Guideline Value for N.S.K. Street

N.S.K. Street guideline value

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

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

The guideline value for N.S.K. Street has seen several revisions over the years. The earliest recorded figure is from 2003, which was Rs 133 per sq.ft. This value increased significantly to Rs 400 per sq.ft in 2007, marking a 201% rise. The value then jumped to Rs 1,500 per sq.ft in 2012, reflecting a 275% increase. However, it decreased to Rs 1,005 per sq.ft in 2017, a decline of 33%. The 2023 revision set the value at Rs 1,500 per sq.ft, followed by the current figure of Rs 1,650 per sq.ft from the 2024 revision, indicating a 10% increase.

There is no guideline value recorded for N.S.K. Street in 2002. Overall, from 2003 to 2024, the guideline value has increased by 1141%.

Guideline values in Puzhal

The guideline values for properties in Puzhal vary significantly, with 270 streets under the Redhills SRO carrying values ranging from Rs 1,100 to Rs 6,000 per sq.ft. The median value is Rs 1,102 per sq.ft, placing N.S.K. Street's 2024 figure above this median.

• Othavaadai Street: Rs 1,650 per sq.ft (2024)
• New Sakthivel Garden: Rs 1,100 per sq.ft (2024)
• New Mahaveer Garden: Rs 1,100 per sq.ft (2024)
• Padmanaba Nagar: Rs 1,100 per sq.ft (2024)
• Padma Nagar: Rs 1,100 per sq.ft (2024)
• Padmavathi Nagar: Rs 1,102 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 amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost 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.

For more details, 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Puzhal. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that the sale price is not lower than the guideline value to avoid complications during registration.

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 133 per sq.ft in 2003 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 1141% over this period.

What is the registration fee for properties in N.S.K. Street?

The registration fee is 2% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the registration fee would be Rs 33,000.

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

The Redhills Sub Registrar Office covers N.S.K. Street, located at Sothupakkam Road, Eswaran Koil Back Side, Theerthangiriyambattu, Redhills, Chennai - 600 052.

What is the median guideline value in Puzhal?

The median guideline value in Puzhal is Rs 1,102 per sq.ft, with N.S.K. Street's current value being above this median.