Guideline Value for N.S.K Salai

N.S.K Salai guideline value

The current guideline value of N.S.K Salai is Rs 350 per sq.ft, effective from 1 July 2024. This street is located in Vada Mangalam village, under the Sunguvarchattram SRO, and is classified as Residential Special Type - III.

How the guideline value of N.S.K Salai has changed

Looking back at the revisions, the guideline value for N.S.K Salai was Rs 350 per sq.ft in both 2023 and the upcoming 2024 revision. Prior to that, in 2017, the value was Rs 234 per sq.ft, showing a 50% increase over the six years. The 2012 revision also listed the value at Rs 350 per sq.ft, indicating a decrease of 33% from the 2017 figure.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has remained unchanged at Rs 350 per sq.ft.

Guideline values in Vada Mangalam

In Vada Mangalam, there are 23 streets under the Sunguvarchattram SRO with a 2024 guideline value ranging from Rs 200 to Rs 400 per sq.ft. The median value for these streets is Rs 250 per sq.ft, placing N.S.K Salai's value above this median.

• Narayana Nagar-II: Rs 350 per sq.ft (2024)
• Periyapallaiyathamman Kovil Street: Rs 200 per sq.ft (2024)
• Mooventhar Street: Rs 200 per sq.ft (2024)
• M.G.R Street: Rs 200 per sq.ft (2024)
• M.B.C Street: Rs 250 per sq.ft (2024)
• Kullakarai Street: Rs 200 per sq.ft (2024)

Stamp duty and registration fee for property in N.S.K Salai

For a 1,000 sq.ft plot at the current rate of Rs 350 per sq.ft, the guideline value amounts to Rs 3,50,000. The stamp duty at 7% would be Rs 24,500, and the registration fee at 2% would be Rs 7,000, totaling Rs 31,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers N.S.K Salai?

N.S.K Salai falls under the jurisdiction of the Sunguvarchattram Sub Registrar Office, located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value plays a crucial role during the registration of property transactions in Vada Mangalam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that these fees are calculated based on the official value set by the Registration Department.

When buying or selling property in this area, it is essential to refer to the guideline value to understand the financial implications of the transaction. This value helps both buyers and sellers to comply with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of N.S.K Salai?

The current guideline value of N.S.K Salai is Rs 350 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 350 per sq.ft in 2023 and 2024. It was Rs 234 per sq.ft in 2017, showing a 50% increase since then, while it was Rs 350 per sq.ft in 2012, indicating a decrease of 33% from 2017.

What is the land classification for N.S.K Salai?

N.S.K Salai is classified as Residential Special Type - III, which is relevant for determining the applicable regulations and guidelines in the area.

How is the stamp duty calculated for properties in N.S.K Salai?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 3,50,000 would incur a stamp duty of Rs 24,500.

Where can I find the Sub Registrar Office for N.S.K Salai?

The Sub Registrar Office covering N.S.K Salai is located at Vadivamal Nagar Kandigai Road Caparo Company Opp, Sunguvarchatram, Chengalpattu registration zone.