Guideline Value for Nakkiran Street

Nakkiran Street guideline value

The current guideline value of Nakkiran Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Chitlapakkam village under the Tambaram Joint 1 SRO, classified as Residential Class II Type - II.

How the guideline value of Nakkiran Street has changed

The guideline value for Nakkiran Street has seen several revisions over the years. The 2012 revision set the guideline value at Rs 1,000 per sq.ft, which remained unchanged until the 2017 revision when it decreased to Rs 670 per sq.ft. The value then increased significantly to Rs 1,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,100 per sq.ft in the 2024 revision.

From the 2017 to 2023 revision, there was a notable increase of 49%. The guideline value then rose by 10% from 2023 to 2024. Overall, comparing the 2012 and 2024 revisions, there has been a 10% increase. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Chitlapakkam

In Chitlapakkam, there are 548 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, indicating that Nakkiran Street's 2024 figure is below this median.

• Najeeb Avenue 4th Street: Rs 1,650 per sq.ft (2024)
• Najeeb Avenue 3rd Street: Rs 1,650 per sq.ft (2024)
• Najeeb Avenue 2nd Street: Rs 1,650 per sq.ft (2024)
• Najeeb Avenue: Rs 1,650 per sq.ft (2024)
• Narashima Pallavan Street: Rs 2,750 per sq.ft (2024)
• Narasimhan Street: Rs 1,650 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 1,100 per sq.ft, the total guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, bringing the total to Rs 99,000. It is important to note that duty is charged on the higher of the guideline value or the sale price. For further details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nakkiran Street?

Nakkiran Street falls under the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, 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 Chitlapakkam

The guideline value is a crucial factor when registering property transactions in Chitlapakkam. It serves as the basis for calculating the stamp duty and registration fees that buyers must pay during the registration process.

When a property is bought or sold, the guideline value ensures that the transaction is recorded accurately and fairly. It helps in determining the legal value of the property, which is essential for both buyers and sellers during the registration at the Sub Registrar Office.

Frequently asked questions

What is the current guideline value of Nakkiran Street?

The current guideline value of Nakkiran Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,000 per sq.ft in 2012 to Rs 670 per sq.ft in 2017, then back to Rs 1,000 per sq.ft in 2023, and finally to Rs 1,100 per sq.ft in 2024.

What is the median guideline value in Chitlapakkam?

The median guideline value for streets in Chitlapakkam is Rs 1,650 per sq.ft, which means Nakkiran Street's current value is below this median.

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

For a property valued at Rs 11,00,000, the stamp duty would be Rs 77,000 and the registration fee would be Rs 22,000, totaling Rs 99,000.

Where can I find the Sub Registrar Office for Nakkiran Street?

The Tambaram Joint 1 Sub Registrar Office, which covers Nakkiran Street, is located at No.26, Mes Road, East Tambaram, Chennai-600059.