Guideline Value for Nivethitha Nagar Extension

Nivethitha Nagar Extension guideline value

The current guideline value of Nivethitha Nagar Extension is Rs 1,100 per sq.ft, effective from 1 July 2024. This area is located in Pazhanthandalam village under the Padappai SRO, classified as Residential Special Type - I.

How the guideline value of Nivethitha Nagar Extension has changed

The guideline value for Nivethitha Nagar Extension has undergone several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,000 per sq.ft. In 2017, it decreased to Rs 670 per sq.ft, a change of -33%. The value then increased significantly to Rs 1,000 per sq.ft in 2012, followed by a substantial rise to Rs 1,000 per sq.ft in 2023. The most recent revision in 2024 shows an increase to Rs 1,100 per sq.ft, marking a 10% rise from the previous year.

Between 2017 and 2023, there was a remarkable increase of 49%. Overall, from 2012 to 2024, the guideline value has seen a net increase of 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Pazhanthandalam

Pazhanthandalam village has 57 streets listed under the Padappai SRO, with guideline values ranging from Rs 440 to Rs 1,980 per sq.ft. The median guideline value is Rs 1,100 per sq.ft, which is the same as the current value for Nivethitha Nagar Extension.

• Nivedhidha Nagar: Rs 1,100 per sq.ft (2024)
• New Portia: Rs 1,100 per sq.ft (2024)
• Orr Diamond Avenue: Rs 1,760 per sq.ft (2024)
• Nethaji Nagar: Rs 1,100 per sq.ft (2024)
• Nadesanar Street: Rs 1,100 per sq.ft (2024)
• Pazhanthandalam Main Road: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nivethitha Nagar Extension

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty is calculated at 7%, which equals Rs 77,000, and the registration fee at 2% amounts to Rs 22,000. Therefore, the total cost for stamp duty and registration fees together is Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nivethitha Nagar Extension?

The Sub Registrar Office that covers Nivethitha Nagar Extension is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pazhanthandalam. It serves as the basis for calculating the stamp duty and registration fees, ensuring that all transactions are conducted fairly and transparently.

When a property is registered, the guideline value is compared with the sale price, and the higher amount is used for calculating the applicable duties. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nivethitha Nagar Extension?

The current guideline value of Nivethitha Nagar Extension is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification for Nivethitha Nagar Extension?

Nivethitha Nagar Extension is classified as Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Padappai Sub Registrar Office?

The Padappai Sub Registrar Office is located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

How is the stamp duty calculated for properties in Nivethitha Nagar Extension?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a property valued at Rs 11,00,000 would incur a stamp duty of Rs 77,000 at 7% and a registration fee of Rs 22,000 at 2%.