Guideline Value for Nanmangalam Road

Nanmangalam Road guideline value

The current guideline value of Nanmangalam Road is Rs 2,420 per sq.ft, effective from 1 July 2024. This road is located in Nemilicherry village under the Pallavaram SRO, classified as Residential Class I Type - I.

How the guideline value of Nanmangalam Road has changed

The guideline value for Nanmangalam Road has experienced significant changes over the years. In the 2007 revision, the value was Rs 300 per sq.ft. This increased dramatically to Rs 2,200 per sq.ft in 2012, marking a rise of 633%. However, it then dropped to Rs 1,474 per sq.ft in 2017, a decrease of 33%. The 2023 revision saw it rise again to Rs 2,200 per sq.ft, and the current 2024 revision reflects an increase to Rs 2,420 per sq.ft, which is a 10% rise from the previous year.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 707%.

Guideline values in Nemilicherry

In Nemilicherry, there are 172 streets under the Pallavaram SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft. The median value for these streets is Rs 2,160 per sq.ft, making the 2024 guideline value of Nanmangalam Road above this median.

• Natrajapuram 1st Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 2nd Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 3rd Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 4th Street: Rs 2,160 per sq.ft (2024)
• Natrajapuram 5th Street: Rs 2,160 per sq.ft (2024)
• Nagappan Road: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Nanmangalam Road

For a 1,000 sq.ft plot at the current guideline value of Rs 2,420 per sq.ft, the total guideline value would be Rs 24,20,000. The stamp duty at 7% would amount to Rs 1,69,400, and the registration fee at 2% would be Rs 48,400, bringing the total to Rs 2,17,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nanmangalam Road?

The Sub Registrar Office that covers Nanmangalam Road is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nemilicherry. It determines the minimum value at which the property must be registered, ensuring that the transaction is recorded at a fair value according to government standards.

When a property is sold, the guideline value serves as a benchmark for calculating stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher, to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nanmangalam Road?

The current guideline value of Nanmangalam Road is Rs 2,420 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen significant changes, from Rs 300 per sq.ft in 2007 to Rs 2,420 per sq.ft in 2024, marking an overall increase of 707%.

What are the stamp duty and registration fees for property on Nanmangalam Road?

For a property valued at Rs 24,20,000, the stamp duty would be Rs 1,69,400 and the registration fee would be Rs 48,400, totaling Rs 2,17,800.

Which Sub Registrar Office covers this area?

The Pallavaram Sub Registrar Office covers Nanmangalam Road, located at 7th Main Road, New Colony, Chromepet, Chennai-600044.

What is the median guideline value for streets in Nemilicherry?

The median guideline value for streets in Nemilicherry is Rs 2,160 per sq.ft, with Nanmangalam Road's current value being above this median.