Guideline Value for Nandha Nagar

Nandha Nagar guideline value

The current guideline value of Nandha Nagar is Rs 1,300 per sq.ft, effective from 1 July 2024. This area is located in Madhavaram village and falls under the Madhavaram SRO. The land classification for this street is Residential Class III Type - I.

How the guideline value of Nandha Nagar has changed

In the 2017 revision, the guideline value was Rs 804 per sq.ft. This increased to Rs 1,200 per sq.ft in the 2023 revision, marking a significant rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,300 per sq.ft, reflecting an 8% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 62%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Madhavaram

In Madhavaram, there are 1,946 streets under the Madhavaram SRO that carry 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 Nandha Nagar is below this median.

• Nandan Nagar (Ward No.26): 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 Nandha Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,300 per sq.ft, the guideline value would be Rs 13,00,000. The stamp duty at 7% would amount to 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 Nandha Nagar?

The Nandha Nagar area is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060, within the Chennai registration zone. 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 essential during the registration process for property transactions in Madhavaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When a property is registered, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue based on the established value of the property.

Frequently asked questions

What is the current guideline value of Nandha Nagar?

The current guideline value of Nandha Nagar 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 changed from Rs 804 per sq.ft in 2017 to Rs 1,200 per sq.ft in 2023, and then to Rs 1,300 per sq.ft in 2024. This represents an overall increase of 62% from 2017 to 2024.

What are the other streets in Madhavaram with similar guideline values?

Other streets in Madhavaram under the Madhavaram SRO have a guideline value of Rs 1,300 per sq.ft in 2024, including Nandan Nagar, Nanda Nagar (Lakshmipuram), Nangu Neri Nagar, Narasima Perumal Street, Nagoda Nagar, and Nagavalli Avenue (Ponniammanmedu).

What are the stamp duty and registration fees for properties in Nandha 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. These fees are calculated based on the higher of the guideline value or the sale price.

Which office handles property registrations for Nandha Nagar?

The Madhavaram Sub Registrar Office handles property registrations for Nandha Nagar. It is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.