Guideline Value for Nantha Nagar

Nantha Nagar guideline value

The current guideline value of Nantha Nagar is Rs 1,200 per sq.ft, as per the 2023 revision. This area is located in Mambakkam village and falls under the Gooduvancheri SRO. The land classification is Commercial Class I Type - II.

How the guideline value of Nantha Nagar has changed

Over the years, the guideline value for Nantha Nagar has seen several revisions. The earliest recorded value was Rs 160 per sq.ft in 2007, which increased significantly to Rs 1,200 per sq.ft in 2012, marking a substantial rise of 650%. However, by 2017, the value dropped to Rs 804 per sq.ft, a decrease of 33%. The most recent revision in 2023 set the guideline value back to Rs 1,200 per sq.ft, reflecting an increase of 49% from the 2017 figure.

In summary, from 2007 to 2023, the overall increase in guideline value is 650%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2024 for this street.

Guideline values in Mambakkam

Currently, there are no specific village figures provided for Mambakkam. The guideline value of Nantha Nagar stands at Rs 1,200 per sq.ft. Unfortunately, there are no other streets in Mambakkam listed under the Gooduvancheri SRO.

Stamp duty and registration fee for property in Nantha Nagar

For a 1,000 sq.ft plot at the current rate, the guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000. Together, the total cost for these fees would be Rs 1,08,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nantha Nagar?

The Sub Registrar Office that covers Nantha Nagar is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanjery-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Mambakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two is used to calculate the applicable stamp duty and registration fees, which are mandatory for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Nantha Nagar?

The current guideline value of Nantha Nagar is Rs 1,200 per sq.ft, as per the 2023 revision.

How has the guideline value changed over the years?

The guideline value has changed from Rs 160 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2012, then dropped to Rs 804 per sq.ft in 2017, and returned to Rs 1,200 per sq.ft in 2023.

What is the stamp duty for property in Nantha Nagar?

The stamp duty for property in Nantha Nagar is 7% of the guideline value or sale price, whichever is higher.

Where is the Gooduvancheri Sub Registrar Office located?

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

Are there other streets in Mambakkam with guideline values?

Currently, there are no other streets in Mambakkam listed under the Gooduvancheri SRO, and no specific village figures are provided for the area.