Guideline Value for NAKSHATRA NAGAR

Nakshatra Nagar guideline value

The current guideline value of Nakshatra Nagar is Rs 100 per sq.ft, effective from 1 July 2024. This area is located in Salavakkam village, under the Salavakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Nakshatra Nagar has changed

In the 2012 revision, the guideline value for Nakshatra Nagar was Rs 100 per sq.ft. This figure remained unchanged in the 2017 revision, where it was Rs 67 per sq.ft. The value then increased significantly by 49% to Rs 100 per sq.ft in the 2023 revision. The 2024 revision maintains this figure at Rs 100 per sq.ft, showing no change from the previous year.

It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for Nakshatra Nagar. Overall, from 2012 to 2024, the guideline value has remained unchanged.

Guideline values in Salavakkam

In Salavakkam, there are 38 streets under the Salavakkam SRO that carry a 2024 guideline value ranging from Rs 100 to Rs 250 per sq.ft, with a median value of Rs 150 per sq.ft. Nakshatra Nagar's current guideline value is below this median.

• Nakshatra Avenue: Rs 150 per sq.ft (2024)
• Mettu Street: Rs 126 per sq.ft (2024)
• Padasalai Street: Rs 100 per sq.ft (2024)
• Mariyamman Koil Street: Rs 126 per sq.ft (2024)
• Pambaikara Street: Rs 102 per sq.ft (2024)
• Panchanga Iyer Street: Rs 175 per sq.ft (2024)

Stamp duty and registration fee for property in Nakshatra Nagar

For a 1,000 sq.ft plot at the current rate of Rs 100 per sq.ft, the guideline value amounts to Rs 1,00,000. The stamp duty at 7% would be Rs 7,000, and the registration fee at 2% would be Rs 2,000, totaling Rs 9,000. It is important to note that 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 Nakshatra Nagar?

The Sub Registrar Office that covers Nakshatra Nagar is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Salavakkam. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the government receives appropriate revenue from property transactions.

When you buy or sell property, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This process helps maintain transparency and consistency in property transactions.

Frequently asked questions

What is the current guideline value of Nakshatra Nagar?

The current guideline value of Nakshatra Nagar is Rs 100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen changes from Rs 100 per sq.ft in 2012 to Rs 67 per sq.ft in 2017, then increased to Rs 100 per sq.ft in 2023, and remains at Rs 100 per sq.ft in 2024.

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

Other streets in Salavakkam include Nakshatra Avenue at Rs 150 per sq.ft, Mettu Street at Rs 126 per sq.ft, Padasalai Street at Rs 100 per sq.ft, Mariyamman Koil Street at Rs 126 per sq.ft, Pambaikara Street at Rs 102 per sq.ft, and Panchanga Iyer Street at Rs 175 per sq.ft.

How is stamp duty calculated for properties in Nakshatra Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For instance, for a property valued at Rs 1,00,000, the stamp duty would be Rs 7,000 at 7%.

Where is the Sub Registrar Office for Nakshatra Nagar located?

The Sub Registrar Office for Nakshatra Nagar is located at 2/1a, Thottakkara Street, Salavakkam, 603 107, Chengalpattu registration zone.