Guideline Value for Nainiappan Thottam 6th Lane

Nainiappan Thottam 6th Lane guideline value

The current guideline value for Nainiappan Thottam 6th Lane is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Tondaiarpet village under the Royapuram SRO and is classified as Residential Class I Type - I.

How the guideline value of Nainiappan Thottam 6th Lane has changed

The guideline value for Nainiappan Thottam 6th Lane has seen several revisions over the years. The earliest recorded figure is from 2007, set at Rs 800 per sq.ft. This value increased significantly to Rs 2,000 per sq.ft in 2012, marking a 150% rise. However, from 2012 to 2017, the value decreased to Rs 1,340 per sq.ft, a drop of 33%. The most recent revision in 2024 shows a substantial increase to Rs 2,200 per sq.ft, which represents a 64% increase from the 2017 figure.

It is important to note that there are no figures available for the years 2023, 2003, and 2002 for this street. Overall, from 2007 to 2024, the guideline value has increased by 175%.

Guideline values in Tondaiarpet

In Tondaiarpet, there are 1,384 streets under the Royapuram SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 10,100 per sq.ft. The median value for these streets is Rs 1,600 per sq.ft, placing Nainiappan Thottam 6th Lane's 2024 figure above this median.

• Nainiappan Thottam 5th Lane: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam Street: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 4th Lane: Rs 2,200 per sq.ft (2024)
• Nainiappan Thottam 3rd Lane: 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 6th Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nainiappan Thottam 6th Lane?

Nainiappan Thottam 6th Lane falls under the Royapuram Sub Registrar Office, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Tondaiarpet. It is used to determine the stamp duty and registration fees that buyers must pay when purchasing property. This value is established by the government and is updated periodically to reflect changes in the market.

When registering a property, the guideline value serves as a baseline for calculating the costs involved. Buyers should be aware that the stamp duty is charged 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 for Nainiappan Thottam 6th Lane?

The current guideline value for Nainiappan Thottam 6th 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, increasing from Rs 800 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, which is a total increase of 175% over the years.

What is the land classification for Nainiappan Thottam 6th Lane?

Nainiappan Thottam 6th Lane is classified as Residential Class I Type - I.

Which office handles registrations for this street?

The Royapuram Sub Registrar Office handles registrations for Nainiappan Thottam 6th Lane, located at 535, Tondaiyarpet High Road, Near Maharani Theatre, Chennai 600021.

How is the stamp duty calculated for properties in Nainiappan Thottam 6th Lane?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current guideline value would incur a stamp duty of Rs 1,54,000.