Guideline Value for Nesamani Nagar

Nesamani Nagar guideline value

The current guideline value of Nesamani Nagar, located in Chembakkam village, is Rs 3,800 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur Sub Registrar Office and is classified as Commercial Class I Type - I.

How the guideline value of Nesamani Nagar has changed

The guideline value for Nesamani Nagar has seen several revisions over the years. In 2012, the value was set at Rs 3,500 per sq.ft. This figure remained the same until the 2017 revision, which saw a decrease to Rs 2,345 per sq.ft. However, the value rebounded significantly in the 2023 revision to Rs 3,500 per sq.ft, before increasing again to Rs 3,800 per sq.ft in 2024.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. Following this, there was a substantial increase of 49% from 2017 to 2023. The guideline value then increased by 9% from 2023 to 2024, leading to an overall increase of 9% from 2012 to 2024. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,700 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, placing the 2024 figure for Nesamani Nagar above this median.

• Nesamani Nagar 1st Street: Rs 3,800 per sq.ft (2024)
• Nethaji 1st Street: Rs 2,700 per sq.ft (2024)
• Nethaji 2nd Cross Street: Rs 2,700 per sq.ft (2024)
• Nethaji 2nd Street: Rs 2,700 per sq.ft (2024)
• Nethaji Ist Cross Street: Rs 2,700 per sq.ft (2024)
• Nethaji Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nesamani Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value would be Rs 38,00,000. The stamp duty at 7% would amount to Rs 2,66,000, while the registration fee at 2% would be Rs 76,000, bringing the total to Rs 3,42,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nesamani Nagar?

Nesamani Nagar is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is an essential factor when buying or selling property in Chembakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is crucial for calculating the stamp duty and registration fees applicable to the transaction.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in property dealings. Buyers and sellers should be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Nesamani Nagar?

The current guideline value of Nesamani Nagar is Rs 3,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,500 per sq.ft in 2023 to Rs 3,800 per sq.ft in 2024, marking a 9% increase. It was Rs 2,345 per sq.ft in 2017 and Rs 3,500 per sq.ft in 2012.

What is the land classification of Nesamani Nagar?

Nesamani Nagar is classified as Commercial Class I Type - I, indicating its suitability for commercial activities.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated in Chembakkam?

Stamp duty in Chembakkam is calculated based on the higher of the guideline value or the sale price of the property. It is typically charged at 7% of the guideline value.