Guideline Value for NSK Salai

NSK Salai guideline value

The current guideline value of NSK Salai is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Selavoyal village under the Madhavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of NSK Salai has changed

The guideline value of NSK Salai has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in 2017. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the latest 2024 revision has raised it further to Rs 2,700 per sq.ft. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Between the revisions, there have been notable changes. From 2017 to 2023, the guideline value increased by 49%. The change from 2023 to 2024 reflects an 8% increase. Overall, from 2012 to 2024, the guideline value has increased by 8%.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. NSK Salai's 2024 figure of Rs 2,700 per sq.ft is above this median.

• New Jai Balaji Nagar Extension: Rs 1,900 per sq.ft (2024)
• New Jai Balaji Nagar: Rs 1,900 per sq.ft (2024)
• Nethaji Nagar 1st Street: Rs 1,900 per sq.ft (2024)
• Palli Street: Rs 1,900 per sq.ft (2024)
• Pallpannai Salai 1st Cross Street: Rs 1,900 per sq.ft (2024)
• Pallpannai Salai 2nd Cross Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in NSK Salai

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. 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 NSK Salai?

The NSK Salai is covered by the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Selavoyal. It determines the minimum value at which a property can be registered and affects the stamp duty and registration fees payable during the transaction.

When a property is sold, the buyer must ensure that the sale price is at least equal to the guideline value. If the sale price is lower than the guideline value, the duty will be calculated based on the guideline value instead.

Frequently asked questions

What is the current guideline value of NSK Salai?

The current guideline value of NSK Salai is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What are the other streets in Selavoyal and their guideline values?

Other streets in Selavoyal include New Jai Balaji Nagar Extension, New Jai Balaji Nagar, Nethaji Nagar 1st Street, Palli Street, Pallpannai Salai 1st Cross Street, and Pallpannai Salai 2nd Cross Street, all with a guideline value of Rs 1,900 per sq.ft in 2024.

What are the stamp duty and registration fees for property in NSK Salai?

For a property valued at Rs 27,00,000, the stamp duty is Rs 1,89,000 and the registration fee is Rs 54,000, totaling Rs 2,43,000. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for NSK Salai?

The Madhavaram Sub Registrar Office handles the registration for NSK Salai, located at No.7, Roja Nagar, Madhavaram, Chennai-600060.