Guideline Value for N.S.K. STREET

N.S.K. Street guideline value

The current guideline value of N.S.K. Street in Pallikaranai village is Rs 1,650 per sq.ft, effective from 1 July 2024. This street falls under the Chennai South Joint I SRO and is classified as Residential Class IV Type - I.

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

The guideline value of N.S.K. Street has seen several revisions over the years. In 2012, the value was set at Rs 1,500 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,500 per sq.ft in 2023, a rise of 49% from the previous revision. The most recent revision in 2024 has set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the 2023 figure.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for N.S.K. Street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

In Pallikaranai village, there are 749 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, which is equal to the current guideline value of N.S.K. Street.

• Om Sakthi Nagar: Rs 2,200 per sq.ft (2024)
• Om Sakthi Nagar Extn.: Rs 2,200 per sq.ft (2024)
• Paari Street Extension Shanthi Nagar: Rs 2,750 per sq.ft (2024)
• Padasalai Street: Rs 1,320 per sq.ft (2024)
• New Nagar: Rs 1,320 per sq.ft (2024)
• New Dass School: Rs 1,320 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 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. 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 specific calculations.

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 Pallikaranai

The guideline value is a crucial factor during the registration of property transactions in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees that are applicable to the property being bought or sold.

When a property is registered, the guideline value is used to calculate the necessary fees, ensuring that both buyers and sellers are aware of the financial implications of their transaction. This process helps maintain transparency and consistency in property dealings.

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 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

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

N.S.K. Street is classified as Residential Class IV Type - I.

Which Sub Registrar Office covers the area of N.S.K. Street?

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

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

Stamp duty for properties in N.S.K. Street is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 at a rate of 7%.