Guideline Value for Nakeeran Street

Nakeeran Street guideline value

The current guideline value of Nakeeran Street in Periyakuppam village, under the Tiruvallur Joint 1 SRO, is Rs 1,100 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - III land classification.

How the guideline value of Nakeeran Street has changed

The guideline value of Nakeeran Street has undergone several revisions over the years. In 2007, the value was set at Rs 200 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in 2012. However, between 2012 and 2017, the value decreased to Rs 670 per sq.ft, marking a decline of 33%. The value then rose substantially to Rs 1,000 per sq.ft in 2023, and with the latest revision in 2024, it has reached Rs 1,100 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that the register has no figures for Nakeeran Street for the years 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 450%.

Guideline values in Periyakuppam

In Periyakuppam, there are 105 streets under the Tiruvallur Joint 1 SRO that carry a 2024 guideline value, ranging from Rs 550 to Rs 3,300 per sq.ft. The median guideline value for these streets is Rs 1,100 per sq.ft, which is equal to the 2024 figure for Nakeeran Street.

• Namakal Ramalingam Street: Rs 1,100 per sq.ft (2024)
• M.Varadharasanar Street: Rs 550 per sq.ft (2024)
• Mookalathaman Cross Street: Rs 550 per sq.ft (2024)
• New. N.G.G.O. Colony: Rs 1,100 per sq.ft (2024)
• N.G.G.O.Colony: Rs 1,100 per sq.ft (2024)
• M.G.R.Nagar: Rs 1,100 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 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total fees to Rs 99,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nakeeran Street?

Nakeeran Street is covered by the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001, Chennai registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Periyakuppam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is recorded accurately in the official records.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the higher of the guideline value or the sale price, which is essential for proper financial planning during a property transaction.

Frequently asked questions

What is the current guideline value of Nakeeran Street?

The current guideline value of Nakeeran Street is Rs 1,100 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 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 450% over the years.

What are the other streets in Periyakuppam with similar guideline values?

Other streets in Periyakuppam with a guideline value of Rs 1,100 per sq.ft include Namakal Ramalingam Street, New. N.G.G.O. Colony, N.G.G.O. Colony, and M.G.R.Nagar.

Where can I find the Sub Registrar Office for Nakeeran Street?

The Sub Registrar Office covering Nakeeran Street is the Tiruvallur Joint 1 Sub Registrar Office, located at No.201, J.n.road, Taluk Office Compound, Thiruvallur-602001.

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

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000.