Guideline Value for NANDHAKUMAR STREET, THAILAVARAM (WARD-21)

Nandhakumar Street, Thailavaram (Ward-21) guideline value

The current guideline value of Nandhakumar Street, Thailavaram (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024. This street falls under Potheri village and is classified as Residential Class II Type - I, managed by the Chengleput Joint II SRO.

How the guideline value of Nandhakumar Street, Thailavaram (Ward-21) has changed

The guideline value has seen several revisions over the years. The 2012 revision set the value at Rs 600 per sq.ft, which was then reduced to Rs 402 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased significantly to Rs 600 per sq.ft in the 2023 revision and further rose to Rs 660 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not include figures for the years 2002, 2003, and 2007 for Nandhakumar Street.

Guideline values in Potheri

Potheri village has a total of 129 streets under the Chengleput Joint II SRO, with 2024 guideline values ranging from Rs 440 to Rs 2,970 per sq.ft. The median value for these streets is Rs 770 per sq.ft, placing Nandhakumar Street's 2024 figure below this median.

• Narasimman Nagar (Ward-21): Rs 1,980 per sq.ft (2024)
• Narasimman Street (Ward-21): Rs 660 per sq.ft (2024)
• Neenjili Amman Koil Stret (Ward-21): Rs 660 per sq.ft (2024)
• Muthulinga Devar Street (Ward-21): Rs 660 per sq.ft (2024)
• Nehru Street(Ward-21): Rs 660 per sq.ft (2024)
• Mooppanar Street (Ward-20): Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Nandhakumar Street, Thailavaram (Ward-21)

For a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft, the total guideline value amounts to Rs 6,60,000. The stamp duty at 7% would be Rs 46,200, while the registration fee at 2% would be Rs 13,200, bringing the total fees to Rs 59,400. 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 Nandhakumar Street, Thailavaram (Ward-21)?

The Sub Registrar Office that covers Nandhakumar Street, Thailavaram (Ward-21) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Potheri, as it determines the minimum value at which a property can be registered. When buying or selling a property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that both parties adhere to the legal requirements set by the Registration Department.

It is essential for buyers and sellers to be aware of the current guideline value, as it impacts the overall cost of the transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Nandhakumar Street, Thailavaram (Ward-21)?

The current guideline value of Nandhakumar Street, Thailavaram (Ward-21) is Rs 660 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 600 per sq.ft in 2012 to Rs 402 per sq.ft in 2017, then back to Rs 600 per sq.ft in 2023, and finally to Rs 660 per sq.ft in 2024. The overall change from 2012 to 2024 is an increase of 10%.

What is the land classification of Nandhakumar Street?

Nandhakumar Street is classified as Residential Class II Type - I. This classification is important for determining the permissible uses of the land.

Where can I find the Chengleput Joint II SRO?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Nandhakumar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value of Rs 660 per sq.ft would incur a total guideline value of Rs 6,60,000, leading to specific stamp duty and registration fees.