Guideline Value for DR. NAIR ROAD

Dr. Nair Road guideline value

The current guideline value of Dr. Nair Road is Rs 22,000 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village under the Thiyagaraya nagar SRO, and the land classification is Commercial Special Type - II.

How the guideline value of Dr. Nair Road has changed

The guideline value for Dr. Nair Road has seen significant changes over the years. In the 2002 revision, the value was Rs 1,943 per sq.ft. This increased to Rs 2,157 per sq.ft in 2003, marking an 11% rise. The value then rose to Rs 4,168 per sq.ft in 2007, which was a substantial increase of 93%. Following that, the 2017 revision set the value at Rs 13,400 per sq.ft, reflecting a remarkable 221% increase from the previous revision. The 2023 revision saw the value rise to Rs 20,000 per sq.ft, a 49% increase from 2017.

The most recent revision in 2024 has set the guideline value at Rs 22,000 per sq.ft, which is a 10% increase from the 2023 figure. It is important to note that the register has no figure for this street in the 2012 revision.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO with a 2024 guideline value ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Dr. Nair Road's 2024 value above this median.

• Drivers Colony: Rs 4,400 per sq.ft (2024)
• Dr. Sadasivam Street: Rs 13,200 per sq.ft (2024)
• Dr. Sambasivarm Street: Rs 14,300 per sq.ft (2024)
• Dr. Singaravelu Street: Rs 6,600 per sq.ft (2024)
• Dr. Thomas Road: Rs 14,300 per sq.ft (2024)
• Dr. Thomas Road 2 Lane: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Dr. Nair Road

For a 1,000 sq.ft plot at the current rate of Rs 22,000 per sq.ft, the guideline value amounts to Rs 2,20,00,000. The stamp duty at 7% would be Rs 15,40,000, and the registration fee at 2% would be Rs 4,40,000, totaling Rs 19,80,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Dr. Nair Road?

The Sub Registrar Office that covers Dr. Nair Road is the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a crucial factor during property registration in Tnagar. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property transactions. Buyers and sellers must be aware of the current guideline value to accurately assess their costs during the buying or selling process.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used for calculating the stamp duty. This ensures that the transaction reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value of Dr. Nair Road?

The current guideline value of Dr. Nair Road is Rs 22,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 1,943 per sq.ft in 2002 to Rs 22,000 per sq.ft in 2024, with various revisions marking substantial percentage changes.

What is the land classification of Dr. Nair Road?

Dr. Nair Road is classified as Commercial Special Type - II, which indicates its usage for commercial purposes.

Where can I find the Sub Registrar Office for Dr. Nair Road?

The Thiyagaraya nagar Sub Registrar Office covers Dr. Nair Road, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties in Tnagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. It is essential for buyers and sellers to be aware of the current guideline value to accurately compute their costs during a transaction.