Guideline Value for NESAVALAR COLONY 10TH STREET

Nesavalar Colony 10th Street guideline value

The current guideline value for Nesavalar Colony 10th Street is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class II Type - I.

How the guideline value of Nesavalar Colony 10th Street has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, in the 2023 revision, the value increased significantly to Rs 4,000 per sq.ft, followed by a further increase to Rs 4,300 per sq.ft in 2024, reflecting an 8% rise from the previous year.

From 2017 to 2023, the value saw a notable increase of 49%. Overall, comparing the figures from 2012 to 2024, there has been an 8% increase in the guideline value. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 streets under the Purasaivakkam SRO that carry a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Nesavalar Colony 10th Street is above this median.

• Nesavalar Colony: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 11th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 12th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 13th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 1st Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 2nd Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nesavalar Colony 10th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value amounts to Rs 43,00,000. The stamp duty at 7% would be Rs 3,01,000, and the registration fee at 2% would be Rs 86,000, totaling Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can calculate your fees using our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nesavalar Colony 10th Street?

The Sub Registrar Office that covers Nesavalar Colony 10th Street is 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 Perambur

The guideline value is a crucial factor in property transactions in Perambur, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware that the guideline value is used to calculate the stamp duty and registration fees applicable to the property transaction.

When a property is sold, the guideline value serves as a benchmark for the transaction, ensuring that the property is registered at a value that reflects the prevailing market conditions as assessed by the authorities. This helps in maintaining transparency and standardization in property dealings.

Frequently asked questions

What is the current guideline value for Nesavalar Colony 10th Street?

The current guideline value for Nesavalar Colony 10th Street is Rs 4,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017, then increased to Rs 4,000 per sq.ft in 2023, and finally to Rs 4,300 per sq.ft in 2024.

What is the land classification for Nesavalar Colony 10th Street?

Nesavalar Colony 10th Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Nesavalar Colony 10th Street is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 43,00,000, the stamp duty at 7% would be Rs 3,01,000.