Guideline Value for NADU STREET 1st CROSS STREET (EAST)

NADU STREET 1st CROSS STREET (EAST) guideline value

The current guideline value for NADU STREET 1st CROSS STREET (EAST) is Rs 1,700 per sq.ft, effective from 1 July 2024. This street is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class II Type - III.

How the guideline value of NADU STREET 1st CROSS STREET (EAST) has changed

The guideline value for NADU STREET 1st CROSS STREET (EAST) has seen several revisions over the years. In 2012, the guideline value was Rs 1,500 per sq.ft, which decreased to Rs 1,005 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly by 49% to reach Rs 1,500 per sq.ft. The most recent revision in 2024 has set the guideline value at Rs 1,700 per sq.ft, reflecting a 13% increase from the previous year.

It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 13%.

Guideline values in Karapakkam

In Karapakkam, there are 185 streets under the Neelankarai SRO that carry a 2024 guideline value, ranging from Rs 1,000 to Rs 10,700 per sq.ft. The median guideline value for these streets is Rs 1,700 per sq.ft, which is equal to the 2024 figure for NADU STREET 1st CROSS STREET (EAST).

• NADU STREET 1st CROSS STREET (WEST): Rs 1,700 per sq.ft (2024)
• Nadu Street: Rs 1,700 per sq.ft (2024)
• Nakinoni Venkateswarlu Garden: Rs 1,100 per sq.ft (2024)
• Muthamizh Nagar Main Street: Rs 4,400 per sq.ft (2024)
• MUTHAMIZH NAGAR 8th STREET: Rs 4,400 per sq.ft (2024)
• MUTHAMIZH NAGAR 7th STREET: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in NADU STREET 1st CROSS STREET (EAST)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,700 per sq.ft, the total guideline value amounts to Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, while the registration fee at 2% would be Rs 34,000, bringing the total cost for these fees to Rs 1,53,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers NADU STREET 1st CROSS STREET (EAST)?

The Sub Registrar Office that covers NADU STREET 1st CROSS STREET (EAST) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Karapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for legal and tax purposes.

When a buyer or seller engages in a property transaction, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transfer of property ownership. This ensures transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of NADU STREET 1st CROSS STREET (EAST)?

The current guideline value of NADU STREET 1st CROSS STREET (EAST) is Rs 1,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,700 per sq.ft in 2024.

What are the other streets in Karapakkam with similar guideline values?

Other streets in Karapakkam with a 2024 guideline value of Rs 1,700 per sq.ft include NADU STREET 1st CROSS STREET (WEST) and Nadu Street.

What are the fees associated with buying property in NADU STREET 1st CROSS STREET (EAST)?

For a 1,000 sq.ft plot, the total guideline value is Rs 17,00,000. The stamp duty at 7% would be Rs 1,19,000, and the registration fee at 2% would be Rs 34,000, totaling Rs 1,53,000 for these fees.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office covering NADU STREET 1st CROSS STREET (EAST) is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.