Guideline Value for NAKSHATRA GARDEN

Nakshatra Garden guideline value

The current guideline value of Nakshatra Garden in Melpakkam village, under the Kunrathur SRO, is Rs 4,105 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - III.

How the guideline value of Nakshatra Garden has changed

The guideline value for Nakshatra Garden has seen significant changes over the years. The earliest recorded revision was in 2017, with a guideline value of Rs 2,500 per sq.ft. This figure increased to Rs 3,732 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 brought the guideline value to Rs 4,105 per sq.ft, reflecting a 10% increase from the previous year.

Overall, from the 2017 revision to the 2024 revision, the guideline value has increased by 64%. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Guideline values in Melpakkam

In Melpakkam, there are 17 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 440 to Rs 4,105 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, placing Nakshatra Garden's 2024 figure above that median.

• Perumal Koil Street: Rs 440 per sq.ft (2024)
• Royal Assets: Rs 2,530 per sq.ft (2024)
• Kamathenu Nagar Extension: Rs 1,650 per sq.ft (2024)
• Kamadhenu Avenue - II: Rs 1,540 per sq.ft (2024)
• Kamadhenu Avenue - I: Rs 1,540 per sq.ft (2024)
• Sambanthan Avenue: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Nakshatra Garden

For a 1,000 sq.ft plot at the current guideline value of Rs 4,105 per sq.ft, the total guideline value amounts to Rs 41,05,000. The stamp duty at 7% would be Rs 2,87,350, and the registration fee at 2% would be Rs 82,100, bringing the total to Rs 3,69,450. It is important to note that 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 Nakshatra Garden?

The Nakshatra Garden area is covered by the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai - 600 069. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Melpakkam. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved in the transaction.

When a property is sold, the guideline value is used to calculate the applicable duties, which are mandatory charges that must be paid to the government. This ensures that the transaction is legally recognized and recorded in the official registry.

Frequently asked questions

What is the current guideline value of Nakshatra Garden?

The current guideline value of Nakshatra Garden is Rs 4,105 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

Since 2017, the guideline value has increased from Rs 2,500 per sq.ft to Rs 4,105 per sq.ft in 2024, marking an overall increase of 64%.

What is the land classification of Nakshatra Garden?

Nakshatra Garden is classified as Residential Special Type - III, which indicates its designated use for residential purposes.

Where can I find the registration office for Nakshatra Garden?

The registration office for Nakshatra Garden is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai - 600 069.

How is stamp duty calculated for properties in Nakshatra Garden?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a plot valued at Rs 41,05,000, the stamp duty would be Rs 2,87,350 at 7%.