Guideline Value for NAMMALWAR STREET (WARD -5)

Nammalwar Street (Ward -5) guideline value

The current guideline value of Nammalwar Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

How the guideline value of Nammalwar Street (Ward -5) has changed

The guideline value for Nammalwar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which remained unchanged until the 2017 revision, where it dropped to Rs 804 per sq.ft. Following this, the 2023 revision increased the value significantly to Rs 1,200 per sq.ft, and the most recent 2024 revision raised it further to Rs 1,321 per sq.ft.

In terms of percentage changes, the value increased by 10% from 2023 to 2024. Between 2017 and 2023, there was a notable increase of 49%. However, the value decreased by 33% from the 2012 to the 2017 revision. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in this village is Rs 1,100 per sq.ft, placing Nammalwar Street's 2024 figure above that median.

• Nalliagodan Street (Ward -6): Rs 1,321 per sq.ft (2024)
• Nanmullaiyar Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Nanthanar Street (Ward -7): Rs 1,760 per sq.ft (2024)
• Nakkeeran Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Nainar Mohamed Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -8): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Nammalwar Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420. Together, these fees would total Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nammalwar Street (Ward -5)?

The Sub Registrar Office that covers Nammalwar Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Ninna Karai. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that these costs are calculated based on a standardized value.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the overall expenses involved in a property transaction. Accurate knowledge of these values can help in financial planning and understanding the costs associated with property registration.

Frequently asked questions

What is the current guideline value of Nammalwar Street (Ward -5)?

The current guideline value of Nammalwar Street (Ward -5) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years for Nammalwar Street?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,321 per sq.ft in 2024.

What are the stamp duty and registration fees for a property in Nammalwar Street?

For a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470, and the registration fee would be Rs 26,420, totaling Rs 1,18,890.

Which office handles registrations for Nammalwar Street?

The Chengleput Joint II Sub Registrar Office handles registrations for Nammalwar Street (Ward -5), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the land classification for Nammalwar Street?

The land classification for Nammalwar Street (Ward -5) is Residential Special Type - V.