Guideline Value for NESAVALAR COLONY 4TH STREET

Nesavalar Colony 4th Street guideline value

The current guideline value of Nesavalar Colony 4th 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 is classified as Residential Class II Type - I.

How the guideline value of Nesavalar Colony 4th Street has changed

In the 2012 revision, the guideline value was set at Rs 4,000 per sq.ft. This figure decreased to Rs 2,680 per sq.ft in the 2017 revision, showing a decline of 33%. However, the guideline value saw a significant increase in the 2024 revision, rising to Rs 4,300 per sq.ft, which represents a 60% increase from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value increased by 8%. The register does not contain 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 4th 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 3rd 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 6th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 7th Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nesavalar Colony 4th 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 information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nesavalar Colony 4th Street?

The Sub Registrar Office that covers Nesavalar Colony 4th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more details.

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

The guideline value is a critical factor in property transactions in Perambur. It determines the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, the guideline value helps both buyers and sellers understand the official valuation of the property. It is essential for ensuring compliance with local regulations during the registration process.

Frequently asked questions

What is the current guideline value of Nesavalar Colony 4th Street?

The current guideline value of Nesavalar Colony 4th 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 decreased from Rs 4,000 per sq.ft in 2012 to Rs 2,680 per sq.ft in 2017. It then increased to Rs 4,300 per sq.ft in the 2024 revision.

What is the land classification for Nesavalar Colony 4th Street?

Nesavalar Colony 4th Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Nesavalar Colony 4th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in this area?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. The registration fee is charged at 2% of the guideline value.