Guideline Value for Nakkeeran Street

Nakkeeran Street guideline value

The current guideline value of Nakkeeran Street is Rs 3,850 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, classified as Residential Class I Type - I.

How the guideline value of Nakkeeran Street has changed

The guideline value for Nakkeeran Street has seen revisions over the years. The most recent revision in 2024 set the value at Rs 3,850 per sq.ft, which is an increase of 10% from the 2023 figure of Rs 3,500 per sq.ft. Prior to this, the register has no figure for the years 2017, 2012, 2007, 2003, and 2002.

In summary, the only available figures for Nakkeeran Street are from the 2023 and 2024 revisions, showing a clear upward change from Rs 3,500 to Rs 3,850 per sq.ft.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO with a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft. The median value is Rs 2,750 per sq.ft, placing Nakkeeran Street's 2024 figure above this median.

• Nandanar Road: Rs 2,750 per sq.ft (2024)
• Nandanar Street: Rs 2,200 per sq.ft (2024)
• Nandanar Street, Ramalinga Nagar Extension: Rs 2,750 per sq.ft (2024)
• Nandan Street: Rs 1,650 per sq.ft (2024)
• Mylai Karpagambal Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Mylai Karpagambal Nagar 2nd Street: Rs 2,200 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 3,850 per sq.ft, the total guideline value amounts to Rs 38,50,000. The stamp duty at 7% would be Rs 2,69,500, and the registration fee at 2% would be Rs 77,000, making the total fees together Rs 3,46,500. It is important to note that the 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 Nakkeeran Street?

The Sub Registrar Office that covers Nakkeeran Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value plays a critical role in the registration process when buying or selling property in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the registration fees and stamp duties are calculated appropriately.

When a buyer and seller agree on a sale price, the guideline value is compared to this price. The higher of the two values is used to calculate the applicable duties and fees, ensuring 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 3,850 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nakkeeran Street increased from Rs 3,500 per sq.ft in 2023 to Rs 3,850 per sq.ft in 2024. There are no figures available for the years 2017, 2012, 2007, 2003, and 2002.

What is the land classification of Nakkeeran Street?

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

What are the stamp duty and registration fees for properties on Nakkeeran Street?

For a property valued at Rs 38,50,000, the stamp duty would be Rs 2,69,500 and the registration fee would be Rs 77,000, totaling Rs 3,46,500.

Where is the Sub Registrar Office for Nakkeeran Street located?

The Velacheri Sub Registrar Office, which covers Nakkeeran Street, is located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.