Guideline Value for NANMULLAIYAR STREET (WARD -7)

Nanmullaiyar Street (Ward -7) guideline value

The current guideline value of Nanmullaiyar Street (Ward -7) 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 Nanmullaiyar Street (Ward -7) has changed

The guideline value for Nanmullaiyar Street has undergone several revisions over the years. In 2012, the guideline value was Rs 1,200 per sq.ft. This figure remained unchanged until the 2017 revision, which saw a decrease to Rs 804 per sq.ft. However, from 2017 to 2023, the value increased significantly to Rs 1,200 per sq.ft, marking a 49% rise. The most recent revision in 2024 set the guideline value at Rs 1,321 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

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

• Nanthanar Street (Ward -7): Rs 1,760 per sq.ft (2024)
• Nammalwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• Nalliagodan Street (Ward -6): Rs 1,321 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 Nanmullaiyar Street (Ward -7)

For a 1,000 sq.ft plot at the current rate of Rs 1,321 per sq.ft, the guideline value amounts to Rs 13,21,000. The stamp duty at 7% would be Rs 92,470, and the registration fee at 2% would be Rs 26,420, totaling Rs 1,18,890. It is essential to note that 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 Nanmullaiyar Street (Ward -7)?

The Sub Registrar Office that covers Nanmullaiyar Street 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 is a crucial factor during the registration process of property transactions. It serves as a benchmark for determining the stamp duty and registration fees that buyers must pay when purchasing property in Ninna Karai.

When selling property, the guideline value ensures that the transaction is recorded at a value that reflects the official rates set by the government. This helps in maintaining transparency and accountability in property dealings.

Frequently asked questions

What is the current guideline value of Nanmullaiyar Street (Ward -7)?

The current guideline value of Nanmullaiyar Street (Ward -7) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

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

What is the land classification for Nanmullaiyar Street?

The land classification for Nanmullaiyar Street (Ward -7) is Residential Special Type - V.

What are the stamp duty and registration fees for property on this 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 property registrations for Nanmullaiyar Street?

The Chengleput Joint II Sub Registrar Office handles property registrations for Nanmullaiyar Street, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.