Guideline Value for NOOKAMPALAYAM KAMARAJAR STREET

Nookampalayam Kamarajar Street guideline value

The current guideline value of Nookampalayam Kamarajar Street is Rs 2,725 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur Sub Registrar Office (SRO). The land classification for this area is Residential Special Type - I.

How the guideline value of Nookampalayam Kamarajar Street has changed

The guideline value for Nookampalayam Kamarajar Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. However, the value increased significantly in the 2023 revision to Rs 2,500 per sq.ft, and further rose to Rs 2,725 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

Between the 2017 and 2023 revisions, the value saw a substantial increase of 49%. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 9%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumbakkam

In Perumbakkam, there are 225 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 850 to Rs 4,800 per sq.ft. The median value among these streets is Rs 2,725 per sq.ft, which is equal to the guideline value of Nookampalayam Kamarajar Street.

• Nookampalayam Eswaran Street: Rs 2,725 per sq.ft (2024)
• Nookampalayam Kannadasan Street: Rs 2,725 per sq.ft (2024)
• Nookampalayam Bharathidasan Street: Rs 2,725 per sq.ft (2024)
• Nookampalayam Kattabomman Street: Rs 2,725 per sq.ft (2024)
• Nookampalayam Arasan Kalani Main Road: Rs 2,725 per sq.ft (2024)
• Nookampalayam Main Road: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Nookampalayam Kamarajar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,725 per sq.ft, the total guideline value would be Rs 27,25,000. The stamp duty at 7% would amount to Rs 1,90,750, and the registration fee at 2% would be Rs 54,500, totaling Rs 2,45,250. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nookampalayam Kamarajar Street?

The Sub Registrar Office that covers Nookampalayam Kamarajar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perumbakkam. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty, which is charged at a percentage of the higher value between the guideline value and the sale price. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nookampalayam Kamarajar Street?

The current guideline value of Nookampalayam Kamarajar Street is Rs 2,725 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen various revisions. It was Rs 2,500 per sq.ft in 2012, dropped to Rs 1,675 per sq.ft in 2017, and then increased to Rs 2,500 per sq.ft in 2023, before rising to Rs 2,725 per sq.ft in 2024.

What is the land classification for Nookampalayam Kamarajar Street?

The land classification for Nookampalayam Kamarajar Street is Residential Special Type - I, indicating its suitability for residential development.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

What is the stamp duty rate for property transactions in Nookampalayam Kamarajar Street?

The stamp duty rate for property transactions in Nookampalayam Kamarajar Street is 7% of the guideline value or the sale price, whichever is higher.