Guideline Value for Nadaipathai Street East

Nadaipathai Street East guideline value

The current guideline value of Nadaipathai Street East in Venkatapuram village, under the Kunrathur SRO, is Rs 1,200 per sq.ft, effective from 1 July 2024. This area is classified as Residential Special Type - I.

How the guideline value of Nadaipathai Street East has changed

The guideline value for Nadaipathai Street East has seen several revisions over the years. The 2012 revision set the value at Rs 1,100 per sq.ft, which then decreased to Rs 737 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 1,100 per sq.ft in 2023, and it has now risen to Rs 1,200 per sq.ft in the 2024 revision, marking a 9% increase from the previous year.

In summary, the changes between revisions are as follows: from 2012 to 2017, there was a decrease of 33%. However, from 2017 to 2023, the value increased by 49%. Overall, from 2012 to 2024, 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 Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 1,200 per sq.ft. The median value for these streets is Rs 1,200 per sq.ft, which is equal to the current guideline value for Nadaipathai Street East.

• Nadaipathai Street: Rs 1,200 per sq.ft (2024)
• Nadaipathai Street Gangai Amman Koil Street: Rs 1,200 per sq.ft (2024)
• Nadaipathai Street Main Road: Rs 1,200 per sq.ft (2024)
• Nadaipathi Cross Street: Rs 1,200 per sq.ft (2024)
• Muthuallamman Koil 2nd Street: Rs 1,200 per sq.ft (2024)
• Muthuallamman Koil 2nd Cross Street: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nadaipathai Street East

For a 1,000 sq.ft plot at the current guideline value of Rs 1,200 per sq.ft, the total guideline value would be Rs 12,00,000. The stamp duty at 7% would amount to Rs 84,000, while the registration fee at 2% would be Rs 24,000. Together, the total cost for these fees would be Rs 1,08,000. 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 precise calculations.

Which Sub Registrar Office covers Nadaipathai Street East?

The Sub Registrar Office that covers Nadaipathai Street East is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Venkatapuram. It serves as a benchmark for determining the minimum price at which a property can be registered, ensuring that the government receives appropriate revenue from property transactions.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the actual sale price, which can affect the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Nadaipathai Street East?

The current guideline value of Nadaipathai Street East is Rs 1,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,100 per sq.ft in 2012 to Rs 737 per sq.ft in 2017, then to Rs 1,100 per sq.ft in 2023, and now to Rs 1,200 per sq.ft in 2024.

What is the land classification for Nadaipathai Street East?

Nadaipathai Street East is classified as Residential Special Type - I.

Where is the Kunrathur Sub Registrar Office located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,200 per sq.ft, the total fees would amount to Rs 1,08,000.