Guideline Value for Nazareth Nagar

Nazareth Nagar guideline value

The current guideline value of Nazareth Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024. This locality is part of Sriperumbudur A village, under the Sriperumpudur SRO, and falls under the Residential Class I Type - I land classification.

How the guideline value of Nazareth Nagar has changed

Over the years, the guideline value for Nazareth Nagar has seen several revisions. The most recent revision in 2024 maintains the value at Rs 1,200 per sq.ft, which is the same as the 2023 revision. The earlier revision in 2017 recorded a guideline value of Rs 804 per sq.ft. Notably, there are no figures available for the years 2002, 2003, 2007, and 2012 for this street.

From 2017 to 2023, the guideline value increased by 49%, and the overall increase from 2017 to 2024 is also 49%. The consistency in the value from 2023 to 2024 indicates stability in the pricing for this locality.

Guideline values in Sriperumbudur A

In Sriperumbudur A, there are 238 streets under the Sriperumpudur SRO that carry a guideline value for 2024, ranging from Rs 400 to Rs 3,000 per sq.ft. The median guideline value for these streets is Rs 700 per sq.ft, placing Nazareth Nagar's 2024 figure above that median.

• Navaneetham Nagar: Rs 700 per sq.ft (2024)
• Nehru Street: Rs 700 per sq.ft (2024)
• Nanthagopal Reddy Avenue: Rs 1,200 per sq.ft (2024)
• Nandagopal Nagar: Rs 700 per sq.ft (2024)
• Nethaji Nagar: Rs 1,200 per sq.ft (2024)
• New Ramanujar Nagar: Rs 1,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nazareth Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty, charged at 7%, would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000. Together, the total cost for these fees would be Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more information on calculating fees, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nazareth Nagar?

The Sub Registrar Office that covers Nazareth Nagar is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for additional details.

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

The guideline value plays a crucial role in property transactions in Sriperumbudur A. It is used to determine the stamp duty and registration fees applicable during the registration of property transactions. Buyers and sellers must be aware of this value to ensure they comply with legal requirements and avoid any penalties.

When a property is bought or sold, the guideline value is compared with the sale price. The higher of the two figures is used to calculate the applicable stamp duty and registration fees, ensuring that the government receives its due revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nazareth Nagar?

The current guideline value of Nazareth Nagar is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 1,200 per sq.ft from 2023 to 2024, and it increased by 49% from Rs 804 per sq.ft in 2017 to the current value.

What are the guideline values of other streets in Sriperumbudur A?

Other streets in Sriperumbudur A have varying guideline values, ranging from Rs 400 to Rs 3,000 per sq.ft, with a median value of Rs 700 per sq.ft.

What fees are associated with property transactions in Nazareth Nagar?

Property transactions in Nazareth Nagar incur stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Nazareth Nagar located?

The Sub Registrar Office for Nazareth Nagar is located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.