Guideline Value for NAINAR MOHAMED STREET (WARD -7)

Nainar Mohamed Street (Ward -7) guideline value

The current guideline value of Nainar Mohamed Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Nainar Mohamed Street (Ward -7) has changed

The guideline value for Nainar Mohamed Street has undergone several revisions over the years. The earliest available revision is from 2012, where the guideline value was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in the 2017 revision. In 2023, the value increased to Rs 1,200 per sq.ft, and the most recent revision in 2024 set the value at Rs 1,321 per sq.ft.

Between the revisions, there have been notable changes. From 2017 to 2023, there was a significant increase of 49%. The value then rose by 10% from 2023 to 2024. Overall, comparing the 2012 revision to the 2024 revision, there has been an increase of 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

In Ninna Karai, there are 449 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Nainar Mohamed Street's 2024 value above the median.

• Nagavalliamman Koil Street (Ward -8): Rs 1,980 per sq.ft (2024)
• Nakkeeran Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -2): Rs 1,321 per sq.ft (2024)
• Nalliagodan Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Nammalwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• M.V.R.Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Nainar Mohamed Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, making the total charges Rs 1,18,890. Please note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nainar Mohamed Street (Ward -7)?

The Sub Registrar Office that covers Nainar Mohamed Street (Ward -7) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Ninna Karai. It serves as a benchmark for determining the minimum value at which properties must be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value is compared with the actual sale price. The higher of the two values is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nainar Mohamed Street?

The current guideline value of Nainar Mohamed Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What is the land classification for Nainar Mohamed Street?

The land classification for Nainar Mohamed Street is Residential Special Type - V.

What are the registration fees for properties in Nainar Mohamed Street?

The registration fees are calculated based on the guideline value. For example, for a plot valued at Rs 13,21,000, the stamp duty would be Rs 92,470, and the registration fee would be Rs 26,420.

Which office handles registrations for Nainar Mohamed Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Nainar Mohamed Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.