Guideline Value for NAKSHATRA

Nakshatra guideline value

The current guideline value of Nakshatra in Kalavakkam village is Rs 1,925 per sq.ft, effective from 1 July 2024. This falls under the jurisdiction of the Thiruporur Sub Registrar Office (SRO) and is classified as Mixed Type - III land.

How the guideline value of Nakshatra has changed

Over the years, the guideline value for Nakshatra has seen several revisions. The most recent revision in 2024 set the value at Rs 1,925 per sq.ft, an increase from Rs 1,750 per sq.ft in the 2023 revision. Notably, there was no change in the value between the 2017 and 2023 revisions, which remained at Rs 1,750 per sq.ft. Additionally, there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street.

From the 2017 revision to the 2024 revision, there has been an overall increase of 10%. The 2024 guideline value reflects a 10% increase from the previous year, indicating a notable adjustment in the property valuation for Nakshatra.

Guideline values in Kalavakkam

In Kalavakkam, there are 27 streets under the Thiruporur SRO that have a guideline value for 2024, ranging from Rs 1,816 to Rs 4,250 per sq.ft. The median guideline value for these streets is Rs 2,463 per sq.ft, placing Nakshatra's current value below this median.

• Old Mamallapuram Salai (Omr): Rs 2,205 per sq.ft (2024)
• Marg Savithanjana: Rs 2,200 per sq.ft (2024)
• Marg Properites: Rs 1,980 per sq.ft (2024)
• Kandhan Kottam: Rs 1,925 per sq.ft (2024)
• Jayam Properties: Rs 2,200 per sq.ft (2024)
• Happinest Phase V: Rs 2,873 per sq.ft (2024)

Stamp duty and registration fee for property in Nakshatra

For a 1,000 sq.ft plot at the current guideline value of Rs 1,925 per sq.ft, the total guideline value amounts to Rs 19,25,000. The stamp duty at 7% would be Rs 1,34,750, and the registration fee at 2% would be Rs 38,500, bringing the total cost for these fees to Rs 1,73,250. It's 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 Nakshatra?

The Nakshatra area falls under the Thiruporur Sub Registrar Office, located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Kalavakkam, as it determines the minimum value at which properties can be registered. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, ensuring compliance with local regulations.

During the registration process, the guideline value serves as a benchmark for the property's worth, and it is essential for both buyers and sellers to be aware of this value. This ensures that all transactions are conducted fairly and transparently, adhering to the established legal framework.

Frequently asked questions

What is the current guideline value of Nakshatra?

The current guideline value of Nakshatra is Rs 1,925 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nakshatra has seen a 10% increase from Rs 1,750 per sq.ft in 2023 to Rs 1,925 per sq.ft in 2024. Overall, from 2017 to 2024, there has been a 10% increase as well.

What are the other streets in Kalavakkam and their guideline values?

Other streets in Kalavakkam include Old Mamallapuram Salai (Omr) at Rs 2,205 per sq.ft, Marg Savithanjana at Rs 2,200 per sq.ft, and Kandhan Kottam at Rs 1,925 per sq.ft, among others.

What is the stamp duty rate for property in Nakshatra?

The stamp duty for property transactions in Nakshatra is charged at 7% of the guideline value or the sale price, whichever is higher.

Where is the Sub Registrar Office for Nakshatra located?

The Thiruporur Sub Registrar Office, which covers Nakshatra, is located at No.29, South Mada Street, Thiruporur-603110, Chengalpattu registration zone.