Guideline Value for NESAVALAR COLONY 5TH STREET

Nesavalar Colony 5th Street guideline value

The current guideline value of Nesavalar Colony 5th 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 5th Street has changed

The guideline value for Nesavalar Colony 5th Street has undergone several revisions over the years. The 2012 revision set the value at Rs 4,000 per sq.ft, which was then reduced to Rs 2,680 per sq.ft in the 2017 revision. This marked a decrease of 33%. However, the latest revision in 2024 has increased the guideline value to Rs 4,300 per sq.ft, reflecting a significant increase of 60% from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, the guideline value has seen a modest increase of 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, 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 for these streets is Rs 2,700 per sq.ft, placing the 2024 figure for Nesavalar Colony 5th Street above this median.

• Nesavalar Colony 4th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 6th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 3rd Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 7th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 2nd Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 8th Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nesavalar Colony 5th 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 and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nesavalar Colony 5th Street?

The Sub Registrar Office that covers Nesavalar Colony 5th 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 plays a crucial role when buying or selling property in Perambur. It serves as the benchmark for determining the stamp duty and registration fees, which are essential costs associated with property transactions.

When a property is registered, the guideline value is considered to ensure that the transaction is recorded at a fair value. This helps maintain transparency and accountability in property dealings, ensuring that all parties are aware of the financial implications involved.

Frequently asked questions

What is the current guideline value of Nesavalar Colony 5th Street?

The current guideline value of Nesavalar Colony 5th 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. There are no figures available for the years 2002, 2003, 2007, and 2023.

What is the land classification of Nesavalar Colony 5th Street?

Nesavalar Colony 5th Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 43,00,000, the stamp duty would be Rs 3,01,000, and the registration fee would be Rs 86,000, totaling Rs 3,87,000. The duty is charged on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office located for Nesavalar Colony 5th Street?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. This office handles registrations for properties in Nesavalar Colony 5th Street.