Guideline Value for NESAVALAR COLONY

Nesavalar Colony guideline value

The current guideline value for Nesavalar Colony, located in Perambur village under the Purasaivakkam SRO, is Rs 4,300 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nesavalar Colony has changed

Over the years, the guideline value of Nesavalar Colony has seen significant changes. The 2007 revision set the value at Rs 800 per sq.ft, which increased dramatically to Rs 4,000 per sq.ft in 2012, marking a 400% rise. However, in 2017, the value dropped to Rs 2,680 per sq.ft, a decrease of 33%. The 2023 revision brought the value back up to Rs 4,000 per sq.ft, and the most recent 2024 revision has set it at Rs 4,300 per sq.ft, reflecting an 8% increase from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, from the 2007 revision to the current 2024 figure, the guideline value has increased by 438%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Perambur

In Perambur, there are 1,114 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, making the current value of Rs 4,300 per sq.ft for Nesavalar Colony above the median.

• Nesavalar Colony 10th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 11th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 12th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 13th Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 1st Street: Rs 4,300 per sq.ft (2024)
• Nesavalar Colony 2nd Street: Rs 4,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nesavalar Colony

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 be 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 the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nesavalar Colony?

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

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

The guideline value is a crucial factor in property transactions in Perambur, as it determines the minimum value at which properties can be registered. When buying or selling a property, the guideline value helps in calculating the stamp duty and registration fees that need to be paid during the registration process.

It is essential for buyers and sellers to be aware of the current guideline value to ensure compliance with legal requirements and to avoid any potential disputes during the transaction. The guideline value serves as a reference point for both parties involved in the property deal.

Frequently asked questions

What is the current guideline value of Nesavalar Colony?

The current guideline value of Nesavalar Colony 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 significantly, from Rs 800 per sq.ft in 2007 to Rs 4,300 per sq.ft in 2024, marking an overall increase of 438%.

What is the land classification for Nesavalar Colony?

The land classification for Nesavalar Colony is Residential Class II Type - I.

What are the stamp duty and registration fees for property in Nesavalar Colony?

For a property valued at Rs 43,00,000, the stamp duty is Rs 3,01,000 and the registration fee is Rs 86,000, totaling Rs 3,87,000.

Where is the Sub Registrar Office for Nesavalar Colony located?

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