Guideline Value for NAKKEERAN STREET (WARD -4)

Nakkeeran Street (Ward -4) guideline value

The current guideline value of Nakkeeran Street (Ward -4) is Rs 1,760 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 - III.

How the guideline value of Nakkeeran Street (Ward -4) has changed

Over the years, the guideline value of Nakkeeran Street has seen several revisions. The 2012 revision set the value at Rs 1,600 per sq.ft, which remained unchanged until the 2017 revision, where it decreased to Rs 1,072 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 1,600 per sq.ft in the 2023 revision, and further rose to Rs 1,760 per sq.ft in the 2024 revision, reflecting a 10% increase.

From the 2017 revision to 2023, the value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Nakkeeran Street's 2024 figure above this median.

• Nainar Mohamed Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -8): Rs 1,980 per sq.ft (2024)
• Nalliagodan Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -2): Rs 1,321 per sq.ft (2024)
• Nammalwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Nanmullaiyar Street (Ward -7): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Nakkeeran Street (Ward -4)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,760 per sq.ft, the total guideline value amounts to Rs 17,60,000. The stamp duty at 7% would be Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, totaling Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nakkeeran Street (Ward -4)?

The Sub Registrar Office covering Nakkeeran Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for additional 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 is used to determine the stamp duty and registration fees that buyers must pay, ensuring that these fees are calculated based on the established rates for the area.

When buying or selling property, the guideline value is essential for both parties to understand the financial obligations associated with the transaction. It is advisable to consult the latest revisions to ensure compliance with the current rates.

Frequently asked questions

What is the current guideline value of Nakkeeran Street (Ward -4)?

The current guideline value of Nakkeeran Street (Ward -4) is Rs 1,760 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,600 per sq.ft in 2012 to Rs 1,072 per sq.ft in 2017, then back to Rs 1,600 per sq.ft in 2023, and finally to Rs 1,760 per sq.ft in 2024.

What is the land classification for Nakkeeran Street?

The land classification for Nakkeeran Street (Ward -4) is Residential Special Type - III.

Where can I find the Sub Registrar Office for Nakkeeran Street?

The Sub Registrar Office for Nakkeeran Street (Ward -4) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 17,60,000, the stamp duty at 7% would be Rs 1,23,200.