Guideline Value for Nakkiran Street

Nakkiran Street guideline value

The current guideline value of Nakkiran Street is Rs 840 per sq.ft, effective from 1 July 2024. This street is located in Gowrivakkam village and falls under the Selaiyur SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Nakkiran Street has changed

The guideline value for Nakkiran Street has undergone several revisions over the years. In 2012, the guideline value was Rs 500 per sq.ft. This figure remained unchanged until 2017 when it decreased to Rs 335 per sq.ft. However, in 2023, the value increased significantly to Rs 500 per sq.ft, and in the latest revision for 2024, it rose to Rs 840 per sq.ft. There are no figures available for the revisions in 2002, 2003, and 2007.

From 2012 to 2017, the guideline value decreased by 33%. Following that, there was a 49% increase from 2017 to 2023. The most notable change occurred between 2023 and 2024, where the value increased by 68%. Overall, from 2012 to 2024, the guideline value has increased by 68%.

Guideline values in Gowrivakkam

In Gowrivakkam, there are 130 streets under the Selaiyur SRO that carry a 2024 guideline value ranging from Rs 840 to Rs 3,750 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, placing Nakkiran Street's 2024 figure below that median.

• Nagalingam Street: Rs 1,600 per sq.ft (2024)
• Mutharamman Koil Street: Rs 840 per sq.ft (2024)
• Nehur Street: Rs 2,200 per sq.ft (2024)
• Metro Apartments: Rs 840 per sq.ft (2024)
• Padmavathi Nagar: Rs 840 per sq.ft (2024)
• Palaniappa Nagar: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nakkiran Street

For a 1,000 sq.ft plot at the current guideline value of Rs 840 per sq.ft, the total guideline value amounts to Rs 8,40,000. The stamp duty at 7% would be Rs 58,800, and the registration fee at 2% would be Rs 16,800, bringing the total cost for these fees to Rs 75,600. Please 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 Nakkiran Street?

The Sub Registrar Office that covers Nakkiran 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 Gowrivakkam

The guideline value is a crucial factor during the registration of properties in Gowrivakkam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value will influence the transaction's financial aspects. Both the buyer and seller must consider this value to understand the total costs involved in the registration process, including stamp duty and registration fees.

Frequently asked questions

What is the current guideline value of Nakkiran Street?

The current guideline value of Nakkiran Street is Rs 840 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2012 to Rs 840 per sq.ft in 2024, with various increases and a decrease in the intervening years.

What are the other streets in Gowrivakkam with their guideline values?

Other streets in Gowrivakkam include Nagalingam Street at Rs 1,600 per sq.ft, Mutharamman Koil Street at Rs 840 per sq.ft, and Nehur Street at Rs 2,200 per sq.ft, among others.

What are the stamp duty and registration fees for properties in Nakkiran Street?

The stamp duty is 7% of the guideline value, and the registration fee is 2%. For a property valued at Rs 8,40,000, the total fees would be Rs 75,600.

Which Sub Registrar Office handles Nakkiran Street?

The Selaiyur Sub Registrar Office handles Nakkiran Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.