Guideline Value for Nair Varadha Pillai Street

Nair Varadha Pillai Street guideline value

The current guideline value of Nair Varadha Pillai Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village, under the Triplicane SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nair Varadha Pillai Street has changed

Since 2007, the guideline value for Nair Varadha Pillai Street has seen significant changes. The 2007 revision set the value at Rs 945 per sq.ft, which increased to Rs 6,000 per sq.ft in 2012. However, there was a decrease to Rs 4,020 per sq.ft in 2017. The value then rose to Rs 6,000 per sq.ft in 2023, and finally, it increased to Rs 6,600 per sq.ft in 2024, marking a 10% rise from the previous year.

Overall, from 2007 to 2024, the guideline value has increased by 598%. The register has no figures for the years 2002 and 2003 for this street.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft, with a median value of Rs 6,600 per sq.ft. Nair Varadha Pillai Street's 2024 figure aligns with this median.

• Nair Iyya Pillai Street: Rs 6,600 per sq.ft (2024)
• Nallathambi Chetty Street Chennai-2: Rs 8,800 per sq.ft (2024)
• Nallathambi Mudali Street Chennai-5: Rs 7,700 per sq.ft (2024)
• Nagoji Street: Rs 6,600 per sq.ft (2024)
• Namachivaya Mudali Street: Rs 5,500 per sq.ft (2024)
• Nammalwar Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Nair Varadha Pillai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, bringing the total to Rs 5,94,000. 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 Nair Varadha Pillai Street?

The Sub Registrar Office that covers Nair Varadha Pillai Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process of property transactions in Triplicane. It serves as a benchmark for determining the stamp duty and registration fees applicable during the sale or purchase of property.

When a property is registered, the stamp duty is calculated based on the guideline value or the sale price, whichever is higher. This ensures that the state receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nair Varadha Pillai Street?

The current guideline value of Nair Varadha Pillai Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 945 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, reflecting an overall increase of 598% over the years.

What are the stamp duty rates for property in this area?

The stamp duty for property transactions in Nair Varadha Pillai Street is 7% of the guideline value or sale price, whichever is higher.

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

The Sub Registrar Office covering Nair Varadha Pillai Street is located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is the guideline value determined for properties?

The guideline value is determined by the Registration Department and is based on various factors, including the location and classification of the property. It is updated periodically to reflect changes in the real estate market.