Guideline Value for Nedunsalai Nagar

Nedunsalai Nagar guideline value

The current guideline value of Nedunsalai Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Mannivakkam village and falls under the Gooduvancheri SRO, with a land classification of Residential Special Type - I.

How the guideline value of Nedunsalai Nagar has changed

The guideline value for Nedunsalai Nagar has undergone several revisions over the years. The earliest recorded figure is from 2007, when the guideline value was Rs 250 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in 2012, marking a 300% rise. However, it then decreased to Rs 670 per sq.ft in 2017, a decline of 33%. The value saw a substantial increase to Rs 1,000 per sq.ft in 2023, followed by another rise to Rs 1,100 per sq.ft in 2024, reflecting a 10% increase.

In summary, from the 2007 revision to the 2024 revision, the guideline value has increased by 340%. There are no figures available for the years 2002 and 2003 in the register for this street.

Guideline values in Mannivakkam

In Mannivakkam, there are 118 streets under the Gooduvancheri SRO that carry a 2024 guideline value, ranging from Rs 330 to Rs 4,300 per sq.ft, with a median value of Rs 1,215 per sq.ft. The guideline value of Nedunsalai Nagar is below this median.

• Naresh Avenue: Rs 1,100 per sq.ft (2024)
• Nethaji Avenue: Rs 2,200 per sq.ft (2024)
• Nova Ncr: Rs 3,300 per sq.ft (2024)
• Muthukrishnan Nagar: Rs 990 per sq.ft (2024)
• Mudichur Road: Rs 2,750 per sq.ft (2024)
• Outer Ring Road: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Nedunsalai Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty is charged at 7%, which totals Rs 77,000, and the registration fee is 2%, amounting to Rs 22,000. Together, the total cost for stamp duty and registration fee would be Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nedunsalai Nagar?

The Nedunsalai Nagar area is covered by the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery - 603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Mannivakkam. It serves as a benchmark for determining the stamp duty and registration fees, which are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is recorded at a fair value, helping to maintain transparency in real estate dealings. Buyers and sellers should be aware of the current guideline value to understand their financial obligations during the registration process.

Frequently asked questions

What is the current guideline value of Nedunsalai Nagar?

The current guideline value of Nedunsalai Nagar is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, reflecting an overall increase of 340% over the years.

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

The stamp duty is 7% and the registration fee is 2% of the guideline value. For a 1,000 sq.ft plot at the current rate, the total stamp duty and registration fee would be Rs 99,000.

Which Sub Registrar Office covers Nedunsalai Nagar?

The Gooduvancheri Sub Registrar Office covers Nedunsalai Nagar, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvanchery - 603202, Chengalpattu registration zone.

What is the land classification of Nedunsalai Nagar?

Nedunsalai Nagar is classified as Residential Special Type - I, indicating its suitability for residential development.