Guideline Value for Nakkeeran Street

Nakkeeran Street guideline value

The current guideline value of Nakkeeran Street is Rs 2,700 per sq.ft. This street is located in Kolathur village, under the Sembiam SRO, and is classified as Residential Class II Type - I.

How the guideline value of Nakkeeran Street has changed

The guideline value for Nakkeeran Street has undergone several revisions over the years. In 2002, the value was Rs 176 per sq.ft. This increased to Rs 191 per sq.ft in 2003, marking a rise of 9%. The value saw a significant jump to Rs 700 per sq.ft in 2007, reflecting an increase of 266%. Following this, the value rose to Rs 2,500 per sq.ft in 2012, which was a substantial increase of 257%. However, between 2017 and 2023, the value experienced a notable increase from Rs 1,675 per sq.ft to Rs 2,500 per sq.ft, amounting to a 49% rise. The most recent revision in 2024 set the guideline value at Rs 2,700 per sq.ft, representing an 8% increase from the previous year.

There are no figures available for Nakkeeran Street in the revisions prior to 2002 or after 2024.

Guideline values in Kolathur

In Kolathur, there are 879 streets under the Sembiam SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 6,000 per sq.ft, with a median value of Rs 3,300 per sq.ft. Nakkeeran Street's 2024 guideline value of Rs 2,700 per sq.ft is below this median.

• Muthu Mariamman Koil Street: Rs 2,700 per sq.ft (2024)
• Murugesan Street / Murugesan Colony: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 9th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 8th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 7th Street: Rs 3,300 per sq.ft (2024)
• Murugan Nagar 6th Street: Rs 3,300 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 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total charges to Rs 2,43,000. 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 details.

Which Sub Registrar Office covers Nakkeeran Street?

Nakkeeran Street falls under the jurisdiction of the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Kolathur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being sold or purchased.

When a property is registered, the guideline value is used to calculate the applicable charges. Buyers should be aware that the charges are based on the higher of the guideline value or the sale price, ensuring that the registration process is transparent and standardized.

Frequently asked questions

What is the current guideline value of Nakkeeran Street?

The current guideline value of Nakkeeran Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 176 per sq.ft in 2002 to Rs 2,700 per sq.ft in 2024, showing a significant overall increase of 1434% over the years.

What is the land classification of Nakkeeran Street?

Nakkeeran Street is classified as Residential Class II Type - I, indicating its suitability for residential development.

Where can I find the Sembiam Sub Registrar Office?

The Sembiam Sub Registrar Office is located at 5, Papermills Road, Sembiam, Chennai - 600011. This office handles registrations for properties in the area.

How is stamp duty calculated for properties in Nakkeeran Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a property with a guideline value of Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.