Guideline Value for N.S.K 1st STREET

N.S.K 1st STREET guideline value

The current guideline value of N.S.K 1st STREET is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, with a land classification of Residential Class III Type - II.

How the guideline value of N.S.K 1st STREET has changed

The guideline value for N.S.K 1st STREET has seen several revisions over the years. The earliest recorded value is from 2003, at Rs 461 per sq.ft, which increased to Rs 550 per sq.ft in 2007. The value then surged to Rs 2,500 per sq.ft in 2012, followed by a decrease to Rs 1,675 per sq.ft in 2017. The 2023 revision set the value at Rs 2,500 per sq.ft, and the latest revision in 2024 raised it to Rs 2,700 per sq.ft, marking an 8% increase from the previous year.

From 2017 to 2023, the value increased by 49%. Notably, the value jumped significantly from Rs 550 per sq.ft in 2007 to Rs 2,500 per sq.ft in 2012, reflecting a 355% rise. Overall, from 2003 to 2024, the guideline value has increased by 486%. The register has no figure for the year 2002 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median value is Rs 2,700 per sq.ft, which is the same as the current guideline value for N.S.K 1st STREET.

• N.S.K 2nd STREET: Rs 2,700 per sq.ft (2024)
• N.S.K STREET: Rs 2,700 per sq.ft (2024)
• Old Vazhai Managar: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar Main Road: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 9th Street: Rs 2,700 per sq.ft (2024)
• New Vazhaima Nagar 8th Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in N.S.K 1st STREET

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, resulting in a total of Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers N.S.K 1st STREET?

The Sub Registrar Office that covers N.S.K 1st STREET is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value is compared with the sale price. The higher of the two values is used to calculate the applicable stamp duty and registration fees. This process helps maintain transparency and fairness in property transactions.

Frequently asked questions

What is the current guideline value of N.S.K 1st STREET?

The current guideline value of N.S.K 1st STREET is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 461 per sq.ft in 2003 to Rs 2,700 per sq.ft in 2024, showing an overall increase of 486% over the years.

What is the stamp duty rate for properties in N.S.K 1st STREET?

The stamp duty rate for properties in N.S.K 1st STREET is 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for N.S.K 1st STREET located?

The Sub Registrar Office for N.S.K 1st STREET is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification for N.S.K 1st STREET?

The land classification for N.S.K 1st STREET is Residential Class III Type - II.