Guideline Value for NADU STREET

Nadu Street guideline value

The current guideline value for Nadu Street in Iyaampettai village is Rs 550 per sq.ft, effective from 1 July 2024. This street falls under the Walajabad Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Nadu Street has changed

The guideline value of Nadu Street has undergone several revisions since 2007. The 2007 revision set the value at Rs 100 per sq.ft, which saw a significant increase to Rs 500 per sq.ft in 2012. However, in 2017, the value dropped to Rs 335 per sq.ft. The subsequent revisions saw an increase to Rs 500 per sq.ft in 2023 and a further rise to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

Between the revisions, the guideline value increased by 400% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then increased by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has risen by 450%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Iyaampettai

In Iyaampettai, there are 12 streets under the Walajabad SRO that carry a 2024 guideline value, ranging from Rs 275 to Rs 660 per sq.ft. The median guideline value is Rs 550 per sq.ft, which is equal to the current figure for Nadu Street.

• Melmadaveethi: Rs 550 per sq.ft (2024)
• Male Street: Rs 550 per sq.ft (2024)
• Main Road: Rs 550 per sq.ft (2024)
• Kezh Street: Rs 550 per sq.ft (2024)
• Kanthappar Street: Rs 550 per sq.ft (2024)
• Kanthapar Nagar: Rs 275 per sq.ft (2024)

Stamp duty and registration fee for property in Nadu Street

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to Rs 5,50,000. The stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000, totaling Rs 49,500. 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 Nadu Street?

The Nadu Street falls under the jurisdiction of the Walajabad Sub Registrar Office, located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Iyaampettai. It determines the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately for legal and taxation purposes.

When a property is sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Nadu Street?

The current guideline value for Nadu Street is Rs 550 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since 2007, the guideline value has increased from Rs 100 per sq.ft to Rs 550 per sq.ft in 2024, marking an overall increase of 450%.

What are the other streets in Iyaampettai with the same guideline value?

Other streets in Iyaampettai with a guideline value of Rs 550 per sq.ft in 2024 include Melmadaveethi, Male Street, Main Road, Kezh Street, and Kanthappar Street.

How is stamp duty calculated for properties in Nadu Street?

Stamp duty for properties in Nadu Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied.

Where is the Sub Registrar Office for Nadu Street located?

The Walajabad Sub Registrar Office, which covers Nadu Street, is located at Sriperumbudur Road, Walajabad-631 605, Chengalpattu registration zone.