Guideline Value for N.S.K Street

N.S.K Street guideline value

The current guideline value of N.S.K Street in Grandlyon village is Rs 880 per sq.ft, effective from 1 July 2024. This street falls under the Redhills Sub Registrar Office (SRO) and is classified as Residential Special Type - I.

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

The guideline value for N.S.K Street has seen significant changes over the years. The 2017 revision set the value at Rs 536 per sq.ft. By 2023, this figure increased to Rs 800 per sq.ft, marking a change of 49%. The most recent 2024 revision has further raised the guideline value to Rs 880 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. It is important to note that the register has no figures for this street for the years 2002, 2003, 2007, and 2012.

Guideline values in Grandlyon

In Grandlyon, there are 82 streets under the Redhills SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 1,500 per sq.ft. The median value for these streets is Rs 660 per sq.ft, positioning N.S.K Street's 2024 figure above this median.

• N.V.N. Somu Street: Rs 660 per sq.ft (2024)
• New Star City Diamond Annex: Rs 880 per sq.ft (2024)
• New Star City Diamond: Rs 515 per sq.ft (2024)
• New Star City: Rs 585 per sq.ft (2024)
• Paramasivam Street: Rs 660 per sq.ft (2024)
• Naalvar Nagar: Rs 660 per sq.ft (2024)

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

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value would be Rs 8,80,000. The stamp duty would amount to Rs 61,600 at a rate of 7%, and the registration fee would be Rs 17,600 at a rate of 2%. Together, the total cost for these fees would be Rs 79,200. 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.S.K Street?

The Sub Registrar Office that covers N.S.K Street is the Redhills Sub Registrar Office, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052. You can find your SRO for more details.

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

The guideline value is a critical factor when registering property transactions in Grandlyon. It serves as a benchmark for determining the stamp duty and registration fees applicable to property sales and purchases.

When a property is bought or sold, the guideline value is used to calculate the associated fees, ensuring that both buyers and sellers are aware of the financial implications of their transactions. It is essential for all parties involved to understand the guideline value to facilitate a smooth registration process.

Frequently asked questions

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

The current guideline value of N.S.K Street is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 536 per sq.ft in 2017 to Rs 800 per sq.ft in 2023, and now to Rs 880 per sq.ft in 2024. This represents a total increase of 64% from 2017 to 2024.

What is the median guideline value for streets in Grandlyon?

The median guideline value for the 82 streets in Grandlyon is Rs 660 per sq.ft. N.S.K Street's current value is above this median.

What are the stamp duty and registration fees for a property in N.S.K Street?

For a property valued at Rs 8,80,000, the stamp duty would be Rs 61,600 and the registration fee would be Rs 17,600, totaling Rs 79,200. These fees are based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for N.S.K Street?

The Redhills Sub Registrar Office is responsible for the registration of properties in N.S.K Street. It is located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.