Guideline Value for NELLIKKARAN STREET

Nellikkaran Street guideline value

The current guideline value of Nellikkaran Street is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Thiruvottiyur village, under the Thiruvottiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Nellikkaran Street has changed

The guideline value for Nellikkaran Street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft in 2012. However, in 2017, it saw a decrease to Rs 2,010 per sq.ft. The value then rose to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. The changes between these revisions include a remarkable increase of 400% from 2007 to 2012, a decrease of 33% from 2012 to 2017, and a subsequent increase of 49% from 2017 to 2023, followed by a 10% increase from 2023 to 2024.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Nellikkaran Street.

Guideline values in Thiruvottiyur

In Thiruvottiyur, there are 177 streets under the Thiruvottiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 8,600 per sq.ft. The median value among these streets is Rs 3,300 per sq.ft, which is equal to the current guideline value of Nellikkaran Street.

• Nethaji Nagar /Streets: Rs 3,300 per sq.ft (2024)
• Nehru Nagar: Rs 1,500 per sq.ft (2024)
• Nataraja Gramani Thottam Street: Rs 3,300 per sq.ft (2024)
• North Mada Street: Rs 3,700 per sq.ft (2024)
• North Railway Station Road: Rs 3,300 per sq.ft (2024)
• Nandi Odai Street: Rs 2,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nellikkaran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee, charged at 2%, would be Rs 66,000. Together, the total cost for these fees would be Rs 2,97,000. It is important to note that the 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 Nellikkaran Street?

The Sub Registrar Office that covers Nellikkaran Street is the Thiruvottiyur Sub Registrar Office, located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Thiruvottiyur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property transactions.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, which are essential costs associated with the transfer of ownership. Buyers and sellers must be aware of the guideline value to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Nellikkaran Street?

The current guideline value of Nellikkaran Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of 450% over the years.

What is the stamp duty rate for properties in Nellikkaran Street?

The stamp duty rate for properties in Nellikkaran Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Thiruvottiyur Sub Registrar Office located?

The Thiruvottiyur Sub Registrar Office is located at 21/8, Market Lane Kaladipet, Thiruvottiyur, Chennai-600019.

What is the median guideline value for streets in Thiruvottiyur?

The median guideline value for streets in Thiruvottiyur is Rs 3,300 per sq.ft, which is the same as the current guideline value for Nellikkaran Street.