Guideline Value for NERKUNDRAM 1ST CROSS STREET

Nerkundram 1st Cross Street guideline value

The current guideline value of Nerkundram 1st Cross Street is Rs 5,000 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village, under the Kodambakkam Sub Registrar Office (SRO) jurisdiction. The land classification for this area is Residential Class III Type - I.

How the guideline value of Nerkundram 1st Cross Street has changed

The guideline value for Nerkundram 1st Cross Street has undergone several revisions over the years. The earliest recorded revision was in 2003, where the guideline value was set at Rs 841 per sq.ft. This figure saw a significant increase in the 2012 revision, which raised the value to Rs 4,600 per sq.ft, marking a substantial change of 447%. The most recent revision in 2024 has further increased the guideline value to Rs 5,000 per sq.ft, reflecting a 9% rise from the 2012 figure.

It is important to note that there are no recorded figures for the years 2002, 2007, 2017, and 2023 for Nerkundram 1st Cross Street. Overall, from the 2003 revision to the 2024 revision, the guideline value has increased by 495%.

Guideline values in Puliyur

In Puliyur village, there are a total of 648 streets under the Kodambakkam SRO that have a guideline value for 2024, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median guideline value for these streets is Rs 5,800 per sq.ft, placing Nerkundram 1st Cross Street's 2024 figure below that median.

• Nerkundram Pathai: Rs 6,300 per sq.ft (2024)
• Nelson Manickam Road: Rs 11,000 per sq.ft (2024)
• Nehru Street (Choolaimedu High Road East Side): Rs 5,300 per sq.ft (2024)
• Nehru Street (Anna Nedumpathai Left Side): Rs 5,000 per sq.ft (2024)
• New Arockiasamy Street: Rs 3,800 per sq.ft (2024)
• Neelakandan Street: Rs 5,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nerkundram 1st Cross Street

For a property measuring 1,000 sq.ft at the current guideline value of Rs 5,000 per sq.ft, the total guideline value would be Rs 50,00,000. The stamp duty, charged at 7%, would amount to Rs 3,50,000, while the registration fee at 2% would be Rs 1,00,000. Thus, the total cost for stamp duty and registration would be Rs 4,50,000. It is important to note that duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nerkundram 1st Cross Street?

The Nerkundram 1st Cross Street falls under the jurisdiction of the Kodambakkam Sub Registrar Office. The office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process of property transactions in Puliyur. When a property is bought or sold, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the transaction is recorded accurately and that the correct taxes are paid to the government.

It is essential for buyers and sellers to be aware of the guideline value, as it affects 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 Nerkundram 1st Cross Street?

The current guideline value of Nerkundram 1st Cross Street is Rs 5,000 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 841 per sq.ft in 2003 to Rs 5,000 per sq.ft in 2024, reflecting an overall increase of 495%.

What is the land classification for Nerkundram 1st Cross Street?

Nerkundram 1st Cross Street is classified as Residential Class III Type - I. This classification is important for determining the guideline value and related regulations.

Where can I find the Kodambakkam Sub Registrar Office?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. This office handles all registration activities for the area.

How is stamp duty calculated for properties in Puliyur?

Stamp duty for properties in Puliyur is calculated based on the guideline value or the sale price, whichever is higher. The current rate is 7% for stamp duty and 2% for the registration fee.