Guideline Value for NESAVALAR COLONY 8TH STREET

Nesavalar Colony 8th Street guideline value

The current guideline value of Nesavalar Colony 8th 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 8th Street has changed

The guideline value for Nesavalar Colony 8th Street has undergone several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 4,000 per sq.ft. This was followed by a decrease to Rs 2,680 per sq.ft in the 2017 revision. However, the most recent revision in 2024 saw a significant increase to Rs 4,300 per sq.ft, marking a 60% rise from the 2017 figure.

From 2012 to 2017, there was a decline of 33% in the guideline value. Overall, from 2012 to 2024, the guideline value has increased by 8%. It is important to note that 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 have a 2024 guideline value ranging from Rs 1,600 to Rs 7,100 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Nesavalar Colony 8th Street is above this median.

• Nesavalar Colony 7th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 9th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 6th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony North Avenue: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 5th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 4th Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nesavalar Colony 8th 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, making the total cost Rs 3,87,000. It is important to note that 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 more details.

Which Sub Registrar Office covers Nesavalar Colony 8th Street?

The Sub Registrar Office that covers Nesavalar Colony 8th 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 of property transactions in Perambur. It is used to determine the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nesavalar Colony 8th Street?

The current guideline value of Nesavalar Colony 8th 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. The overall change from 2012 to 2024 is an increase of 8%.

What is the land classification for Nesavalar Colony 8th Street?

Nesavalar Colony 8th Street is classified as Residential Class II Type - I.

Where can I find the Sub Registrar Office for Nesavalar Colony 8th Street?

The Purasaivakkam Sub Registrar Office is located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is the stamp duty calculated for properties in Nesavalar Colony 8th Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 43,00,000, the stamp duty would be Rs 3,01,000 at 7%.