Guideline Value for N.S.K. STREET

N.S.K. Street guideline value

The current guideline value of N.S.K. Street in Chitthalapakkam village is Rs 2,900 per sq.ft, effective from 1 July 2024. This area falls under the Selaiyur Sub Registrar Office (SRO) and is classified as Industries Type - I.

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

Over the years, the guideline value of N.S.K. Street has seen several revisions. The 2012 revision set the value at Rs 2,700 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 1,809 per sq.ft. The 2023 revision increased the value to Rs 2,700 per sq.ft, and the most recent 2024 revision has further raised it to Rs 2,900 per sq.ft, marking a 7% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 7%.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, which aligns with the guideline value of N.S.K. Street.

• Ottiambakkam Sithalapakkam Main Road: Rs 3,300 per sq.ft (2024)
• Nethaji Street: Rs 2,400 per sq.ft (2024)
• Palm Avenue: Rs 3,300 per sq.ft (2024)
• Palm Avenue Extension: Rs 3,300 per sq.ft (2024)
• Nagalakshmi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Nagalakshmi Nagar: Rs 3,300 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 2,900 per sq.ft, the total guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total cost to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use our stamp duty and registration fee calculator for more detailed calculations.

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

The Sub Registrar Office that covers N.S.K. Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. To find your SRO, you can visit this link.

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

The guideline value is a critical factor in the registration process of property transactions in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency and fairness in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are essential components of the transaction. This ensures that all parties are aware of the financial obligations involved in the property transfer 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 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2023 to Rs 2,900 per sq.ft in 2024, which is a 7% increase. It was Rs 1,809 per sq.ft in 2017 and Rs 2,700 per sq.ft in 2012.

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

N.S.K. Street is classified as Industries Type - I, indicating its suitability for industrial purposes.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

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

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 29,00,000, the stamp duty at 7% would amount to Rs 2,03,000.