Guideline Value for Nadu Street

Nadu Street guideline value

The current guideline value of Nadu Street in Nemili village, under the Sriperumpudur SRO, is Rs 210 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class III Type - I land classification.

How the guideline value of Nadu Street has changed

The guideline value for Nadu Street has seen several revisions over the years. The earliest recorded revision is from 2012, where the value was Rs 200 per sq.ft. In 2017, this value decreased to Rs 134 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value rose significantly to Rs 200 per sq.ft, an increase of 49%. The most recent revision in 2024 has set the value at Rs 210 per sq.ft, reflecting a 5% increase from the previous year.

It is important to note that there are no recorded figures for Nadu Street in the revisions from 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 5%.

Guideline values in Nemili

Nemili village has a total of 66 streets under the Sriperumpudur SRO, with 2024 guideline values ranging from Rs 150 to Rs 1,000 per sq.ft. The median value across these streets is Rs 250 per sq.ft, indicating that Nadu Street's 2024 value is below this median.

• Murugan Koil Street: Rs 210 per sq.ft (2024)
• Nehru Nagar: Rs 250 per sq.ft (2024)
• Nehru Street: Rs 250 per sq.ft (2024)
• Mookambigai Nagar: Rs 250 per sq.ft (2024)
• Nemili Park: Rs 250 per sq.ft (2024)
• Nemili Sri Lakshmi Town: Rs 250 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 210 per sq.ft, the total guideline value amounts to Rs 2,10,000. The stamp duty at 7% would be Rs 14,700, and the registration fee at 2% would be Rs 4,200, bringing the total fees to Rs 18,900. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nadu Street?

The Sub Registrar Office that covers Nadu Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during property transactions in Nemili, as it is used to determine the stamp duty and registration fees applicable when buying or selling property. Buyers and sellers must be aware of the current guideline value to ensure accurate calculations of these fees.

When registering a property, the guideline value serves as a baseline for taxation purposes. It is essential for both parties to understand that the stamp duty is levied on the higher of the guideline value or the sale price, which can affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Nadu Street?

The current guideline value of Nadu Street is Rs 210 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 200 per sq.ft in 2012 to Rs 134 per sq.ft in 2017, then increased to Rs 200 per sq.ft in 2023, and finally to Rs 210 per sq.ft in 2024.

What is the land classification for Nadu Street?

Nadu Street falls under the Residential Class III Type - I land classification, which is important for determining its use and value.

What are the stamp duty and registration fees for properties in Nadu Street?

For a property valued at Rs 2,10,000, the stamp duty would be Rs 14,700, and the registration fee would be Rs 4,200, totaling Rs 18,900. These fees are based on the guideline value.

Where is the Sub Registrar Office for Nadu Street located?

The Sub Registrar Office for Nadu Street is the Sriperumpudur Sub Registrar Office, located at 27, Chetty Street, Sriperumpudur-602 105, Chengalpattu registration zone.