Guideline Value for N.S.K. STREET

N.S.K. Street guideline value

The current guideline value of N.S.K. Street in Medavakkam village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class I Type - I.

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

Over the years, the guideline value for N.S.K. Street has undergone several revisions. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the value increased to Rs 2,000 per sq.ft in the 2023 revision, and finally, the current value is Rs 2,200 per sq.ft as of the 2024 revision. The register has no figures for the years 2002, 2003, and 2007.

From the 2012 revision to the 2017 revision, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, there has been a 10% increase in the guideline value.

Guideline values in Medavakkam

In Medavakkam, there are 379 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,540 to Rs 7,500 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the current guideline value of N.S.K. Street.

• Nila Nagar: Rs 2,750 per sq.ft (2024)
• Palam Avenue: Rs 2,200 per sq.ft (2024)
• Nethaji Street: Rs 2,750 per sq.ft (2024)
• Pallavan Street: Rs 1,870 per sq.ft (2024)
• Nehru Street: Rs 2,200 per sq.ft (2024)
• Pandiyan Street: Rs 1,870 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 rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

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

N.S.K. Street is covered by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Medavakkam. It determines the minimum value at which a property can be sold and is used to calculate the stamp duty and registration fees applicable during the sale 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 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

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

N.S.K. Street is classified as Residential Class I Type - I under the Chennai South Joint I SRO.

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

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000, and the registration fee would be Rs 44,000, totaling Rs 1,98,000.

Which office handles registrations for N.S.K. Street?

The registrations for N.S.K. Street are handled by the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.