Guideline Value for N.S.R Street

N.S.R Street guideline value

The current guideline value of N.S.R Street in Vellavedu village, under the Poonamallee SRO, is Rs 825 per sq.ft, effective from 1 July 2024. This street is classified as Residential Special Type - I.

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

The guideline value for N.S.R Street has undergone several revisions over the years. The 2012 revision set the value at Rs 750 per sq.ft, which was then reduced to Rs 502 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 750 per sq.ft, and the most recent 2024 revision raised it further to Rs 825 per sq.ft, marking a 10% increase from the previous year.

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

Guideline values in Vellavedu

In Vellavedu, a total of 11 streets under the Poonamallee SRO have a 2024 guideline value, ranging from Rs 550 to Rs 2,475 per sq.ft. The median guideline value for these streets is Rs 1,320 per sq.ft, placing N.S.R Street's current value below this median.

• New Metro Nagar: Rs 1,660 per sq.ft (2024)
• Shree Vaari Garden Phase-I: Rs 1,500 per sq.ft (2024)
• Sree Vaari Garden Phase - II: Rs 1,700 per sq.ft (2024)
• Kamadenu Enclave: Rs 825 per sq.ft (2024)
• Sri Prasanna Vinayagar Nagar: Rs 550 per sq.ft (2024)
• Sri Prasanna Vinayakar Nagar: Rs 550 per sq.ft (2024)

Stamp duty and registration fee for property in N.S.R Street

For a 1,000 sq.ft plot at the current guideline value of Rs 825 per sq.ft, the total guideline value amounts to Rs 8,25,000. The stamp duty at 7% would be Rs 57,750, and the registration fee at 2% would be Rs 16,500, bringing the total to Rs 74,250. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

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

N.S.R Street falls under the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for further assistance.

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

The guideline value is a critical factor in the registration process when buying or selling property in Vellavedu. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official registry.

When a property is sold, the guideline value helps in calculating the necessary fees based on the property's value, which is essential for legal documentation and transfer of ownership. This ensures transparency and compliance with local regulations during the property transaction process.

Frequently asked questions

What is the current guideline value of N.S.R Street?

The current guideline value of N.S.R Street is Rs 825 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 750 per sq.ft in 2012 to Rs 502 per sq.ft in 2017, then increased to Rs 750 per sq.ft in 2023, and finally to Rs 825 per sq.ft in 2024.

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

N.S.R Street is classified as Residential Special Type - I, which indicates its suitability for residential development.

What are the other streets in Vellavedu with their guideline values?

Other streets in Vellavedu include New Metro Nagar at Rs 1,660 per sq.ft, Shree Vaari Garden Phase-I at Rs 1,500 per sq.ft, Sree Vaari Garden Phase - II at Rs 1,700 per sq.ft, Kamadenu Enclave at Rs 825 per sq.ft, and Sri Prasanna Vinayagar Nagar and Sri Prasanna Vinayakar Nagar both at Rs 550 per sq.ft.

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

The Sub Registrar Office covering N.S.R Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.