Guideline Value for NSK Street

NSK Street guideline value

The current guideline value of NSK Street, located in Velachery village, is Rs 4,400 per sq.ft as per the 2024 revision effective from 1 July 2024. This street falls under the Velacheri SRO and is classified as Residential Class II Type - II.

How the guideline value of NSK Street has changed

The guideline value of NSK Street has seen significant changes over the years. In the 2002 revision, the value was Rs 167 per sq.ft, which increased to Rs 1,500 per sq.ft in 2007, marking a substantial increase of 798%. The value then rose to Rs 4,000 per sq.ft in 2023, reflecting a 167% increase from the previous revision. The register has no figure for this street in 2012, 2017, and 2003.

From 2023 to 2024, the guideline value increased by 10%, bringing it to Rs 4,400 per sq.ft. Overall, from 2002 to 2024, the guideline value has increased by 2535%, demonstrating a significant rise in property values in this area.

Guideline values in Velachery

In Velachery, there are 2,691 streets under the Velacheri SRO, with guideline values ranging from Rs 3,300 to Rs 13,200 per sq.ft. The median guideline value for these streets is Rs 4,400 per sq.ft, which is equal to the guideline value of NSK Street for 2024.

• NSK Nagar 3rd Street / Nehru Nagar Part - 2: Rs 4,400 per sq.ft (2024)
• NSK Nagar 3rd Street: Rs 4,400 per sq.ft (2024)
• NSK Nagar 2nd Street / Nehru Nagar Part - 2: Rs 4,400 per sq.ft (2024)
• NSK Nagar 2nd Street: Rs 4,400 per sq.ft (2024)
• NSK Nagar 1st Street / Nehru Nagar Part - 2: Rs 4,400 per sq.ft (2024)
• NSK Nagar 1st Street: Rs 4,400 per sq.ft (2024)

Stamp duty and registration fee for property in NSK Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, making the total cost for these fees Rs 3,96,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers NSK Street?

The NSK Street is covered by the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering property transactions in Velachery. It determines the minimum value at which a property can be registered and is used to calculate the stamp duty and registration fees applicable during the transaction.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation. Buyers and sellers should be aware of the current guideline value to understand the financial implications of their property transactions.

Frequently asked questions

What is the current guideline value of NSK Street?

The current guideline value of NSK Street is Rs 4,400 per sq.ft as of the 2024 revision, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly, from Rs 167 per sq.ft in 2002 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 2535% over this period.

What is the land classification of NSK Street?

NSK Street is classified as Residential Class II Type - II, indicating its use for residential purposes within the area.

Where can I find the registration office for NSK Street?

The registration office for NSK Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.

How is stamp duty calculated for properties in NSK Street?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. For example, on a property valued at Rs 44,00,000, the stamp duty at 7% would be Rs 3,08,000.