Guideline Value for Nandavanam Nagar

Nandavanam Nagar guideline value

The current guideline value of Nandavanam Nagar is Rs 990 per sq.ft, effective from 1 July 2024. This area is located in Nandambakkam village and falls under the Padappai SRO. The land classification for this street is Residential Special Type - I.

How the guideline value of Nandavanam Nagar has changed

The guideline value for Nandavanam Nagar has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 75 per sq.ft, which increased significantly to Rs 800 per sq.ft in 2012. However, it then decreased to Rs 603 per sq.ft in 2017. The most recent revisions show an increase to Rs 900 per sq.ft in 2023, followed by a further increase to Rs 990 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 1220%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nandambakkam

In Nandambakkam, there are 94 streets under the Padappai SRO with a 2024 guideline value ranging from Rs 440 to Rs 2,300 per sq.ft. The median value for these streets is Rs 880 per sq.ft, placing Nandavanam Nagar's current figure above that median.

• Nandhavanam Nagar Extn: Rs 990 per sq.ft (2024)
• Nandhavanam Nagar Extn (S.No.549/1B): Rs 990 per sq.ft (2024)
• Nandambakkam To Kundrathur Road: Rs 1,210 per sq.ft (2024)
• N.C.Nagar: Rs 440 per sq.ft (2024)
• Moorthy Nagar: Rs 440 per sq.ft (2024)
• Panjatcharam Nagar: Rs 990 per sq.ft (2024)

Stamp duty and registration fee for property in Nandavanam Nagar

For a 1,000 sq.ft plot at the current rate of Rs 990 per sq.ft, the guideline value amounts to Rs 9,90,000. The stamp duty at 7% would be Rs 69,300, and the registration fee at 2% would be Rs 19,800, totaling Rs 89,100. 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 Nandavanam Nagar?

The Sub Registrar Office that covers Nandavanam Nagar is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nandambakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When registering a property, the higher of the guideline value or the sale price will be used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's assessed value.

Frequently asked questions

What is the current guideline value of Nandavanam Nagar?

The current guideline value of Nandavanam Nagar is Rs 990 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 75 per sq.ft in 2007 to Rs 990 per sq.ft in 2024, marking a significant increase of 1220% overall.

What are the other streets with guideline values in Nandambakkam?

Other streets in Nandambakkam include Nandhavanam Nagar Extn and Panjatcharam Nagar, both valued at Rs 990 per sq.ft in 2024, while Nandambakkam To Kundrathur Road is valued at Rs 1,210 per sq.ft.

What fees are associated with buying property in Nandavanam Nagar?

When buying property, you will incur a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office for Nandavanam Nagar is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.