Guideline Value for NAINIAPPAN STREET

Nainiappan Street guideline value

The current guideline value of Nainiappan Street is Rs 13,200 per sq.ft, effective from 1 July 2024. This street is located in Mylapore village, under the Mylapore SRO, and is classified as Residential Class II Type - I.

How the guideline value of Nainiappan Street has changed

The guideline value for Nainiappan Street has undergone several revisions over the years. The 2012 revision set the value at Rs 12,000 per sq.ft, which remained unchanged in the 2023 revision. However, in the 2024 revision, the guideline value increased to Rs 13,200 per sq.ft, marking a 10% rise from the previous year.

There are no figures recorded for the years 2002, 2003, 2007, and 2017 in the register for this street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, placing Nainiappan Street's 2024 figure above the median.

• Nainar Nadar Street: Rs 4,900 per sq.ft (2024)
• Nainan Street: Rs 8,800 per sq.ft (2024)
• Nallanna Mudali Lane: Rs 8,800 per sq.ft (2024)
• Nallanna Mudali Street: Rs 8,800 per sq.ft (2024)
• Nallappan Street: Rs 8,800 per sq.ft (2024)
• Nageswarapuram: Rs 8,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nainiappan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 13,200 per sq.ft, the total guideline value amounts to Rs 1,32,00,000. The stamp duty at 7% would be Rs 9,24,000, and the registration fee at 2% would be Rs 2,64,000, bringing the total charges to Rs 11,88,000. It is important to note that 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 detailed calculations.

Which Sub Registrar Office covers Nainiappan Street?

The Sub Registrar Office that covers Nainiappan Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more information.

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

When buying or selling property in Mylapore, the guideline value is a critical factor used during the registration process. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

The guideline value ensures that properties are registered at a fair value, reflecting the current market conditions as assessed by the Registration Department. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Nainiappan Street?

The current guideline value of Nainiappan Street is Rs 13,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 12,000 per sq.ft from 2012 to 2023, and then increased by 10% to Rs 13,200 per sq.ft in 2024. There are no figures available for the years 2002, 2003, 2007, and 2017.

What is the land classification of Nainiappan Street?

Nainiappan Street is classified as Residential Class II Type - I under the Mylapore SRO.

What are the stamp duty rates applicable in Nainiappan Street?

The stamp duty rate applicable in Nainiappan Street is 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.

Where is the Mylapore Sub Registrar Office located?

The Mylapore Sub Registrar Office is located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.