Guideline Value for Nithiyanandam Nagar 2-nd St

Nithiyanandam Nagar 2-nd St guideline value

The current guideline value of Nithiyanandam Nagar 2-nd St is Rs 2,530 per sq.ft, effective from 1 July 2024. This street is located in Irumpuliyur village, under the Tambaram Joint 1 SRO, with a land classification of Residential Special Type - I.

How the guideline value of Nithiyanandam Nagar 2-nd St has changed

The guideline value for Nithiyanandam Nagar 2-nd St has seen several revisions over the years. In 2007, the guideline value was Rs 500 per sq.ft, which increased significantly to Rs 2,300 per sq.ft by 2012. However, it then decreased to Rs 1,541 per sq.ft in 2017. The value rose again to Rs 2,300 per sq.ft in 2023, and currently stands at Rs 2,530 per sq.ft as of the 2024 revision. The register does not have figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%. The jump from 2012 to 2017 saw a decrease of 33%, while the increase from 2007 to 2012 was a remarkable 360%. Overall, from 2007 to 2024, the guideline value has increased by 406%.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Nithiyanandam Nagar 2-nd St above this median.

• Nithiyanandam Nagar 1-st St: Rs 2,530 per sq.ft (2024)
• Nithiyanandam Nagar 3-rd St: Rs 2,530 per sq.ft (2024)
• Nithiyanandam Nagar 4-th St: Rs 2,530 per sq.ft (2024)
• Nithiyanandam Nagar Main Road: Rs 2,530 per sq.ft (2024)
• N.K.Lane: Rs 1,650 per sq.ft (2024)
• North Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nithiyanandam Nagar 2-nd St

For a 1,000 sq.ft plot at the current guideline value of Rs 2,530 per sq.ft, the total guideline value amounts to Rs 25,30,000. The stamp duty at 7% would be Rs 1,77,100, and the registration fee at 2% would be Rs 50,600, bringing the total costs together to Rs 2,27,700. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nithiyanandam Nagar 2-nd St?

The Nithiyanandam Nagar 2-nd St falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Irumpuliyur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory costs associated with the transaction.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements during the registration process. This helps in determining the financial obligations involved in the transfer of property ownership.

Frequently asked questions

What is the current guideline value of Nithiyanandam Nagar 2-nd St?

The current guideline value of Nithiyanandam Nagar 2-nd St is Rs 2,530 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 500 per sq.ft in 2007 to Rs 2,530 per sq.ft in 2024, showing an overall increase of 406% over the years.

What is the land classification for Nithiyanandam Nagar 2-nd St?

Nithiyanandam Nagar 2-nd St is classified as Residential Special Type - I.

What are the stamp duty and registration fees for property transactions?

The stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value or sale price.

Which office handles the registration for Nithiyanandam Nagar 2-nd St?

The registration for Nithiyanandam Nagar 2-nd St is handled by the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059.