Guideline Value for Nandanar Road

Nandanar Road guideline value

The current guideline value of Nandanar Road is Rs 2,750 per sq.ft, effective from 1 July 2024. This road is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - III.

How the guideline value of Nandanar Road has changed

The guideline value for Nandanar Road has seen several revisions over the years. The register does not contain figures for the years 2002, 2003, 2007, 2012, and 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, which was an increase from the previous revisions. In the 2024 revision, the guideline value rose to Rs 2,750 per sq.ft, reflecting a 10% increase from the 2023 figure.

This current value aligns with the median guideline value for the 1823 streets in Madipakkam-1, which also stands at Rs 2,750 per sq.ft for 2024. The range for these streets varies from Rs 1,650 to Rs 5,500 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, the guideline values for various streets reflect a diverse range. Nandanar Road's 2024 value matches the median of Rs 2,750 per sq.ft. Below are the guideline values for other streets in Madipakkam-1:

• Nandanar Street: Rs 2,200 per sq.ft (2024)
• Nandanar Street, Ramalinga Nagar Extension: Rs 2,750 per sq.ft (2024)
• Nandan Street: Rs 1,650 per sq.ft (2024)
• Nanjil Street: Rs 2,200 per sq.ft (2024)
• Nakkeeran Street: Rs 3,850 per sq.ft (2024)
• Narayanaapuram 8th Street: Rs 3,850 per sq.ft (2024)

Stamp duty and registration fee for property in Nandanar Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value would be Rs 27,50,000. The stamp duty at 7% would amount to Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, making the total charges Rs 2,47,500. 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 details.

Which Sub Registrar Office covers Nandanar Road?

The Sub Registrar Office that covers Nandanar Road is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. For further assistance, you can find your SRO.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor in property transactions in Madipakkam-1. It serves as a reference point for determining the stamp duty and registration fees payable during the registration process. Buyers and sellers must consider this value to ensure compliance with legal requirements when transferring property ownership.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue based on the value of the property being transferred.

Frequently asked questions

What is the current guideline value of Nandanar Road?

The current guideline value of Nandanar Road is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nandanar Road was Rs 2,500 per sq.ft in 2023 and increased by 10% to Rs 2,750 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, 2012, and 2017.

What are the guideline values for other streets in Madipakkam-1?

Other streets in Madipakkam-1 have varying guideline values, with Nandanar Street at Rs 2,200 per sq.ft, Nandanar Street, Ramalinga Nagar Extension at Rs 2,750 per sq.ft, and Nanjil Street at Rs 1,650 per sq.ft, among others.

Where can I find the Sub Registrar Office for Nandanar Road?

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

How is the stamp duty calculated for properties in Nandanar Road?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 at 7%.