Guideline Value for Nadaipathai Street

Nadaipathai Street guideline value

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

How the guideline value of Nadaipathai Street has changed

The guideline value for Nadaipathai Street has seen significant changes over the years. In 2002, the guideline value was Rs 49 per sq.ft, which increased to Rs 54 per sq.ft in 2003. Following this, there was a substantial rise to Rs 250 per sq.ft in 2007, marking an increase of 363%. The value then surged to Rs 1,100 per sq.ft in 2012, reflecting a 340% increase from the previous revision. However, it dropped to Rs 737 per sq.ft in 2017, a decrease of 33%. The value rose again to Rs 1,100 per sq.ft in 2023, before reaching the current figure of Rs 1,200 per sq.ft in 2024, which is a 9% increase.

Overall, from 2002 to 2024, the guideline value has increased by 2349%. The register has no figure for the years not mentioned in the revisions listed.

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 is Rs 1,200 per sq.ft, which is equal to the current guideline value for Nadaipathai Street.

• Nadaipathai Street East: 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

For a 1,000 sq.ft plot at the current rate of Rs 1,200 per sq.ft, the 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, these fees would total Rs 1,08,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nadaipathai Street?

The Sub Registrar Office that covers Nadaipathai Street 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 value at which a property can be registered, ensuring that all transactions are conducted fairly and transparently.

When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees. These fees are essential for the legal transfer of property ownership and are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Nadaipathai Street?

The current guideline value of Nadaipathai Street 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 several times, starting from Rs 49 per sq.ft in 2002 to Rs 1,200 per sq.ft in 2024, reflecting an overall increase of 2349% over the years.

What are the stamp duty and registration fees for property in Nadaipathai Street?

For a property valued at Rs 12,00,000, the stamp duty would be Rs 84,000 and the registration fee would be Rs 24,000, totaling Rs 1,08,000.

Which Sub Registrar Office handles transactions for Nadaipathai Street?

The Kunrathur Sub Registrar Office handles transactions for Nadaipathai Street, located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Nadaipathai Street?

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