Guideline Value for NAKINONI VENKATESWARLU GARDEN

Nakinoni Venkateswarlu Garden guideline value

The current guideline value of Nakinoni Venkateswarlu Garden is Rs 1,100 per sq.ft, effective from 1 July 2024. This property is located in Karapakkam village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Nakinoni Venkateswarlu Garden has changed

The guideline value for Nakinoni Venkateswarlu Garden has seen several revisions over the years. The earliest recorded figure is from 2012, which was Rs 1,000 per sq.ft. This was followed by a decrease to Rs 670 per sq.ft in 2017. The 2023 revision brought it back up to Rs 1,000 per sq.ft, and the most recent revision in 2024 set it at Rs 1,100 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 for this street.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The guideline value then increased by 10% from 2023 to 2024, resulting in an overall increase of 10% from 2012 to 2024.

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, with a median value of Rs 1,700 per sq.ft. The guideline value of Nakinoni Venkateswarlu Garden is below this median.

• NADU STREET 1st CROSS STREET (WEST): Rs 1,700 per sq.ft (2024)
• NADU STREET 1st CROSS STREET (EAST): Rs 1,700 per sq.ft (2024)
• Nadu Street: Rs 1,700 per sq.ft (2024)
• Nannooh Brothers Garden: Rs 2,200 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)

Stamp duty and registration fee for property in Nakinoni Venkateswarlu Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nakinoni Venkateswarlu Garden?

The Nakinoni Venkateswarlu Garden is covered by 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 is a critical factor in the registration process when buying or selling property in Karapakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

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

Frequently asked questions

What is the current guideline value of Nakinoni Venkateswarlu Garden?

The current guideline value of Nakinoni Venkateswarlu Garden is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase being from Rs 1,000 per sq.ft in 2023 to Rs 1,100 per sq.ft in 2024. The value decreased from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017 before increasing again.

What is the classification of Nakinoni Venkateswarlu Garden?

Nakinoni Venkateswarlu Garden is classified as Residential Class III Type - I under the Neelankarai SRO.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000. This is based on the current guideline value of Rs 1,100 per sq.ft.

Where is the Neelankarai Sub Registrar Office located?

The Neelankarai Sub Registrar Office is located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.