Guideline Value for N.S.K. Street

N.S.K. Street guideline value

The current guideline value of N.S.K. Street is Rs 9,900 per sq.ft, effective from 1 July 2024. This street is located in Saligramam village under the Virugambakkam SRO, classified as Commercial Special 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. In 2002, the guideline value was Rs 527 per sq.ft. This increased to Rs 576 per sq.ft in 2003, marking a 9% rise. The value then rose by 48% to Rs 850 per sq.ft in 2007. A significant jump occurred in 2012 when the value reached Rs 9,000 per sq.ft, reflecting a 959% increase from the previous revision.

In 2017, the guideline value decreased to Rs 6,030 per sq.ft, a drop of 33%. The value then increased by 49% to Rs 9,000 per sq.ft in 2023, and finally, in 2024, it rose by 10% to the current value of Rs 9,900 per sq.ft. There are no figures available for the years not listed in the register for this street.

Guideline values in Saligramam

In Saligramam, there are 333 streets under the Virugambakkam SRO, with guideline values ranging from Rs 2,750 to Rs 13,200 per sq.ft as of 2024. The median value for the area is Rs 4,400 per sq.ft, placing N.S.K. Street's 2024 figure above this median.

• North Mada Street: Rs 3,850 per sq.ft (2024)
• N.G.O.Colony 3rd Street: Rs 4,400 per sq.ft (2024)
• N.G.O.Colony 2nd Street: Rs 4,400 per sq.ft (2024)
• N.G.O.Colony 1st Street: Rs 4,400 per sq.ft (2024)
• Palaniandavar Koil Sannadi Street: Rs 5,500 per sq.ft (2024)
• Palaniandavar Koil Street: Rs 5,500 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 9,900 per sq.ft, the guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, totaling Rs 8,91,000. 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?

The Sub Registrar Office that covers N.S.K. Street is the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Saligramam. It serves as a benchmark for determining the minimum value of a property, which is used to calculate the stamp duty and registration fees during the sale or purchase process.

When you register a property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the guideline value to understand the financial implications during the registration 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 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 527 in 2002 to Rs 9,900 in 2024, showing an overall increase of 1779% over the years.

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

N.S.K. Street is classified as Commercial Special Type - I, which indicates its intended use for commercial purposes.

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

The Virugambakkam Sub Registrar Office covers N.S.K. Street and is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

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 99,00,000, the stamp duty would be Rs 6,93,000 at 7%.