Guideline Value for N.K.Commerical Corpration

N.K.Commerical Corpration guideline value

The current guideline value for N.K.Commerical Corpration is Rs 1,700 per sq.ft, effective from 1 July 2024. This property is located in Sholinganallur - 1 village under the Neelankarai SRO, classified as Residential Class IV Type - I.

How the guideline value of N.K.Commerical Corpration has changed

The guideline value for N.K.Commerical Corpration has undergone several revisions over the years. Starting from the 2017 revision, the guideline value was Rs 1,005 per sq.ft, which increased to Rs 1,500 per sq.ft in 2023, marking a significant rise of 49%. The latest revision in 2024 raised the value further to Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year.

Overall, from 2017 to 2024, the guideline value has increased by 69%. The register does not have figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Sholinganallur - 1

In Sholinganallur - 1, there are 754 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 8,800 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing N.K.Commerical Corpration's 2024 figure below that median.

• N.M.Balakrishnan Street: Rs 2,200 per sq.ft (2024)
• New Street: Rs 2,200 per sq.ft (2024)
• New Kumaran Nagar (Near Canal): Rs 3,300 per sq.ft (2024)
• New Kumaran Nagar Main Road (Near Canal): Rs 3,300 per sq.ft (2024)
• NEW KUMARAN NAGAR 9th CROSS STREET: Rs 3,300 per sq.ft (2024)
• NEW KUMARAN NAGAR 8th CROSS STREET: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in N.K.Commerical Corpration

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, leading to a total of Rs 1,53,000. 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 more information.

Which Sub Registrar Office covers N.K.Commerical Corpration?

The N.K.Commerical Corpration falls under the Neelankarai Sub Registrar Office located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for further details.

How the guideline value is used when you buy or sell in Sholinganallur - 1

The guideline value is a crucial factor in the registration process of property transactions in Sholinganallur - 1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state collects appropriate stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is important to note that the duty is charged based on the higher of the guideline value and the actual sale price.

Frequently asked questions

What is the current guideline value for N.K.Commerical Corpration?

The current guideline value for N.K.Commerical Corpration is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen increases from Rs 1,005 per sq.ft in 2017 to Rs 1,500 per sq.ft in 2023, and then to Rs 1,700 per sq.ft in 2024.

What is the land classification for N.K.Commerical Corpration?

N.K.Commerical Corpration is classified as Residential Class IV Type - I.

Where can I find the registration office for N.K.Commerical Corpration?

The registration office for N.K.Commerical Corpration is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai.

How is the stamp duty calculated for property in N.K.Commerical Corpration?

The stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 17,00,000, the stamp duty would be Rs 1,19,000 at 7%.