Guideline Value for NAKEERAN STREET

Nakeeran Street guideline value

The current guideline value of Nakeeran Street is Rs 3,080 per sq.ft, effective from 1 July 2024. This street is located in Ekkaduthangal village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Nakeeran Street has changed

The guideline value for Nakeeran Street has seen significant changes over the years. In 2002, the guideline value was Rs 397 per sq.ft. By 2003, it increased to Rs 458 per sq.ft, marking a 15% rise. The value continued to grow, reaching Rs 700 per sq.ft in 2007, which represented a 53% increase from the previous year. In 2012, the value rose to Rs 2,800 per sq.ft, reflecting a substantial 300% increase from 2007. However, this figure dropped by 33% to Rs 1,876 per sq.ft in 2017. The 2023 revision saw a significant increase to Rs 2,800 per sq.ft, and the current value as of 2024 is Rs 3,080 per sq.ft, marking a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 676%. The register has no figures for the years not mentioned in the revisions.

Guideline values in Ekkaduthangal

In Ekkaduthangal, there are 190 streets under the Chennai South Joint I SRO that carry a 2024 guideline value ranging from Rs 3,080 to Rs 8,800 per sq.ft, with a median value of Rs 4,620 per sq.ft. Nakeeran Street's 2024 figure is below this median.

• Nandhivarman Street: Rs 6,610 per sq.ft (2024)
• Muvendar Street: Rs 3,520 per sq.ft (2024)
• Muthuramalingam 2nd Lane: Rs 3,080 per sq.ft (2024)
• Muthuramalingam 1st Lane: Rs 3,080 per sq.ft (2024)
• Muthuramalinga Devar Street: Rs 3,520 per sq.ft (2024)
• Navarathina Garden 1st Street: Rs 6,610 per sq.ft (2024)

Stamp duty and registration fee for property in Nakeeran Street

For a 1,000 sq.ft plot at the current rate of Rs 3,080 per sq.ft, the guideline value amounts to Rs 30,80,000. The stamp duty at 7% would be Rs 2,15,600, and the registration fee at 2% would be Rs 61,600, totaling Rs 2,77,200. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nakeeran Street?

The Sub Registrar Office that covers Nakeeran Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more details.

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

The guideline value is an essential reference point when buying or selling property in Ekkaduthangal. It is used to determine the stamp duty and registration fees that must be paid at the time of registration.

When a property is sold, the guideline value ensures that the transaction is recorded accurately, reflecting the official value set by the government. This helps in maintaining transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Nakeeran Street?

The current guideline value of Nakeeran Street is Rs 3,080 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 397 per sq.ft in 2002 to Rs 3,080 per sq.ft in 2024, marking an overall increase of 676% over the years.

What are the stamp duty and registration fees for properties on Nakeeran Street?

For a property valued at Rs 30,80,000, the stamp duty would be Rs 2,15,600, and the registration fee would be Rs 61,600, totaling Rs 2,77,200.

Which office handles registrations for Nakeeran Street?

The Chennai South Joint I Sub Registrar Office handles registrations for Nakeeran Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the median guideline value in Ekkaduthangal?

The median guideline value in Ekkaduthangal is Rs 4,620 per sq.ft, with Nakeeran Street's value being below this median at Rs 3,080 per sq.ft.