Guideline Value for NAKKEERAN STREET

Nakkeeran Street guideline value

The current guideline value of Nakkeeran Street is Rs 700 per sq.ft, effective from 1 July 2024. This street is located in Ponneri village under the Ponneri SRO, classified as Residential Class II Type - I.

How the guideline value of Nakkeeran Street has changed

There are no recorded figures for Nakkeeran Street in the revisions from 2002, 2003, 2007, 2012, and 2017. The guideline value was Rs 300 per sq.ft in the 2023 revision, which increased to Rs 700 per sq.ft in the 2024 revision, marking a change of +133%.

The 2024 revision reflects the current market conditions and aligns with the median guideline value for Ponneri streets. This increase indicates a significant adjustment in the value of properties in this area.

Guideline values in Ponneri

Ponneri village has a total of 120 streets under the Ponneri SRO, with guideline values ranging from Rs 201 to Rs 1,200 per sq.ft. The median value is Rs 700 per sq.ft, which is the same as Nakkeeran Street's 2024 guideline value.

• Nadar Rice Mill Road: Rs 700 per sq.ft (2024)
• Narayani Appartment: Rs 700 per sq.ft (2024)
• Narayani Nagar: Rs 700 per sq.ft (2024)
• Neeli Appadurai Mudalai St: Rs 900 per sq.ft (2024)
• Neeli Appadurai Mudali St: Rs 1,200 per sq.ft (2024)
• Mugambigai Nagar Layout: Rs 700 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 700 per sq.ft, the total guideline value would be Rs 7,00,000. The stamp duty at 7% would be Rs 49,000, and the registration fee at 2% would be Rs 14,000, making the total charges Rs 63,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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 Ponneri Sub Registrar Office, located at 9/5, Taluk Office Road, Ponneri, Chennai-601204. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Ponneri. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when a property is bought or sold.

When registering a property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives the appropriate revenue based on the property's value.

Frequently asked questions

What is the current guideline value of Nakkeeran Street?

The current guideline value of Nakkeeran Street is Rs 700 per sq.ft, effective from 1 July 2024.

How much did the guideline value change from 2023 to 2024?

The guideline value increased from Rs 300 per sq.ft in 2023 to Rs 700 per sq.ft in 2024, marking a change of +133%.

What is the land classification of Nakkeeran Street?

Nakkeeran Street is classified as Residential Class II Type - I under the Ponneri SRO.

Where is the Ponneri Sub Registrar Office located?

The Ponneri Sub Registrar Office is located at 9/5, Taluk Office Road, Ponneri, Chennai-601204.

How is stamp duty calculated for properties in Ponneri?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, if the guideline value is Rs 7,00,000, the stamp duty at 7% would be Rs 49,000.