Guideline Value for Nakeeran Street

Nakeeran Street guideline value

The current guideline value of Nakeeran Street is Rs 2,001 per sq.ft. This street is located in Gooduvancheri village, under the Gooduvancheri SRO, and is classified as Residential Special Type - II.

How the guideline value of Nakeeran Street has changed

The guideline value for Nakeeran Street has undergone several revisions over the years. The most recent revision in 2024 set the value at Rs 2,001 per sq.ft, which is a slight increase from Rs 2,000 per sq.ft in 2023. Prior to that, the 2017 revision recorded a guideline value of Rs 1,340 per sq.ft. There are no figures available for the years 2012, 2007, 2003, and 2002 in the register for this street.

From 2017 to 2023, the guideline value increased by 49%, and the overall change from 2017 to 2024 is also +49%. This consistent rise reflects the adjustments made in the guideline values over the years.

Guideline values in Gooduvancheri

In Gooduvancheri, there are 129 streets under the Gooduvancheri SRO that carry a 2024 guideline value ranging from Rs 1,000 to Rs 3,500 per sq.ft. The median value for these streets is Rs 1,500 per sq.ft, placing Nakeeran Street's 2024 figure above this median.

• Nataraja Nayakar Street: Rs 1,200 per sq.ft (2024)
• Natarajapuram: Rs 1,200 per sq.ft (2024)
• Muthamizhil street: Rs 1,100 per sq.ft (2024)
• Naveen Satish Nagar: Rs 1,500 per sq.ft (2024)
• Nehru Street: Rs 1,500 per sq.ft (2024)
• Nethaji Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Nakeeran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,001 per sq.ft, the total guideline value would be Rs 20,01,000. The stamp duty at 7% would amount to Rs 1,40,070, while the registration fee at 2% would be Rs 40,020. Together, the total cost would be Rs 1,80,090. It's important to note that the stamp 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 Nakeeran Street?

The Sub Registrar Office that covers Nakeeran Street is the Gooduvancheri Sub Registrar Office, located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor in property transactions in Gooduvancheri. It serves as a benchmark for determining the minimum value at which properties can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, as these fees are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Nakeeran Street?

The current guideline value of Nakeeran Street is Rs 2,001 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,340 per sq.ft in 2017 to Rs 2,001 per sq.ft in 2024, reflecting a 49% increase overall.

What is the land classification for Nakeeran Street?

Nakeeran Street is classified as Residential Special Type - II under the current guidelines.

Where is the Gooduvancheri Sub Registrar Office located?

The Gooduvancheri Sub Registrar Office is located at Defence Colony Road, near Veterinary Hospital, Nanthivaram, Guduvancheri-603202, Chengalpattu registration zone.

How is the stamp duty calculated for properties in Nakeeran Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property valued at Rs 20,01,000, the stamp duty would be Rs 1,40,070 at a rate of 7%.