Guideline Value for Neminathan Nagar

Neminathan Nagar guideline value

The current guideline value of Neminathan Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024. This locality is situated in Mudichur village and falls under the Padappai SRO, classified as Residential Class I Type - I.

How the guideline value of Neminathan Nagar has changed

Over the years, the guideline value of Neminathan Nagar has seen several revisions. The most recent revision in 2024 set the value at Rs 1,760 per sq.ft, which reflects a 10% increase from Rs 1,600 per sq.ft in 2023. Prior to that, in 2017, the value was Rs 1,072 per sq.ft, marking a significant increase of 49% over the six years leading up to 2023. The 2012 revision also recorded a value of Rs 1,600 per sq.ft, indicating a decrease of 33% from 2017.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, comparing the figures from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Mudichur

Mudichur village has a total of 135 streets under the Padappai SRO, with guideline values for 2024 ranging from Rs 880 to Rs 4,000 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Neminathan Nagar's 2024 guideline value below this median.

• Nehru Street: Rs 1,210 per sq.ft (2024)
• Nethaji Nagar: Rs 1,210 per sq.ft (2024)
• Nethaji Street: Rs 1,210 per sq.ft (2024)
• Nehru Colony: Rs 1,210 per sq.ft (2024)
• Navab Abibulla Nagar: Rs 3,630 per sq.ft (2024)
• Ooratchi Mandra Street: Rs 1,210 per sq.ft (2024)

Stamp duty and registration fee for property in Neminathan Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Neminathan Nagar?

Neminathan Nagar falls under the jurisdiction of the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value is a crucial reference point for property transactions in Mudichur. It is used to determine the stamp duty and registration fees that must be paid during the registration of property transactions.

When buying or selling property, the guideline value ensures that the transaction is registered at a fair value, helping to maintain transparency in property dealings. Buyers and sellers should be aware of these values to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Neminathan Nagar?

The current guideline value of Neminathan Nagar is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,760 per sq.ft in 2024, a 10% increase. It was Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012, showing various fluctuations over the years.

What is the median guideline value for streets in Mudichur?

The median guideline value for streets in Mudichur is Rs 2,200 per sq.ft for 2024. Neminathan Nagar's guideline value is below this median.

What are the stamp duty and registration fees for properties in Neminathan Nagar?

For a property valued at Rs 17,60,000, the stamp duty would be Rs 1,23,200 and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles property registration for Neminathan Nagar?

The Padappai Sub Registrar Office handles property registration for Neminathan Nagar, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.