Guideline Value for NESAVALLAR NAGAR /KAMARAJAR STREET

Nesavallar Nagar /Kamarajar Street guideline value

The current guideline value for Nesavallar Nagar /Kamarajar Street is Rs 1,870 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village under the Chennai South Joint I SRO, classified as Residential Class III Type - I.

How the guideline value of Nesavallar Nagar /Kamarajar Street has changed

The guideline value for this street has seen several revisions over the years. In 2007, the value was Rs 820 per sq.ft, which increased significantly to Rs 1,700 per sq.ft in 2012. However, it decreased to Rs 1,139 per sq.ft in 2017, before rising again to Rs 1,700 per sq.ft in 2023. The latest revision in 2024 set the guideline value at Rs 1,870 per sq.ft, marking a 10% increase from the previous year.

Between the 2017 and 2023 revisions, the value increased by 49%. The overall increase from the 2007 revision to the 2024 revision is 128%. It is important to note that there are no figures available for the years 2002 and 2003 for this street in the register.

Guideline values in Jelandianpettai

In Jelandianpettai, there are a total of 248 streets under the Chennai South Joint I SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means that the guideline value for Nesavallar Nagar /Kamarajar Street is below this median.

• Nesavalar Nagar -West Street: Rs 1,320 per sq.ft (2024)
• Nesavalar Nagar V.O.C Street: Rs 1,320 per sq.ft (2024)
• Nesavalar Nagar- Mgr Street: Rs 1,320 per sq.ft (2024)
• Nehru Street: Rs 1,650 per sq.ft (2024)
• Nethaji Street: Rs 3,300 per sq.ft (2024)
• Nagathamman Koil Street: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Nesavallar Nagar /Kamarajar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,870 per sq.ft, the total guideline value amounts to Rs 18,70,000. The stamp duty at 7% would be Rs 1,30,900, and the registration fee at 2% would be Rs 37,400, bringing the total fees to Rs 1,68,300. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nesavallar Nagar /Kamarajar Street?

The Sub Registrar Office that covers Nesavallar Nagar /Kamarajar Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Jelandianpettai. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When a property is sold, the sale price is compared to the guideline value. The higher of the two values is used to calculate the applicable stamp duty, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Nesavallar Nagar /Kamarajar Street?

The current guideline value for Nesavallar Nagar /Kamarajar Street is Rs 1,870 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has increased from Rs 820 per sq.ft in 2007 to Rs 1,870 per sq.ft in 2024, marking an overall increase of 128% over this period.

What are the stamp duty and registration fees for property in this area?

For a 1,000 sq.ft plot at the current guideline value, the total fees would amount to Rs 1,68,300, including a stamp duty of Rs 1,30,900 and a registration fee of Rs 37,400.

Which office handles property registrations in this area?

The Chennai South Joint I Sub Registrar Office handles property registrations for Nesavallar Nagar /Kamarajar Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

What is the median guideline value for streets in Jelandianpettai?

The median guideline value for streets in Jelandianpettai is Rs 2,200 per sq.ft, which is higher than the current guideline value of Rs 1,870 per sq.ft for Nesavallar Nagar /Kamarajar Street.