Guideline Value for Nithyanantham Nagar

Nithyanantham Nagar guideline value

The current guideline value of Nithyanantham Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Tambaram village and falls under the Tambaram Joint 1 SRO. The land classification for this region is Residential Class I Type - I.

How the guideline value of Nithyanantham Nagar has changed

Since the 2007 revision, the guideline value has seen significant changes. The 2007 revision recorded a value of Rs 400 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 650%. However, from 2012 to 2017, the value decreased to Rs 2,010 per sq.ft, a drop of 33%. The 2017 revision then saw a substantial increase to Rs 3,000 per sq.ft in 2023, reflecting a 49% rise. The latest revision in 2024 has further increased the value to Rs 3,300 per sq.ft, a 10% increase from the previous year.

The revisions for the years 2002 and 2003 do not have any figures listed for Nithyanantham Nagar in the register. Overall, from 2007 to 2024, the guideline value has increased by 725%.

Guideline values in Tambaram

In Tambaram, there are 360 streets under the Tambaram Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 880 to Rs 8,250 per sq.ft. The median value is Rs 3,300 per sq.ft, which is equal to the guideline value of Nithyanantham Nagar.

• New State Bank Colony: Rs 5,500 per sq.ft (2024)
• Oil Mill Street: Rs 3,300 per sq.ft (2024)
• Old SBI Colony Road 1st Street: Rs 3,300 per sq.ft (2024)
• Old SBI Colony Road 2nd Street: Rs 3,300 per sq.ft (2024)
• Old SBI Colony Road 3rd Street: Rs 3,300 per sq.ft (2024)
• Old SBI Colony Road 4th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nithyanantham Nagar

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling Rs 2,97,000. 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 accurate calculations.

Which Sub Registrar Office covers Nithyanantham Nagar?

The Sub Registrar Office that covers Nithyanantham Nagar is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Tambaram

The guideline value is a crucial factor in the registration process when buying or selling property in Tambaram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

Frequently asked questions

What is the current guideline value of Nithyanantham Nagar?

The current guideline value of Nithyanantham Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 400 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 725% over this period.

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

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which Sub Registrar Office covers Nithyanantham Nagar?

The Tambaram Joint 1 Sub Registrar Office covers Nithyanantham Nagar, located at No.26, Mes Road, East Tambaram, Chennai-600059.

Where can I find more information about guideline values in Tambaram?

More information about guideline values in Tambaram can be found through the Registration Department's guideline value register or by visiting the Tambaram Joint 1 SRO.