Guideline Value for NAKKEERAN STREET

Nakkeeran Street guideline value

The current guideline value of Nakkeeran Street is Rs 4,900 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - II.

How the guideline value of Nakkeeran Street has changed

Over the years, the guideline value of Nakkeeran Street has seen several revisions. The 2007 revision set the value at Rs 1,100 per sq.ft, which increased significantly to Rs 4,500 per sq.ft in 2012, marking a 309% rise. However, the value dropped to Rs 3,015 per sq.ft in the 2017 revision, reflecting a decrease of 33%. The value then climbed to Rs 4,500 per sq.ft in 2023, and finally reached Rs 4,900 per sq.ft in the 2024 revision, representing a 9% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 345%. The register has no figure for Nakkeeran Street for the years 2002 and 2003.

Guideline values in Purasaivakkam

In Purasaivakkam, there are 519 streets under the Purasaivakkam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 18,100 per sq.ft. The median guideline value for the area is Rs 5,500 per sq.ft, placing Nakkeeran Street's 2024 figure below this median.

• Nainiappa Naicken Street: Rs 4,900 per sq.ft (2024)
• Nallayya Naidu Street: Rs 5,500 per sq.ft (2024)
• Naina Mohhamed Rowther Street: Rs 4,900 per sq.ft (2024)
• Nammalwar Lane: Rs 5,500 per sq.ft (2024)
• Nammazhvar Chetty Street: Rs 5,500 per sq.ft (2024)
• Nancy Street: Rs 5,500 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 4,900 per sq.ft, the total guideline value amounts to Rs 49,00,000. The stamp duty, charged at 7%, would be Rs 3,43,000, and the registration fee, at 2%, would be Rs 98,000. Together, the total fees would be Rs 4,41,000. 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 precise calculations.

Which Sub Registrar Office covers Nakkeeran Street?

The Sub Registrar Office that covers Nakkeeran Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Purasaivakkam. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Understanding the guideline value helps buyers and sellers navigate the registration process effectively. It ensures that all parties are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Nakkeeran Street?

The current guideline value of Nakkeeran Street is Rs 4,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 1,100 per sq.ft in 2007 to Rs 4,900 per sq.ft in 2024, showing an overall increase of 345% over the years.

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

For a property valued at Rs 49,00,000, the stamp duty would be Rs 3,43,000 and the registration fee would be Rs 98,000, totaling Rs 4,41,000.

Which Sub Registrar Office covers Nakkeeran Street?

The Purasaivakkam Sub Registrar Office covers Nakkeeran Street, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the median guideline value in Purasaivakkam?

The median guideline value in Purasaivakkam is Rs 5,500 per sq.ft, which means Nakkeeran Street's current value is below the median for the area.