Guideline Value for N.S.K. STREET

N.S.K. Street guideline value

The current guideline value of N.S.K. Street in Vengathur village is Rs 700 per sq.ft, effective from 1 July 2024. This street falls under the Manavalanagar SRO and is classified as Residential Class II Type - I.

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

In the 2007 revision, the guideline value for N.S.K. Street was Rs 125 per sq.ft. This figure saw a significant increase in the 2012 revision, where it rose to Rs 700 per sq.ft, marking a change of +460%. However, in the 2017 revision, the value decreased to Rs 469 per sq.ft, a decline of -33%. The value remained at Rs 700 per sq.ft in both the 2023 and 2024 revisions, indicating no change from 2023 to 2024 and a notable increase of +49% from 2017 to 2023. The register has no figure for the years 2002 and 2003.

Guideline values in Vengathur

In Vengathur, there are 186 streets under the Manavalanagar SRO that carry a 2024 guideline value ranging from Rs 500 to Rs 2,000 per sq.ft. The median value for these streets is Rs 1,000 per sq.ft, which means N.S.K. Street's 2024 guideline value is below that median.

• Ondikuppam Poonamalle Salai 4 Adi Sandhu: Rs 2,000 per sq.ft (2024)
• Pachaiyappan Street: Rs 1,000 per sq.ft (2024)
• Pajanai Koil Street: Rs 1,000 per sq.ft (2024)
• Pallavan Street: Rs 1,300 per sq.ft (2024)
• Nehru Street (Kabilar Nagar): Rs 1,300 per sq.ft (2024)
• NEHRU STREET 3rd GURUKU STREET: Rs 1,300 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would amount to Rs 49,000, while the registration fee at 2% would be Rs 14,000. Together, these fees would total Rs 63,000. 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 details.

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

N.S.K. Street is covered by the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial component in the registration process of property transactions in Vengathur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling a property.

When a property is registered, the guideline value helps ensure that the transaction reflects the value of the property in the eyes of the government. This is essential for tax purposes and helps maintain transparency in real estate transactions.

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

How has the guideline value changed over the years?

The guideline value has seen various changes, starting from Rs 125 per sq.ft in 2007 to Rs 700 per sq.ft in 2012, then dropping to Rs 469 per sq.ft in 2017. It remained at Rs 700 per sq.ft in both 2023 and 2024.

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

N.S.K. Street is classified as Residential Class II Type - I under the Manavalanagar SRO.

What are the registration fees for properties in N.S.K. Street?

The registration fees include a stamp duty of 7% and a registration fee of 2% based on the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering N.S.K. Street is the Manavalanagar Sub Registrar Office, located at Thandalam Main Road, Nungambakkam Village, Manavalanagar-602002, Chennai registration zone.