Guideline Value for NESAVALAR COLONY 11TH STREET

Nesavalar Colony 11th Street guideline value

The current guideline value of Nesavalar Colony 11th Street is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, and it falls under the Residential Class II Type - I land classification.

How the guideline value of Nesavalar Colony 11th Street has changed

The guideline value for Nesavalar Colony 11th Street has seen several revisions over the years. The earliest recorded revision was in 2012, setting the guideline value at Rs 4,000 per sq.ft. This was followed by a decrease in 2017, where the value dropped to Rs 2,680 per sq.ft. In 2023, the value increased to Rs 4,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 4,300 per sq.ft, marking an 8% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, there was a significant increase of 49% from 2017 to 2023. Overall, from 2012 to 2024, the guideline value has increased by 8%. 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, with guideline values ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value in this area is Rs 2,700 per sq.ft, which means that the 2024 guideline value of Nesavalar Colony 11th Street is above this median.

• Nesavalar Colony 10th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 12th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony: 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 11th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,300 per sq.ft, the total guideline value would be Rs 43,00,000. The stamp duty at 7% would amount to Rs 3,01,000, while the registration fee at 2% would be Rs 86,000. Together, the total cost for stamp duty and registration would be 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 also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nesavalar Colony 11th Street?

The Sub Registrar Office that covers Nesavalar Colony 11th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. For more information, you can find your SRO.

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

The guideline value is an essential factor when registering property transactions in Perambur. It serves as a baseline for determining the stamp duty and registration fees that need to be paid during the purchase or sale of property.

When buying or selling property, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are levied based on the established rates. This process is crucial for maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nesavalar Colony 11th Street?

The current guideline value of Nesavalar Colony 11th 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 2023 to Rs 4,300 per sq.ft in 2024, marking an 8% increase. It was Rs 2,680 per sq.ft in 2017 and Rs 4,000 per sq.ft in 2012.

What are the stamp duty and registration fees for property in Nesavalar Colony 11th Street?

For a property valued at Rs 43,00,000, the stamp duty would be Rs 3,01,000, and the registration fee would be Rs 86,000, totaling Rs 3,87,000. The duty is charged on the higher of the guideline value or the sale price.

Which office handles property registration for Nesavalar Colony 11th Street?

The Purasaivakkam Sub Registrar Office handles property registration for Nesavalar Colony 11th Street. It is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the land classification of Nesavalar Colony 11th Street?

Nesavalar Colony 11th Street is classified as Residential Class II Type - I. This classification is important for understanding the zoning and permitted uses of the property.