Guideline Value for NAKKEERAN STREET

Nakkeeran Street guideline value

The current guideline value of Nakkeeran Street is Rs 6,300 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam SRO, and is classified as Residential Special Type - III.

How the guideline value of Nakkeeran Street has changed

The guideline value for Nakkeeran Street has undergone several revisions over the years. The earliest recorded figure is from 2003, with a guideline value of Rs 873 per sq.ft. This increased significantly to Rs 1,650 per sq.ft in 2007, marking an increase of 89%. The value then rose dramatically to Rs 5,800 per sq.ft in 2012, reflecting a substantial change of 252%. However, there was no change in the value from 2012 to 2023, where it remained at Rs 5,800 per sq.ft. The latest revision in 2024 set the guideline value at Rs 6,300 per sq.ft, which is a 9% increase from the previous year.

It is important to note that there are years for which the register has no figure for Nakkeeran Street, specifically 2017 and 2002. Overall, from 2003 to 2024, the guideline value has increased by 622%.

Guideline values in Puliyur

In Puliyur village, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft, with a median value of Rs 5,800 per sq.ft. Nakkeeran Street's guideline value of Rs 6,300 per sq.ft is above this median.

• Namasivayapuram East: Rs 3,300 per sq.ft (2024)
• Namasivayapuram Main Road: Rs 3,300 per sq.ft (2024)
• Nagarjuna Nagar 2nd Street: Rs 7,100 per sq.ft (2024)
• Nagarjuna Nagar 1st Street: Rs 7,100 per sq.ft (2024)
• Muthu Thottam: Rs 3,800 per sq.ft (2024)
• Muthurulandi Colony2nd Main Road: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nakkeeran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,300 per sq.ft, the total guideline value amounts to Rs 63,00,000. The stamp duty at 7% would be Rs 4,41,000, and the registration fee at 2% would be Rs 1,26,000, bringing the total to Rs 5,67,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nakkeeran Street?

The Sub Registrar Office that covers Nakkeeran Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial component in the registration process of property transactions in Puliyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when a property is bought or sold.

When a buyer approaches the registration office, the guideline value is assessed to ensure that the correct duties are applied. This value helps in maintaining transparency and fairness in property transactions, ensuring that all parties are aware of the financial obligations involved.

Frequently asked questions

What is the current guideline value of Nakkeeran Street?

The current guideline value of Nakkeeran Street is Rs 6,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 873 per sq.ft in 2003 to Rs 6,300 per sq.ft in 2024, showing an overall increase of 622% over the years.

What are the other streets in Puliyur with their guideline values?

Other streets in Puliyur include Namasivayapuram East and Main Road at Rs 3,300 per sq.ft, Nagarjuna Nagar 1st and 2nd Streets at Rs 7,100 per sq.ft, and Muthu Thottam and Muthurulandi Colony 2nd Main Road at Rs 3,800 per sq.ft.

What fees are involved in buying property in Nakkeeran Street?

The fees involved include stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Nakkeeran Street located?

The Sub Registrar Office for Nakkeeran Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.