Guideline Value for NESAVALAR COLONY 12TH STREET

Nesavalar Colony 12th Street guideline value

The current guideline value of Nesavalar Colony 12th Street is Rs 4,300 per sq.ft, effective from 1 July 2024. This street is located in Perambur village, under the jurisdiction of the Purasaivakkam SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nesavalar Colony 12th Street has changed

The guideline value for Nesavalar Colony 12th Street has undergone several revisions over the years. The earliest recorded revision was in 2012, with a guideline value of Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in 2017. In 2023, the value increased to Rs 4,000 per sq.ft, and the most recent revision in 2024 set the value at Rs 4,300 per sq.ft.

Between the revisions, there have been notable changes. From 2012 to 2017, the value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. The change from 2023 to 2024 reflects an 8% increase. Overall, from 2012 to 2024, the guideline value has increased by 8%.

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. The median value among these streets is Rs 2,700 per sq.ft, positioning Nesavalar Colony 12th Street above this median.

• Nesavalar Colony 11th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 13th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 10th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 1st Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony: 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 12th 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, bringing the total to Rs 3,87,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nesavalar Colony 12th Street?

The Sub Registrar Office that covers Nesavalar Colony 12th 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 critical factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the transaction.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used for calculating the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nesavalar Colony 12th Street?

The current guideline value of Nesavalar Colony 12th 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 in 2012 to Rs 2,680 in 2017, then back to Rs 4,000 in 2023, and finally to Rs 4,300 in 2024, showing fluctuations over the years.

What is the land classification for Nesavalar Colony 12th Street?

The land classification for Nesavalar Colony 12th Street is Residential Class II Type - I.

Where can I find the Sub Registrar Office for Nesavalar Colony 12th Street?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for property transactions?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. The rates are typically 7% for stamp duty and 2% for registration fees.