Guideline Value for Nadu street

Nadu street guideline value

The current guideline value of Nadu street in Kovur village, under the Kunrathur SRO, is Rs 1,650 per sq.ft, effective from 1 July 2024. The land classification for this area is Residential Special Type - I.

How the guideline value of Nadu street has changed

The guideline value for Nadu street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft, which saw a significant increase to Rs 1,500 per sq.ft in the 2012 revision. However, this was followed by a decrease to Rs 1,005 per sq.ft in the 2017 revision. The 2023 revision raised the value to Rs 1,500 per sq.ft, and the most recent 2024 revision has set it at Rs 1,650 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 560%. Notably, the register has no figures for Nadu street for the years 2002 and 2003.

Guideline values in Kovur

In Kovur, there are 91 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,320 to Rs 3,300 per sq.ft. The median value is Rs 1,650 per sq.ft, which is equal to the current guideline value of Nadu street.

• Mutharamman Nagar (or) Sri Ambal Nagar II: Rs 1,650 per sq.ft (2024)
• Nataraj nagar: Rs 1,650 per sq.ft (2024)
• Nataraj Nagar Part V: Rs 1,650 per sq.ft (2024)
• Moogambigai Nagar Annex: Rs 1,650 per sq.ft (2024)
• Moogambigai Nagar: Rs 1,650 per sq.ft (2024)
• Nidhulan Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Nadu street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total to Rs 1,48,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nadu street?

The Sub Registrar Office that covers Nadu street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Kovur. It serves as a benchmark for determining the value of the property, which is essential for calculating stamp duty and registration fees.

When a property is sold, the buyer and seller must ensure that the sale price is in line with the guideline value to avoid any discrepancies during registration. This helps in maintaining transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Nadu street?

The current guideline value of Nadu street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 250 per sq.ft in 2007 to Rs 1,650 per sq.ft in 2024, reflecting an overall increase of 560% over the years.

What are the other streets in Kovur with the same guideline value?

Several other streets in Kovur have the same guideline value of Rs 1,650 per sq.ft for 2024, including Mutharamman Nagar, Nataraj nagar, and Moogambigai Nagar, among others.

How is stamp duty calculated for properties in Nadu street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 16,50,000 would incur a stamp duty of Rs 1,15,500.

Where can I find the Sub Registrar Office for Nadu street?

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