Guideline Value for Nainiappan Thottam 5th Lane

Nainiappan Thottam 5th Lane guideline value

The current guideline value of Nainiappan Thottam 5th Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village and falls under the jurisdiction of the Royapuram SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Nainiappan Thottam 5th Lane has changed

The guideline value for Nainiappan Thottam 5th Lane has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 800 per sq.ft. This increased significantly to Rs 2,000 per sq.ft in 2012, marking a 150% rise. However, in 2017, the value decreased to Rs 1,340 per sq.ft, reflecting a decline of 33%. The most recent revision in 2024 has set the guideline value at Rs 2,200 per sq.ft, which is an increase of 64% from the 2017 figure. It is important to note that the register has no figures for the years 2023, 2003, and 2002.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 175%, highlighting significant fluctuations over the years. The current rate of Rs 2,200 per sq.ft is notably above the median guideline value of Rs 1,600 per sq.ft for the 1,384 streets in Tondaiarpet under the Royapuram SRO.

Guideline values in Tondaiarpet

In Tondaiarpet, the guideline values range from Rs 1,100 to Rs 10,100 per sq.ft as of the 2024 revision. Nainiappan Thottam 5th Lane's current guideline value of Rs 2,200 per sq.ft places it above the median value for the area.

• Nainiappan Thottam 4th Lane: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 6th Lane: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 3rd Lane: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam Street: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 2nd Lane: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 1st Lane: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nainiappan Thottam 5th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nainiappan Thottam 5th Lane?

The Sub Registrar Office that covers Nainiappan Thottam 5th Lane is the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. For more details, you can find your SRO.

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

The guideline value is a crucial factor during property registration in Tondaiarpet. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations and to calculate applicable fees.

When a property is sold, the guideline value is used to assess stamp duty and registration fees. The fees are calculated based on the higher of the guideline value or the sale price, ensuring that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nainiappan Thottam 5th Lane?

The current guideline value of Nainiappan Thottam 5th Lane is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly over the years, increasing from Rs 800 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which is an overall increase of 175%.

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

Other streets in Tondaiarpet that have the same guideline value of Rs 2,200 per sq.ft as of 2024 include Nainiappan Thottam 1st Lane, 2nd Lane, 3rd Lane, 4th Lane, 6th Lane, and Nainiappan Thottam Street.

Where can I calculate stamp duty and registration fees?

You can calculate stamp duty and registration fees using the stamp duty and registration fee calculator available online.

Which office handles registration for Nainiappan Thottam 5th Lane?

The Royapuram Sub Registrar Office handles registration for Nainiappan Thottam 5th Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.