Guideline Value for Nakkeeran Street

Nakkeeran Street guideline value

The current guideline value of Nakkeeran Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class IV Type - II.

How the guideline value of Nakkeeran Street has changed

The guideline value of Nakkeeran Street has undergone several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 450 per sq.ft. This increased to Rs 900 per sq.ft in 2012, marking a significant rise of 100%. However, in 2017, the value decreased to Rs 603 per sq.ft, a drop of 33%. The value then saw a substantial increase to Rs 900 per sq.ft in 2023, before reaching the current value of Rs 950 per sq.ft in 2024, which is a 6% increase from the previous year.

There are no recorded figures for Nakkeeran Street in the revisions of 2002 and 2003. Overall, from 2007 to 2024, the guideline value has increased by 111%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which means Nakkeeran Street's 2024 figure is below that median.

• Nalvar Street: Rs 1,400 per sq.ft (2024)
• Nagarajan Street: Rs 950 per sq.ft (2024)
• Namalwar Street: Rs 1,100 per sq.ft (2024)
• Nagammal Street: Rs 950 per sq.ft (2024)
• Nagammai Street: Rs 950 per sq.ft (2024)
• Narayana layout (Thanalakshmi Street): Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nakkeeran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000. The stamp duty at 7% would amount to Rs 66,500, while the registration fee at 2% would be Rs 19,000, bringing the total cost for these fees to Rs 85,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for a more precise estimate based on your specific property details.

Which Sub Registrar Office covers Nakkeeran Street?

The Sub Registrar Office that covers Nakkeeran Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Selaiyur. When a property is sold or purchased, the guideline value is used to determine the applicable stamp duty and registration fees, ensuring that the transaction is in compliance with local regulations.

Frequently asked questions

What is the current guideline value of Nakkeeran Street?

The current guideline value of Nakkeeran Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, reflecting an overall increase of 111%.

What is the land classification for Nakkeeran Street?

Nakkeeran Street is classified as Residential Class IV Type - II.

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

The Sub Registrar Office for Nakkeeran Street is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How do I calculate the stamp duty for a property in Nakkeeran Street?

Stamp duty for a property in Nakkeeran Street can be calculated based on the guideline value. For example, for a 1,000 sq.ft plot at Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000, leading to a stamp duty of Rs 66,500.