Guideline Value for NAMMALWAR LANE

Nammalwar Lane guideline value

The current guideline value of Nammalwar Lane, located in Purasaivakkam village under the Purasaivakkam SRO, is Rs 5,500 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Nammalwar Lane has changed

The guideline value for Nammalwar Lane has seen several revisions over the years. In 2007, the value was Rs 1,800 per sq.ft, which increased significantly to Rs 5,000 per sq.ft in 2012. However, it then decreased to Rs 3,350 per sq.ft in 2017. The value rose again to Rs 5,000 per sq.ft in 2023, and currently stands at Rs 5,500 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

Between the revisions, the most notable changes include a 178% increase from 2007 to 2012, followed by a 33% decrease from 2012 to 2017. The value then surged by 49% from 2017 to 2023, and overall, from 2007 to 2024, there has been a remarkable increase of 206%. The register has no figures for this 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 is Rs 5,500 per sq.ft, making Nammalwar Lane's current figure equal to this median.

• Nammazhvar Chetty Street: Rs 5,500 per sq.ft (2024)
• Nancy Street: Rs 5,500 per sq.ft (2024)
• Nallayya Naidu Street: Rs 5,500 per sq.ft (2024)
• Nakkeeran Street: Rs 4,900 per sq.ft (2024)
• Nainiappa Naicken Street: Rs 4,900 per sq.ft (2024)
• Naina Mohhamed Rowther Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nammalwar Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nammalwar Lane?

The Nammalwar Lane is covered by the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration process of property transactions in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties. This ensures that the government receives appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nammalwar Lane?

The current guideline value of Nammalwar Lane is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, marking an overall increase of 206% over the years.

What is the land classification for Nammalwar Lane?

Nammalwar Lane is classified as Residential Class III Type - I, which is relevant for determining its guideline value and usage.

Where can I find the Sub Registrar Office for Nammalwar Lane?

The Sub Registrar Office covering Nammalwar Lane is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Nammalwar Lane?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, a 1,000 sq.ft plot at the current guideline value incurs a total fee of Rs 4,95,000, including stamp duty and registration fees.