Guideline Value for NESAVALAR COLONY 7TH STREET

Nesavalar Colony 7th Street guideline value

The current guideline value of Nesavalar Colony 7th 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 falls under the Residential Class II Type - I land classification.

How the guideline value of Nesavalar Colony 7th Street has changed

In the 2012 revision, the guideline value was Rs 4,000 per sq.ft. This figure decreased to Rs 2,680 per sq.ft in the 2017 revision, marking a decline of 33%. However, the most recent revision in 2024 has seen an increase to Rs 4,300 per sq.ft, representing a 60% rise from the 2017 figure.

Overall, from the 2012 revision to the 2024 revision, there has been 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, the guideline values for 2024 range from Rs 1,600 to Rs 7,100 per sq.ft across 1114 streets under the Purasaivakkam SRO, with a median value of Rs 2,700 per sq.ft. The guideline value for Nesavalar Colony 7th Street is above this median.

• Nesavalar Colony 6th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 8th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 5th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 9th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 4th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony North Avenue: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nesavalar Colony 7th Street

For a 1,000 sq.ft plot at the current rate of Rs 4,300 per sq.ft, the 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, totaling Rs 3,87,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Nesavalar Colony 7th Street?

The Sub Registrar Office that covers Nesavalar Colony 7th 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 in Perambur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction reflects a fair value for tax purposes.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees, which are mandatory for completing the transaction. It is essential for both buyers and sellers to be aware of the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nesavalar Colony 7th Street?

The current guideline value of Nesavalar Colony 7th 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. This represents a decline from 2012 to 2017 and a significant rise from 2017 to 2024.

What are the guideline values for other streets in Perambur?

Other streets in Perambur have a guideline value of Rs 4,300 per sq.ft in 2024, including Nesavalar Colony 6th, 8th, 5th, 9th, 4th Streets, and North Avenue.

How is stamp duty calculated for properties in Nesavalar Colony 7th 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 Rs 4,300 per sq.ft incurs a total stamp duty and registration fee of Rs 3,87,000.

Where can I find the Sub Registrar Office for Nesavalar Colony 7th Street?

The Sub Registrar Office for Nesavalar Colony 7th Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.