Guideline Value for N.S.C. Bose Street

N.S.C. Bose Street guideline value

The current guideline value of N.S.C. Bose Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Nesapakkam village under the Virugambakkam SRO, classified as Residential Class II Type - I.

How the guideline value of N.S.C. Bose Street has changed

The guideline value for N.S.C. Bose Street has undergone several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. Following this, the value increased to Rs 3,000 per sq.ft in 2023, and finally, it was revised to Rs 3,300 per sq.ft in 2024.

From 2012 to 2017, the value saw a decrease of 33%. However, from 2017 to 2023, there was a significant increase of 49%. The most recent change from 2023 to 2024 reflects a 10% increase. Overall, the guideline value has increased by 10% from 2012 to 2024.

Guideline values in Nesapakkam

Nesapakkam features 148 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,200 to Rs 7,150 per sq.ft. The median value is Rs 3,300 per sq.ft, placing N.S.C. Bose Street at this median level for 2024.

• Otrai Vadai Street: Rs 4,400 per sq.ft (2024)
• Pallavan Street: Rs 3,850 per sq.ft (2024)
• Navalar Nagar - Kamarajar Street & Lane: Rs 2,750 per sq.ft (2024)
• Navalar Nagar - Gandhi Street: Rs 2,750 per sq.ft (2024)
• Navalar Nagar - Annai Indhira Street: Rs 2,750 per sq.ft (2024)
• Navalar Nagar: Rs 2,750 per sq.ft (2024)

Stamp duty and registration fee for property in N.S.C. Bose Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers N.S.C. Bose Street?

The Sub Registrar Office that covers N.S.C. Bose Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions, as it determines the minimum value at which a property can be registered. When buying or selling property in Nesapakkam, the guideline value is used to calculate stamp duty and registration fees, ensuring that these costs are based on an official valuation.

During the registration process, buyers must pay the stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of N.S.C. Bose Street?

The current guideline value of N.S.C. Bose Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2012 to Rs 2,010 per sq.ft in 2017, then increased to Rs 3,000 per sq.ft in 2023, and finally to Rs 3,300 per sq.ft in 2024.

What is the stamp duty rate for properties in N.S.C. Bose Street?

The stamp duty rate for properties in N.S.C. Bose Street is 7% of the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for N.S.C. Bose Street?

The Sub Registrar Office for N.S.C. Bose Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification of N.S.C. Bose Street?

N.S.C. Bose Street is classified as Residential Class II Type - I, indicating its designation for residential use within the area.