Guideline Value for NOOKAMPALAYAM PILLAIYAR KOIL STREET

Nookampalayam Pillaiyar Koil Street guideline value

The current guideline value of Nookampalayam Pillaiyar Koil Street is Rs 2,725 per sq.ft, effective from 1 July 2024. This street is located in Perumbakkam village, under the Selaiyur SRO, and is classified as Residential Special Type - I.

How the guideline value of Nookampalayam Pillaiyar Koil Street has changed

The guideline value for Nookampalayam Pillaiyar Koil 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. Following this, the value increased significantly to Rs 2,500 per sq.ft in 2023, and the latest revision in 2024 has set it at Rs 2,725 per sq.ft.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a rise of 9%. Overall, comparing the 2012 and 2024 revisions, 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, with guideline values ranging from Rs 850 to Rs 4,800 per sq.ft. The median guideline value is Rs 2,725 per sq.ft, which is the same as the current value for Nookampalayam Pillaiyar Koil Street.

• Nookampalayam Periya Palayathamman Koil Street: Rs 2,725 per sq.ft (2024)
• Nookampalayam Subash Chandra Bose Street: Rs 2,725 per sq.ft (2024)
• Nookampalayam Padasalai Street: Rs 2,725 per sq.ft (2024)
• Nookampalayam Padasalai Cross Street: Rs 2,725 per sq.ft (2024)
• Nookampalayam Main Road: Rs 2,725 per sq.ft (2024)
• Nookampalayam Kattabomman Street: Rs 2,725 per sq.ft (2024)

Stamp duty and registration fee for property in Nookampalayam Pillaiyar Koil 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, while the registration fee at 2% would be Rs 54,500. Together, the total fees would be 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.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nookampalayam Pillaiyar Koil Street?

The Sub Registrar Office that covers Nookampalayam Pillaiyar Koil 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 critical factor when registering property transactions in Perumbakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, both the buyer and seller must consider the guideline value to ensure compliance with legal requirements. This value helps in assessing the financial obligations associated with the transaction, such as stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Nookampalayam Pillaiyar Koil Street?

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

How has the guideline value changed over the years?

The guideline value has seen various revisions, with the most recent increase from Rs 2,500 per sq.ft in 2023 to Rs 2,725 per sq.ft in 2024, marking a 9% increase. The value also decreased from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017 before rising again.

What is the land classification of Nookampalayam Pillaiyar Koil Street?

Nookampalayam Pillaiyar Koil Street is classified as Residential Special Type - I, indicating its suitability for residential development.

What fees are associated with property transactions in this area?

When registering property in Nookampalayam Pillaiyar Koil Street, buyers must pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nookampalayam Pillaiyar Koil Street?

The Selaiyur Sub Registrar Office covers Nookampalayam Pillaiyar Koil Street and is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.