Guideline Value for Nithyasri Gardens

Nithyasri Gardens guideline value

The current guideline value of Nithyasri Gardens is Rs 3,800 per sq.ft, effective from 1 July 2024. This area is located in Chembakkam village under the Selaiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Nithyasri Gardens has changed

The guideline value for Nithyasri Gardens has seen significant changes over the years. In the 2017 revision, the guideline value was Rs 2,345 per sq.ft. The most recent revision in 2024 has increased this to Rs 3,800 per sq.ft, marking a change of +62% from the previous figure.

There are no figures available for the revisions in 2023, 2012, 2007, 2003, and 2002 for this street in the register.

Guideline values in Chembakkam

In Chembakkam, there are 472 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 6,700 per sq.ft. The median value is Rs 2,200 per sq.ft, placing Nithyasri Gardens' 2024 figure above this median.

• N.M.Grace Nagar: Rs 2,200 per sq.ft (2024)
• N.M.Gress Nagar 1st Street: Rs 2,200 per sq.ft (2024)
• N.M.Gress Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• N.M. Parvathipuram: Rs 2,700 per sq.ft (2024)
• N.M. Parvathypuram 1st Street: Rs 2,700 per sq.ft (2024)
• N.M. Parvathypuram 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nithyasri Gardens

For a 1,000 sq.ft plot at the current guideline value of Rs 3,800 per sq.ft, the total guideline value amounts to Rs 38,00,000. The stamp duty at 7% would be Rs 2,66,000, and the registration fee at 2% would be Rs 76,000, totaling Rs 3,42,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nithyasri Gardens?

The Nithyasri Gardens area 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 a crucial factor during property registration in Chembakkam. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable to the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value. It is essential for buyers and sellers to be aware of the current guideline value to understand the costs involved in the registration process.

Frequently asked questions

What is the current guideline value of Nithyasri Gardens?

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

How much has the guideline value changed over the years?

Since the 2017 revision, the guideline value has increased from Rs 2,345 per sq.ft to Rs 3,800 per sq.ft in 2024, representing a change of +62%.

Which Sub Registrar Office covers Nithyasri Gardens?

The Selaiyur Sub Registrar Office covers Nithyasri Gardens, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What are the stamp duty and registration fees for property in Nithyasri Gardens?

For a property valued at Rs 38,00,000, the stamp duty would be Rs 2,66,000 and the registration fee would be Rs 76,000, totaling Rs 3,42,000.

What is the land classification of Nithyasri Gardens?

Nithyasri Gardens is classified as Commercial Class I Type - I, which affects the guideline value and potential usage of the property.