Guideline Value for NESAVALAR COLONY 2ND STREET

Nesavalar Colony 2nd Street guideline value

The current guideline value of Nesavalar Colony 2nd 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 2nd Street has changed

The guideline value for Nesavalar Colony 2nd Street has undergone several revisions over the years. In 2012, the guideline value was Rs 4,000 per sq.ft, which then decreased to Rs 2,680 per sq.ft in 2017. This marked a decrease of 33%. However, in the 2024 revision, the value increased significantly to Rs 4,300 per sq.ft, reflecting a 60% rise from the 2017 figure.

Overall, from 2012 to 2024, the guideline value has seen a slight increase of 8%. It is important to note that the register has no figures for the years 2023, 2007, 2003, and 2002 for this street.

Guideline values in Perambur

In Perambur, there are 1114 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, placing the 2024 figure for Nesavalar Colony 2nd Street above that median.

• Nesavalar Colony 1st Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 3rd Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 13th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 4th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 12th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 5th Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nesavalar Colony 2nd 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, 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.

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

Which Sub Registrar Office covers Nesavalar Colony 2nd Street?

Nesavalar Colony 2nd Street falls under the jurisdiction of 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 plays a crucial role in property transactions in Perambur. It is used to determine the stamp duty and registration fees that are applicable when a property is bought or sold. The guideline value serves as a benchmark for the minimum price at which a property can be registered.

When selling a property, it is essential to be aware of the guideline value, as it influences the overall cost of the transaction. Buyers should also consider the guideline value to ensure they are making informed decisions during the purchasing process.

Frequently asked questions

What is the current guideline value of Nesavalar Colony 2nd Street?

The current guideline value of Nesavalar Colony 2nd 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, and then increased to Rs 4,300 per sq.ft in 2024.

What is the land classification for Nesavalar Colony 2nd Street?

Nesavalar Colony 2nd Street is classified as Residential Class II Type - I.

Where can I find the Purasaivakkam Sub Registrar Office?

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

How is stamp duty calculated for properties in Nesavalar Colony 2nd Street?

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