Guideline Value for N.S.K.Street

N.S.K.Street guideline value

The current guideline value of N.S.K.Street in Padappai village, under the Padappai SRO, is Rs 830 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

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

The guideline value for N.S.K.Street has undergone several revisions over the years. In 2003, the guideline value was Rs 30 per sq.ft, which increased to Rs 85 per sq.ft in 2007. The value saw a significant rise of 782% to reach Rs 750 per sq.ft in 2012. However, it then decreased by 33% to Rs 502 per sq.ft in 2017. The 2023 revision set the value at Rs 750 per sq.ft, and the most recent revision in 2024 has raised it to Rs 830 per sq.ft, marking an increase of 11% from the previous year.

Overall, from 2003 to 2024, the guideline value has increased by 2667%. The register has no figure for N.S.K.Street for the year 2002.

Guideline values in Padappai

In Padappai, there are 146 streets under the Padappai SRO carrying a 2024 guideline value ranging from Rs 440 to Rs 4,000 per sq.ft. The median guideline value is Rs 830 per sq.ft, which is equal to the current figure for N.S.K.Street.

• Officers Colony: Rs 830 per sq.ft (2024)
• Om Shakthi Nagar: Rs 830 per sq.ft (2024)
• Om Shakthi Nagar Phase II: Rs 830 per sq.ft (2024)
• N.G.O. Colony: Rs 1,320 per sq.ft (2024)
• Ottirai Vadai Street: Rs 830 per sq.ft (2024)
• Nethaji Nagar: Rs 3,300 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 830 per sq.ft, the total guideline value would be Rs 8,30,000. The stamp duty at 7% would amount to Rs 58,100, and the registration fee at 2% would be Rs 16,600, bringing the total to Rs 74,700. 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?

The Sub Registrar Office that covers N.S.K.Street is the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Padappai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of a property.

When you buy or sell property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies 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 830 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 30 per sq.ft in 2003 to Rs 830 per sq.ft in 2024, reflecting an overall increase of 2667% over the years.

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

For a property valued at Rs 8,30,000, the stamp duty would be Rs 58,100 and the registration fee would be Rs 16,600, totaling Rs 74,700.

Which office handles the registration for N.S.K.Street?

The registration for N.S.K.Street is handled by the Padappai Sub Registrar Office, located at 3/158, Pushpagiri Main Rd, Padappai - 601 301, Chennai registration zone.

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

N.S.K.Street is classified as Residential Class III Type - I, which indicates its designation for residential use within the area.