Guideline Value for Nandheswarar Nagar 1 Street

Nandheswarar Nagar 1 Street guideline value

The current guideline value of Nandheswarar Nagar 1 Street is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Nandhivaram village and falls under the Gooduvancheri SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Nandheswarar Nagar 1 Street has changed

The guideline value for Nandheswarar Nagar 1 Street has seen several revisions over the years. Starting from the 2002 revision, the value was Rs 88 per sq.ft. This increased significantly to Rs 328 per sq.ft in 2007, marking a change of +273%. The value then rose sharply to Rs 1,500 per sq.ft in 2012, reflecting a substantial increase of +357%. However, it decreased to Rs 1,005 per sq.ft in 2017, which was a decline of -33%. The value remained at Rs 1,500 per sq.ft in both the 2023 and 2024 revisions, indicating no change between these two years.

Overall, from 2002 to 2024, the guideline value has increased by +1,605%. Notably, the register has no figure for this street in 2003.

Guideline values in Nandhivaram

In Nandhivaram, there are 169 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value among these streets is Rs 1,500 per sq.ft, which is equal to the 2024 figure for Nandheswarar Nagar 1 Street.

• Nandheswarar Avenue: Rs 1,500 per sq.ft (2024)
• Nandhewarar Nagar 2 Street: Rs 1,500 per sq.ft (2024)
• Nangooram Nagar: Rs 1,000 per sq.ft (2024)
• Narayanapuram: Rs 1,500 per sq.ft (2024)
• Narayanapuram Main Road: Rs 1,500 per sq.ft (2024)
• Nagarajapuram: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nandheswarar Nagar 1 Street

For a 1,000 sq.ft plot at the current rate of Rs 1,500 per sq.ft, the guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that 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 further calculations.

Which Sub Registrar Office covers Nandheswarar Nagar 1 Street?

The Nandheswarar Nagar 1 Street is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in the registration process when buying or selling property in Nandhivaram. It serves as the basis for calculating stamp duty and registration fees, ensuring that the transaction is legally compliant and accurately recorded.

When a property is sold, the guideline value helps determine the minimum price at which the property can be registered. This ensures that the sale price reflects the official valuation set by the authorities, providing a transparent framework for property transactions.

Frequently asked questions

What is the current guideline value of Nandheswarar Nagar 1 Street?

The current guideline value of Nandheswarar Nagar 1 Street is Rs 1,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has changed significantly, with the most notable increase from Rs 88 per sq.ft in 2002 to Rs 1,500 per sq.ft in 2012. The value remained at Rs 1,500 per sq.ft in both 2023 and 2024.

What is the median guideline value in Nandhivaram?

The median guideline value in Nandhivaram is Rs 1,500 per sq.ft, which is the same as the current value for Nandheswarar Nagar 1 Street.

What are the stamp duty and registration fees for properties in Nandheswarar Nagar 1 Street?

For a property valued at Rs 15,00,000, the stamp duty would be Rs 1,05,000 and the registration fee would be Rs 30,000, totaling Rs 1,35,000.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202, Chengalpattu registration zone.