Guideline Value for Nandan Nagar ( Ward No.26 )

Nandan Nagar ( Ward No.26 ) guideline value

The current guideline value of Nandan Nagar ( Ward No.26 ) is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Nandan Nagar ( Ward No.26 ) has changed

Since the 2017 revision, the guideline value of Nandan Nagar has seen significant increases. The guideline value was Rs 804 per sq.ft in 2017, which rose to Rs 1,200 per sq.ft in 2023, marking a 49% increase. The latest revision in 2024 further increased the value to Rs 1,300 per sq.ft, which is an 8% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 62%.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,300 to Rs 7,500 per sq.ft, with a median value of Rs 1,600 per sq.ft. The guideline value for Nandan Nagar is below this median.

• Nandha Nagar: Rs 1,300 per sq.ft (2024)
• Nanda Nagar, Lakshmipuram (Ward-26): Rs 1,300 per sq.ft (2024)
• Nangu Neri Nagar: Rs 1,300 per sq.ft (2024)
• Narasima Perumal Street (Ward-28): Rs 1,300 per sq.ft (2024)
• Nagoda Nagar: Rs 1,300 per sq.ft (2024)
• Nagavalli Avenue, Ponniammanmedu (Ward-23): Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nandan Nagar ( Ward No.26 )

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value is Rs 13,00,000. The stamp duty at 7% would be Rs 91,000, and the registration fee at 2% would be Rs 26,000, totaling Rs 1,17,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nandan Nagar ( Ward No.26 )?

The Sub Registrar Office covering Nandan Nagar ( Ward No.26 ) is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Madhavaram. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable on the transaction.

When buying or selling property, the guideline value serves as a benchmark for the transaction value. Buyers and sellers must consider this value to ensure compliance with registration requirements and to avoid any legal issues during the property transfer process.

Frequently asked questions

What is the current guideline value of Nandan Nagar ( Ward No.26 )?

The current guideline value of Nandan Nagar ( Ward No.26 ) is Rs 1,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 804 per sq.ft in 2017 to Rs 1,300 per sq.ft in 2024, marking a total increase of 62% over this period.

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

For a property valued at Rs 13,00,000, the stamp duty would be Rs 91,000, and the registration fee would be Rs 26,000, totaling Rs 1,17,000.

Which office handles property registrations in Nandan Nagar?

The Madhavaram Sub Registrar Office handles property registrations in Nandan Nagar ( Ward No.26 ).

How is the guideline value determined for properties in Madhavaram?

The guideline value is determined based on various factors and is revised periodically by the Registration Department. It serves as a base value for property transactions in the area.