Guideline Value for NAKKEERAN STREET (WARD -4)

Nakkeeran Street (Ward -4) guideline value

The current guideline value for Nakkeeran Street (Ward -4) is Rs 1,760 per sq.ft, effective from 1 July 2024. This street is located in Panangottur 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

The guideline value for Nakkeeran Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 1,760 per sq.ft, which is an increase from Rs 1,600 per sq.ft in the 2023 revision, reflecting a change of +10%. Prior to that, the 2017 revision had the value at Rs 1,072 per sq.ft, marking a significant increase of +49% to the 2023 figure. The 2012 revision also recorded a value of Rs 1,600 per sq.ft, which was a decrease of -33% from the 2017 figure. It is important to note that there are no figures available for the revisions from 2002, 2003, and 2007 for this street.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +10%. This indicates a steady adjustment in the valuation of the property over the years.

Guideline values in Panangottur

In Panangottur village, there are 419 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value in this area is Rs 990 per sq.ft, placing Nakkeeran Street's 2024 figure above the median.

• Nainar Mohamed Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -8): Rs 1,980 per sq.ft (2024)
• Nalliagodan Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -2): Rs 1,320 per sq.ft (2024)
• Nammalwar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Nanmullaiyar Street (Ward -7): Rs 1,320 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 would be Rs 17,60,000. The stamp duty at 7% would amount to Rs 1,23,200, and the registration fee at 2% would be Rs 35,200, bringing the total fees together to 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.

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

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

The Sub Registrar Office that covers Nakkeeran Street (Ward -4) 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 Panangottur

The guideline value is a critical factor in the registration process when buying or selling property in Panangottur. It is used to determine the stamp duty and registration fees that need to be paid during the transaction, ensuring that the government receives the appropriate revenue based on the property's valuation.

When a property is registered, the guideline value serves as a benchmark for the transaction, helping to standardize property valuations across the region. Buyers and sellers should be aware of these values to make informed decisions during property transactions.

Frequently asked questions

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

The current guideline value for 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 for Nakkeeran Street has changed from Rs 1,600 per sq.ft in 2023 to Rs 1,760 per sq.ft in 2024. The value has also increased from Rs 1,072 per sq.ft in 2017 and Rs 1,600 per sq.ft in 2012.

What are the stamp duty and registration fees for property in Nakkeeran Street?

For a 1,000 sq.ft plot at the current guideline value, the total guideline value is Rs 17,60,000. The stamp duty would be Rs 1,23,200, and the registration fee would be Rs 35,200, totaling Rs 1,58,400.

Which office handles registrations for Nakkeeran Street?

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

What is the land classification for Nakkeeran Street?

The land classification for Nakkeeran Street (Ward -4) is Residential Special Type - III, indicating its designation for residential purposes.