Guideline Value for Nisha Nagar Extn

Nisha Nagar Extn guideline value

The current guideline value of Nisha Nagar Extn, located in Madambakkam village under the Gooduvancheri SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. The land classification for this area is Commercial Special Type - I.

How the guideline value of Nisha Nagar Extn has changed

The guideline value for Nisha Nagar Extn has seen several revisions over the years. In 2007, the value was Rs 245 per sq.ft, which increased significantly to Rs 1,200 per sq.ft in 2012. However, the value dropped to Rs 804 per sq.ft in 2017. Following this, there was a substantial increase to Rs 1,200 per sq.ft in both 2023 and 2024, indicating no change between these two years.

Notably, there are no figures available for the revisions in 2002 and 2003 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 390%.

Guideline values in Madambakkam

In Madambakkam, there are 110 streets under the Gooduvancheri SRO with a 2024 guideline value range from Rs 800 to Rs 2,000 per sq.ft. The median value is Rs 1,200 per sq.ft, placing Nisha Nagar Extn at this median rate.

• Nisha Nagar: Rs 1,200 per sq.ft (2024)
• Om Vasan Nagar: Rs 1,200 per sq.ft (2024)
• Padbanaban Avenue: Rs 1,201 per sq.ft (2024)
• Pandian Avenue: Rs 1,200 per sq.ft (2024)
• Pearl Enclave: Rs 1,200 per sq.ft (2024)
• Mohan Avenue: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nisha Nagar Extn

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, and the registration fee at 2% would be Rs 24,000, leading to a total of Rs 1,08,000. 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 Nisha Nagar Extn?

The Nisha Nagar Extn 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 Madambakkam

The guideline value is a crucial factor during the registration process of property transactions in Madambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in assessing the official value of the property, which is essential for legal documentation and compliance with local regulations. This value is used to calculate the applicable taxes and fees, making it an important aspect of real estate transactions.

Frequently asked questions

What is the current guideline value of Nisha Nagar Extn?

The current guideline value of Nisha Nagar Extn is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 245 per sq.ft in 2007 to Rs 1,200 per sq.ft in 2024, marking an overall increase of 390% over this period.

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

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which Sub Registrar Office covers Nisha Nagar Extn?

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

What is the land classification for Nisha Nagar Extn?

The land classification for Nisha Nagar Extn is Commercial Special Type - I, indicating its suitability for commercial activities.