Guideline Value for Nemisanth Nagar

Nemisanth Nagar guideline value

The current guideline value of Nemisanth Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area falls under Kunnavakkam village, within the jurisdiction of the Madurandakam SRO. The land classification for this locality is Residential Class I Type - I.

How the guideline value of Nemisanth Nagar has changed

The guideline value of Nemisanth Nagar has seen several revisions over the years. The 2007 revision set the value at Rs 30 per sq.ft, which increased to Rs 50 per sq.ft in 2012. However, this was followed by a decrease to Rs 33 per sq.ft in 2017. The most significant change occurred between the 2017 and 2023 revisions, where the value surged to Rs 100 per sq.ft, reflecting a 203% increase. The 2024 revision maintains this value at Rs 100 per sq.ft, showing no change from the previous year.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 233%.

Guideline values in Kunnavakkam

Currently, there are no specific guideline values provided for other streets in Kunnavakkam under the Madurandakam SRO.

Stamp duty and registration fee for property in Nemisanth Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nemisanth Nagar?

The Sub Registrar Office that covers Nemisanth Nagar is the Madurandakam Sub Registrar Office, located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kunnavakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that all transactions comply with the legal requirements set by the government.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. Understanding these values can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Nemisanth Nagar?

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

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 30 per sq.ft in 2007 to Rs 100 per sq.ft in 2024, marking an overall increase of 233% since 2007.

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

For a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 and the registration fee would be Rs 2,000, totaling Rs 9,000.

Which office handles property registrations in Nemisanth Nagar?

The Madurandakam Sub Registrar Office handles property registrations in Nemisanth Nagar, located at No.53, Old Taluk Office Road, Maduranthakam-603306.

Are there other streets in Kunnavakkam with guideline values?

Currently, there are no specific guideline values provided for other streets in Kunnavakkam under the Madurandakam SRO.