Guideline Value for Nangooram Nagar

Nangooram Nagar guideline value

The current guideline value of Nangooram Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024. This area is located in Nandhivaram village, under the Gooduvancheri SRO, and is classified as Residential Class II Type - I.

How the guideline value of Nangooram Nagar has changed

The guideline value for Nangooram Nagar has undergone several revisions over the years. In 2002, the value was Rs 88 per sq.ft, which increased significantly to Rs 436 per sq.ft in 2007, marking a change of +395%. The value then rose to Rs 1,000 per sq.ft in 2012, showing an increase of +129%. However, from 2012 to 2017, there was a decrease to Rs 670 per sq.ft, reflecting a change of -33%. Following this, the value rose again to Rs 1,000 per sq.ft in 2023, with a change of +49%. The most recent revision in 2024 has kept the guideline value at Rs 1,000 per sq.ft, showing no change from the previous year.

It is important to note that there is no figure for the year 2003 in the register for this street. Overall, from 2002 to 2024, the guideline value has increased by +1036%.

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, with a median value of Rs 1,500 per sq.ft. The guideline value for Nangooram Nagar is below this median.

• Nandhewarar Nagar 2 Street: Rs 1,500 per sq.ft (2024)
• Nandheswarar Nagar 1 Street: Rs 1,500 per sq.ft (2024)
• Nandheswarar Avenue: Rs 1,500 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 Nangooram Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,000 per sq.ft, the total guideline value amounts to Rs 10,00,000. The stamp duty at 7% would be Rs 70,000, and the registration fee at 2% would be Rs 20,000, bringing the total fees to Rs 90,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for further assistance.

Which Sub Registrar Office covers Nangooram Nagar?

The Sub Registrar Office that covers Nangooram Nagar is 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 crucial factor in the registration process when buying or selling property in Nandhivaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must consider this value to ensure compliance with local regulations.

When a property is registered, the guideline value is used to calculate the applicable duties and fees. This ensures that the transaction is recorded accurately and that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nangooram Nagar?

The current guideline value of Nangooram Nagar is Rs 1,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 88 per sq.ft in 2002 to Rs 1,000 per sq.ft in 2024, reflecting an overall increase of +1036% over the years.

What are the stamp duty and registration fees for property in Nangooram Nagar?

For a 1,000 sq.ft plot valued at Rs 1,000 per sq.ft, the total guideline value is Rs 10,00,000. The stamp duty would be Rs 70,000 and the registration fee would be Rs 20,000, totaling Rs 90,000.

Which office handles the registration for Nangooram Nagar?

The Gooduvancheri Sub Registrar Office handles the registration for Nangooram Nagar, located at Defence Colony Road, near Veterinary Hospital, Nandhivaram, Guduvancheri-603202.

What is the significance of the guideline value in property transactions?

The guideline value is essential for calculating stamp duty and registration fees during property transactions, ensuring compliance with local regulations and accurate record-keeping.