Guideline Value for Nabhikhan Subedhar Street

Nabhikhan Subedhar Street guideline value

The current guideline value of Nabhikhan Subedhar Street is Rs 6,000 per sq.ft, effective from 1 July 2024. This street is located in Vepery village under the Periamet SRO, classified as Residential Class II Type - I.

How the guideline value of Nabhikhan Subedhar Street has changed

The guideline value for Nabhikhan Subedhar Street has seen several revisions over the years. The 2012 revision set the value at Rs 5,500 per sq.ft, which was then reduced to Rs 3,685 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 5,500 per sq.ft, and the most recent 2024 revision has raised it further to Rs 6,000 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

From 2012 to 2017, there was a decrease of 33%. However, the value increased significantly by 49% from 2017 to 2023. The overall change from 2012 to 2024 is an increase of 9%.

Guideline values in Vepery

In Vepery village, there are 290 streets under the Periamet SRO with a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median value for these streets is Rs 4,800 per sq.ft, placing Nabhikhan Subedhar Street above this median.

• Nagathamman Koil: Rs 2,700 per sq.ft (2024)
• Muthugramani Street: Rs 6,000 per sq.ft (2024)
• Narayanan Street: Rs 4,800 per sq.ft (2024)
• Munusamy Street: Rs 4,800 per sq.ft (2024)
• Natesan Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Natesan Nagar 2nd Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nabhikhan Subedhar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,000 per sq.ft, the total guideline value amounts to Rs 60,00,000. The stamp duty at 7% would be Rs 4,20,000, and the registration fee at 2% would be Rs 1,20,000, totaling Rs 5,40,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nabhikhan Subedhar Street?

The Sub Registrar Office that covers Nabhikhan Subedhar Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Vepery. It serves as the basis for calculating stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps establish a transparent pricing framework. It ensures that both buyers and sellers have a clear understanding of the minimum value for taxation purposes, aiding in fair transactions.

Frequently asked questions

What is the current guideline value of Nabhikhan Subedhar Street?

The current guideline value of Nabhikhan Subedhar Street is Rs 6,000 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,500 per sq.ft in 2012 to Rs 3,685 per sq.ft in 2017, then back to Rs 5,500 per sq.ft in 2023, and finally to Rs 6,000 per sq.ft in 2024.

What is the land classification of Nabhikhan Subedhar Street?

Nabhikhan Subedhar Street is classified as Residential Class II Type - I.

Where can I find the registration office for this street?

The registration office for Nabhikhan Subedhar Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003.

How is the stamp duty calculated for properties in Nabhikhan Subedhar Street?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot, the total guideline value is Rs 60,00,000, leading to a stamp duty of Rs 4,20,000.