Guideline Value for NESAVALAR COLONY 6TH STREET

Nesavalar Colony 6th Street guideline value

The current guideline value of Nesavalar Colony 6th 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 6th 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, representing a decline of 33%. However, from 2017 to the 2024 revision, the value increased significantly by 60%, bringing it to the current rate of Rs 4,300 per sq.ft.

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

Guideline values in Perambur

In Perambur village, there are 1114 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 value for these streets is Rs 2,700 per sq.ft, which means that Nesavalar Colony 6th Street's 2024 guideline value is above the median.

• Nesavalar Colony 5th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 7th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 4th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 8th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 3rd Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 9th Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nesavalar Colony 6th 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 cost 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 also use our stamp duty and registration fee calculator for more precise calculations.

Which Sub Registrar Office covers Nesavalar Colony 6th Street?

The Sub Registrar Office that covers Nesavalar Colony 6th 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 in the registration process of property transactions in Perambur. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring that the government receives appropriate revenue from stamp duties and registration fees.

When buying or selling property, the guideline value helps both parties understand the official value of the property, which aids in negotiations and ensures compliance with legal requirements. It is essential for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nesavalar Colony 6th Street?

The current guideline value of Nesavalar Colony 6th 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, then increased to Rs 4,300 per sq.ft in 2024. Overall, from 2012 to 2024, there has been an increase of 8%.

Where can I find the registration office for Nesavalar Colony 6th Street?

The registration office for Nesavalar Colony 6th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

What is the stamp duty rate for properties in Nesavalar Colony 6th Street?

The stamp duty rate for properties in Nesavalar Colony 6th Street is 7% of the guideline value or the sale price, whichever is higher.

How does the guideline value affect property transactions?

The guideline value affects property transactions by establishing a minimum value for registration, which ensures that the appropriate stamp duty and registration fees are collected. It is essential for both buyers and sellers to consider the guideline value during negotiations and registration.