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 Sattamangalam 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. In the 2012 revision, the value was set at Rs 1,600 per sq.ft. This figure remained unchanged until the 2017 revision, where it dropped to Rs 1,072 per sq.ft, marking a decrease of 33%. The value then saw a significant increase in the 2023 revision to Rs 1,600 per sq.ft, followed by a further increase to Rs 1,760 per sq.ft in the 2024 revision, reflecting a 10% rise.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The 2017 and 2023 revisions show a notable increase of 49% over that period. It is important to note that there are no figures available for Nakkeeran Street in the revisions for the years 2002, 2003, and 2007.

Guideline values in Sattamangalam

In Sattamangalam village, there are 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Nakkeeran Street's 2024 guideline value above this 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 to Rs 1,58,400. It is important to note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

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, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Sattamangalam, as it determines the minimum value for registration purposes. When buying or selling property, the guideline value helps establish the amount of stamp duty and registration fees payable, ensuring compliance with local regulations.

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.

What are the stamp duty and registration fees for property transactions?

Stamp duty is charged at 7% of the guideline value or sale price, whichever is higher, and the registration fee is 2% of the guideline value or sale price. For example, a 1,000 sq.ft plot would incur a total fee of Rs 1,58,400 based on the current guideline value.

Where is the Sub Registrar Office located for Nakkeeran Street?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.