs 1,650 to Rs 6,850 per sq.ft, with the median value being Rs 2,200 per sq.ft.

What fees are associated with buying property in Namadhu Nagar?

When purchasing property in Namadhu Nagar, buyers need to pay stamp duty at 7% and a registration fee at 2% of the guideline value or the sale price, whichever is higher.

Which office handles property registration for Namadhu Nagar?

The Pammal Sub Registrar Office is responsible for property registration in Namadhu Nagar, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.