Guideline Value for NESAVALAR COLONY 3RD STREET

Nesavalar Colony 3rd Street guideline value

The current guideline value of Nesavalar Colony 3rd 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 3rd Street has changed

The guideline value for Nesavalar Colony 3rd Street has undergone several revisions over the years. The earliest recorded revision in 2012 set the value at Rs 4,000 per sq.ft, which decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent 2024 revision has seen a significant increase to Rs 4,300 per sq.ft, reflecting a rise of 60% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. It is important to note that there are no figures available for the years 2002, 2003, 2007, and 2023 for this street.

Guideline values in Perambur

In Perambur, the guideline values vary significantly, with a range from Rs 1,600 to Rs 7,100 per sq.ft as per the 2024 revision. The median value across the 1,114 streets in Perambur is Rs 2,700 per sq.ft, placing the guideline value of Nesavalar Colony 3rd Street above this median.

• Nesavalar Colony 1st Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 2nd Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 4th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 5th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 13th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 6th Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nesavalar Colony 3rd 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 cost for these fees 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nesavalar Colony 3rd Street?

The Sub Registrar Office that covers Nesavalar Colony 3rd 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 when registering property transactions in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the worth of the property in the eyes of the law. It is essential for buyers to be aware of these values to avoid overpaying and for sellers to price their properties competitively.

Frequently asked questions

What is the current guideline value of Nesavalar Colony 3rd Street?

The current guideline value of Nesavalar Colony 3rd 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 of Nesavalar Colony 3rd Street?

Nesavalar Colony 3rd Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Nesavalar Colony 3rd Street?

The Purasaivakkam Sub Registrar Office covers Nesavalar Colony 3rd Street and is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Nesavalar Colony 3rd 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 current guideline value would incur a total stamp duty and registration fee of Rs 3,87,000.