Guideline Value for NANCY STREET

Nancy Street guideline value

The current guideline value of Nancy Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Purasaivakkam village, under the Purasaivakkam SRO, and is classified as Residential Class III Type - I.

How the guideline value of Nancy Street has changed

The guideline value for Nancy Street has undergone 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, marking a growth of 178%. However, it saw a decrease to Rs 3,350 per sq.ft in 2017, a decline of 33%. The value then rose sharply to Rs 5,000 per sq.ft in 2023, and subsequently to Rs 5,500 per sq.ft in 2024, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by 206%.

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 value is Rs 5,500 per sq.ft, which is equal to the guideline value of Nancy Street.

• Nammazhvar Chetty Street: Rs 5,500 per sq.ft (2024)
• Nammalwar Lane: 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 Nancy Street

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 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.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nancy Street?

Nancy Street falls under the jurisdiction of the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Purasaivakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is used to calculate the fees, ensuring that the transaction is documented accurately and in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nancy Street?

The current guideline value of Nancy Street 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 from Rs 1,800 per sq.ft in 2007 to Rs 5,500 per sq.ft in 2024, reflecting a total increase of 206% over the years.

What are the stamp duty rates for property in Nancy Street?

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

Where is the Purasaivakkam Sub Registrar Office located?

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

What is the land classification of Nancy Street?

Nancy Street is classified as Residential Class III Type - I, which is relevant for determining the guideline value and other regulatory aspects.