Guideline Value for N S K Street

N S K Street guideline value

The current guideline value of N S K Street is Rs 3,900 per sq.ft, effective from 1 July 2024. This street is located in Ullagaram village and falls under the Alandur SRO, classified as Residential Class I Type - III.

How the guideline value of N S K Street has changed

Since the 2002 revision, the guideline value for N S K Street has seen significant changes. The value started at Rs 172 per sq.ft in 2002 and rose to Rs 193 per sq.ft in 2003, marking a 12% increase. The value then surged dramatically to Rs 1,200 per sq.ft in 2007, reflecting a 522% increase. Following this, the guideline value decreased to Rs 3,500 per sq.ft in 2012, a reduction of 33%. In 2017, the value increased to Rs 2,345 per sq.ft, which was a 49% rise from the previous revision. The 2023 revision set the value at Rs 3,500 per sq.ft, the same as in 2012, before the latest revision in 2024 raised it to Rs 3,900 per sq.ft, an increase of 11%.

Overall, from 2002 to 2024, the guideline value has increased by 2,167%, reflecting the cumulative changes over the years.

Guideline values in Ullagaram

In Ullagaram, there are 298 streets under the Alandur SRO with a 2024 guideline value ranging from Rs 1,700 to Rs 5,500 per sq.ft. The median guideline value for these streets is Rs 2,800 per sq.ft, placing N S K Street's 2024 figure above this median.

• New Narmada Nagar main: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar 4th Street: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar 3rd Street: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar 2nd Street: Rs 2,800 per sq.ft (2024)
• New Narmada Nagar 1st Street: Rs 2,800 per sq.ft (2024)
• Nethaji Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in N S K Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,900 per sq.ft, the total guideline value would be Rs 39,00,000. The stamp duty at 7% would amount to Rs 2,73,000, and the registration fee at 2% would be Rs 78,000, making the total cost for these fees Rs 3,51,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers N S K Street?

The Sub Registrar Office that covers N S K Street is the Alandur Sub Registrar Office, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process for property transactions in Ullagaram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and compliance with local regulations.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, based on the established guideline values for the area.

Frequently asked questions

What is the current guideline value of N S K Street?

The current guideline value of N S K Street is Rs 3,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 172 per sq.ft in 2002 to Rs 3,900 per sq.ft in 2024, reflecting a total increase of 2,167% over the years.

What are the stamp duty and registration fees for properties in N S K Street?

For a property valued at Rs 39,00,000, the stamp duty would be Rs 2,73,000 and the registration fee would be Rs 78,000, totaling Rs 3,51,000.

Which office handles the registration for N S K Street?

The Alandur Sub Registrar Office handles the registration for N S K Street, located at 12 Ist Main Road, Nanganallur Co-operative Society Lt, Nanganallur, Chennai-600061.

What is the land classification of N S K Street?

N S K Street is classified as Residential Class I Type - III, indicating its suitability for residential developments.