Guideline Value for Nakkeran Salai

Nakkeran Salai guideline value

The current guideline value of Nakkeran Salai is Rs 7,100 per sq.ft. This street is located in Mugappair village, which falls under the Konnur SRO. The land classification for this area is Residential Special Type - I.

How the guideline value of Nakkeran Salai has changed

The guideline value for Nakkeran Salai has seen several revisions over the years. In 2002, the guideline value was Rs 566 per sq.ft, which increased to Rs 622 per sq.ft in 2003. Following this, the value rose significantly to Rs 1,500 per sq.ft in 2007, then to Rs 6,500 per sq.ft in 2012. However, it dropped to Rs 4,355 per sq.ft in 2017 before climbing to Rs 6,500 per sq.ft again in 2023. The most recent revision in 2024 set the guideline value at Rs 7,100 per sq.ft.

From 2017 to 2023, the value increased by 49%, and from 2023 to 2024, it saw a rise of 9%. Notably, the increase from 2002 to 2024 is a substantial 1154%. There are no figures available for the revisions in years other than those listed.

Guideline values in Mugappair

Mugappair village has a total of 224 streets under the Konnur SRO, with guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. The median guideline value for the village is Rs 7,100 per sq.ft, which is the same as the current value for Nakkeran Salai.

• Navarathina Apartments: Rs 7,100 per sq.ft (2024)
• Nehruji Nagar: Rs 3,800 per sq.ft (2024)
• Nehruji Street: Rs 3,800 per sq.ft (2024)
• Mullai Colony: Rs 7,100 per sq.ft (2024)
• M.T.H. Road: Rs 7,100 per sq.ft (2024)
• New Kuberaganapathi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nakkeran Salai

For a 1,000 sq.ft plot at the current rate of Rs 7,100 per sq.ft, the guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nakkeran Salai?

The Sub Registrar Office that covers Nakkeran Salai is the Konnur Sub Registrar Office, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai. You can find your SRO for more details.

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

The guideline value is a crucial factor when buying or selling property in Mugappair. It serves as a benchmark for calculating the stamp duty and registration fees that are required during the registration process. Buyers must be aware that the guideline value can influence the overall cost of the transaction.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to determine the applicable duties. This ensures that all transactions are fairly assessed based on the established guideline values.

Frequently asked questions

What is the current guideline value of Nakkeran Salai?

The current guideline value of Nakkeran Salai is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 566 per sq.ft in 2002 to Rs 7,100 per sq.ft in 2024, reflecting an overall increase of 1154% over the years.

What are the stamp duty and registration fees for property in Nakkeran Salai?

For a 1,000 sq.ft property at the current guideline value, the total stamp duty and registration fees would amount to Rs 6,39,000, based on the current rates.

Which office handles property registrations for Nakkeran Salai?

The Konnur Sub Registrar Office handles property registrations for Nakkeran Salai, located at Villivakkam Panchayat, Union Office Complex, Dunlop Bus Stop, Ambattur, Chennai.

What is the significance of the guideline value when buying property?

The guideline value is significant as it determines the stamp duty and registration fees payable during property transactions. It ensures that the property is assessed fairly based on established values.