Guideline Value for Nangil Nagar

Nangil Nagar guideline value

The current guideline value of Nangil Nagar is Rs 701 per sq.ft, effective from 1 July 2024. This area is located in Karanaipuducheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Nangil Nagar has changed

The guideline value for Nangil Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, when it was Rs 200 per sq.ft. It increased significantly to Rs 700 per sq.ft in 2012, followed by a decrease to Rs 469 per sq.ft in 2017. The value then rose to Rs 700 per sq.ft in 2023, and finally to Rs 701 per sq.ft in 2024, showing no change from the previous year.

Between 2017 and 2023, the value increased by 49%. The jump from 2007 to 2012 was a substantial 250%, while the overall change from 2007 to 2024 reflects a total increase of 251%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Karanaipuducheri

In Karanaipuducheri, there are 108 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 400 to Rs 2,239 per sq.ft, with a median value of Rs 802 per sq.ft. The guideline value for Nangil Nagar is below this median.

• Nishanth Avenue: Rs 701 per sq.ft (2024)
• Mohanarangam Nagar: Rs 600 per sq.ft (2024)
• M.K.N. Nagar: Rs 701 per sq.ft (2024)
• M.A.V. Avenue: Rs 701 per sq.ft (2024)
• Mathimozhi Enclave: Rs 1,642 per sq.ft (2024)
• Mallika Nagar: Rs 700 per sq.ft (2024)

Stamp duty and registration fee for property in Nangil Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 701 per sq.ft, the total guideline value would be Rs 7,01,000. The stamp duty at 7% would amount to Rs 49,070, and the registration fee at 2% would be Rs 14,020, bringing the total cost to Rs 63,090. It is important to note that duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nangil Nagar?

The Sub Registrar Office that covers Nangil Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, 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 Karanaipuducheri

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

When a property is registered, the guideline value is compared to the sale price, and the higher of the two figures is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nangil Nagar?

The current guideline value of Nangil Nagar is Rs 701 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2007 to Rs 701 per sq.ft in 2024, reflecting an overall increase of 251% over the years.

What is the land classification of Nangil Nagar?

Nangil Nagar is classified as Residential Special Type - II, which indicates its suitability for residential development.

Where can I find the registration office for Nangil Nagar?

The registration office for Nangil Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Nangil Nagar?

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 7,01,000, the stamp duty would be Rs 49,070 at the rate of 7%.