Guideline Value for NESAVALAR COLONY 1ST STREET

Nesavalar Colony 1st Street guideline value

The current guideline value of Nesavalar Colony 1st 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 1st Street has changed

The guideline value for Nesavalar Colony 1st Street has undergone several revisions over the years. In 2012, the guideline value was Rs 4,000 per sq.ft, which decreased to Rs 2,680 per sq.ft in the 2017 revision. This marked a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly to Rs 4,300 per sq.ft, representing a rise of 60%. Overall, from 2012 to 2024, there has been a marginal increase of 8%.

It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2023 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. The median guideline value for these streets is Rs 2,700 per sq.ft, making the 2024 figure for Nesavalar Colony 1st Street above this median.

• Nesavalar Colony 13th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 2nd Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 12th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 3rd Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 11th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 4th Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nesavalar Colony 1st 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 also use the stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nesavalar Colony 1st Street?

The Sub Registrar Office covering Nesavalar Colony 1st 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 need to be paid during the transaction.

When a property is registered, the guideline value helps ensure that the transaction is recorded at a fair value, reflecting the current market conditions as per the registration department's guidelines.

Frequently asked questions

What is the current guideline value of Nesavalar Colony 1st Street?

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

How has the guideline value changed over the years?

Since 2012, the guideline value has changed from Rs 4,000 per sq.ft to Rs 2,680 per sq.ft in 2017, and then increased to Rs 4,300 per sq.ft in 2024. This reflects a decline from 2012 to 2017 and a significant increase from 2017 to 2024.

What is the registration office for Nesavalar Colony 1st Street?

The registration office for Nesavalar Colony 1st Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Nesavalar Colony 1st Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the guideline value of Rs 4,300 per sq.ft would incur a stamp duty of Rs 3,01,000.

What is the land classification for Nesavalar Colony 1st Street?

Nesavalar Colony 1st Street falls under the Residential Class II Type - I land classification, which is relevant for property transactions in this area.