Guideline Value for Nakkiran Street

Nakkiran Street guideline value

The current guideline value of Nakkiran Street in Zaminpallavaram village is Rs 3,520 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram Sub Registrar Office (SRO) and is classified as Residential Class I Type - I.

How the guideline value of Nakkiran Street has changed

The guideline value of Nakkiran Street has undergone several revisions over the years. In 2003, the guideline value was Rs 120 per sq.ft. This figure saw a significant increase in 2007, rising to Rs 600 per sq.ft, marking a change of 400%. The value then jumped dramatically to Rs 3,200 per sq.ft in 2012, reflecting an increase of 433%. The 2023 revision maintained the value at Rs 3,200 per sq.ft, and in the latest revision for 2024, the guideline value increased by 10% to Rs 3,520 per sq.ft.

It is important to note that there are no figures available for Nakkiran Street in the 2017 and 2002 revisions. Overall, from 2003 to 2024, the guideline value has increased by 2,833%.

Guideline values in Zaminpallavaram

Zaminpallavaram has a total of 638 streets under the Pallavaram SRO, with guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft as of 2024. The median guideline value for the village is Rs 3,300 per sq.ft, placing Nakkiran Street's 2024 value above this median.

• Naladiyar Street: Rs 2,750 per sq.ft (2024)
• Naidu Shop Road: Rs 3,520 per sq.ft (2024)
• Nagathamman Street @ Usman Basha Street: Rs 3,300 per sq.ft (2024)
• Nagathamman Street (or) Usman Basha Road: Rs 3,300 per sq.ft (2024)
• Namalvar Street: Rs 3,300 per sq.ft (2024)
• Nagalakshmi Street: Rs 3,300 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 3,520 per sq.ft, the total guideline value would be Rs 35,20,000. The stamp duty at 7% would amount to Rs 2,46,400, while the registration fee at 2% would be Rs 70,400. Together, these fees would total Rs 3,16,800. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nakkiran Street?

The Sub Registrar Office that covers Nakkiran Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for further assistance.

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

The guideline value is a crucial factor when registering property transactions in Zaminpallavaram. 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 helps both buyers and sellers understand the value of the property in the market. It is essential to consider the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nakkiran Street?

The current guideline value of Nakkiran Street is Rs 3,520 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 120 per sq.ft in 2003 to Rs 3,520 per sq.ft in 2024, marking an overall increase of 2,833%.

What are the other streets with guideline values in Zaminpallavaram?

Other streets in Zaminpallavaram include Naladiyar Street at Rs 2,750 per sq.ft, Naidu Shop Road at Rs 3,520 per sq.ft, and several others, with values ranging up to Rs 11,000 per sq.ft.

What is the stamp duty for property in Nakkiran Street?

The stamp duty for property in Nakkiran Street is 7% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, this would be Rs 2,46,400.

Which office handles registrations for Nakkiran Street?

The Pallavaram Sub Registrar Office handles registrations for Nakkiran Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.