Guideline Value for Nemisanth Nagar

Nemisanth Nagar guideline value

The current guideline value for Nemisanth Nagar, located in Pasumpoor village under the Madurandakam SRO, is Rs 103 per sq.ft as per the 2024 revision effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Nemisanth Nagar has changed

The guideline value for Nemisanth Nagar has seen several revisions over the years. In 2007, the guideline value was Rs 30 per sq.ft, which increased significantly to Rs 70 per sq.ft in 2012. However, this value dropped to Rs 47 per sq.ft in 2017. From 2017 to 2023, there was a substantial increase of 113%, bringing the value to Rs 100 per sq.ft. The latest revision in 2024 has further increased this to Rs 103 per sq.ft, marking a 3% rise from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 243%.

Guideline values in Pasumpoor

In Pasumpoor village, four streets under the Madurandakam SRO have a guideline value of Rs 103 per sq.ft for 2024, which is also the median value for the area. This positions Nemisanth Nagar at the same rate as the median.

• Sathya Sai Saibaba Nagar: Rs 103 per sq.ft (2024)
• Sri Guberalakshmi Nagar: Rs 103 per sq.ft (2024)
• Abhi Avenue: Rs 103 per sq.ft (2024)

Stamp duty and registration fee for property in Nemisanth Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 103 per sq.ft, the total guideline value amounts to Rs 1,03,000. The stamp duty at 7% would be Rs 7,210, and the registration fee at 2% would be Rs 2,060, bringing the total cost for these charges to Rs 9,270. 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 accurate calculations based on your specific property details.

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 further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Pasumpoor. It is used to determine the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value serves as a benchmark for both parties. It helps in establishing a fair price for the transaction and ensures compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Nemisanth Nagar?

The current guideline value of Nemisanth Nagar is Rs 103 per sq.ft as per the 2024 revision effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 30 per sq.ft in 2007 to Rs 103 per sq.ft in 2024, marking an overall increase of 243% over the years.

What are the other streets in Pasumpoor with the same guideline value?

Other streets in Pasumpoor with a guideline value of Rs 103 per sq.ft for 2024 include Sathya Sai Saibaba Nagar, Sri Guberalakshmi Nagar, and Abhi Avenue.

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

For a property valued at Rs 1,03,000, the stamp duty would be Rs 7,210, and the registration fee would be Rs 2,060, totaling Rs 9,270.

Where can I find the Sub Registrar Office for Nemisanth Nagar?

The Sub Registrar Office for Nemisanth Nagar is located at No.53, Old Taluk Office Road, Maduranthakam-603306, Chengalpattu registration zone.