Guideline Value for N.K.S. NAGAR MAIN ROAD

N.K.S. Nagar Main Road guideline value

The current guideline value of N.K.S. Nagar Main Road is Rs 1,700 per sq.ft, effective from 1 July 2024. This road is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - III.

How the guideline value of N.K.S. Nagar Main Road has changed

The guideline value for N.K.S. Nagar Main Road has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2023, and then to Rs 1,700 per sq.ft in 2024, marking a 13% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%, while the overall change from 2012 to 2024 reflects a 13% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO, with guideline values ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median value for these streets is Rs 1,700 per sq.ft, which is equal to the current guideline value of N.K.S. Nagar Main Road.

• N.K.S. NAGAR 3rd CROSS STREET: Rs 1,700 per sq.ft (2024)
• N.K.S. NAGAR 2nd CROSS STREET: Rs 1,700 per sq.ft (2024)
• N.K.S. Nagar: Rs 1,700 per sq.ft (2024)
• Oak Wood: Rs 3,000 per sq.ft (2024)
• Old Mahabalipuram Road: Rs 8,500 per sq.ft (2024)
• Nehru Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in N.K.S. Nagar Main Road

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, bringing the total to Rs 1,53,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers N.K.S. Nagar Main Road?

The N.K.S. Nagar Main Road is covered by 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 more details.

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

The guideline value serves as a benchmark for property transactions in Karapakkam, determining the minimum value at which properties can be registered. It is essential for buyers and sellers to be aware of this value, as it affects the stamp duty and registration fees applicable during the transaction.

When you buy or sell a property, the guideline value is used to calculate the stamp duty and registration fees, ensuring that the transaction is recorded accurately and legally. This value is crucial for both parties involved, as it impacts the overall cost of the property transaction.

Frequently asked questions

What is the current guideline value of N.K.S. Nagar Main Road?

The current guideline value of N.K.S. Nagar Main Road 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What is the land classification for N.K.S. Nagar Main Road?

N.K.S. Nagar Main Road is classified as Residential Class II Type - III.

Where can I find the Neelankarai Sub Registrar Office?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

How is the stamp duty calculated for properties in N.K.S. Nagar Main Road?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at the current rate, the total guideline value is Rs 17,00,000, leading to a stamp duty of Rs 1,19,000.