Guideline Value for Nakkiran Street

Nakkiran Street guideline value

The current guideline value of Nakkiran Street is Rs 2,200 per sq.ft. This street is located in Kodungaiyur village, under the Madhavaram SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nakkiran Street has changed

In the 2012 revision, the guideline value for Nakkiran Street was Rs 2,000 per sq.ft. Following this, the 2024 revision increased the guideline value to Rs 2,200 per sq.ft, marking a change of +10% from the previous figure. The register has no figures for the years 2023, 2017, 2007, 2003, and 2002 for this street.

Therefore, the only recorded revisions for Nakkiran Street are from 2012 and 2024, with the significant increase occurring in the latest revision.

Guideline values in Kodungaiyur

In Kodungaiyur, there are 1,318 streets under the Madhavaram SRO that have a 2024 guideline value ranging from Rs 1,900 to Rs 4,000 per sq.ft, with a median value of Rs 2,700 per sq.ft. The guideline value for Nakkiran Street is below this median.

• Nandanar Street: Rs 2,700 per sq.ft (2024)
• Nandanar Street (Vivekananda Nagar): Rs 2,700 per sq.ft (2024)
• Nandanar Street (Vivekanandha Colony): Rs 2,700 per sq.ft (2024)
• Narasimman Kallarai Salai: Rs 2,700 per sq.ft (2024)
• Narasimman Nagar 1st Street: Rs 2,700 per sq.ft (2024)
• Narasimman Nagar 2nd Street: Rs 2,700 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 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, resulting in a total of Rs 1,98,000. It is important to note that the 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 information.

Which Sub Registrar Office covers Nakkiran Street?

The Sub Registrar Office that covers Nakkiran Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process of property transactions in Kodungaiyur. It serves as a benchmark for determining the stamp duty and registration fees applicable to the property being bought or sold.

When you register a property, the guideline value is used to calculate the applicable duties and fees, ensuring that the transaction is officially recorded according to the established values set by the Registration Department.

Frequently asked questions

What is the current guideline value of Nakkiran Street?

The current guideline value of Nakkiran Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value for Nakkiran Street was Rs 2,000 per sq.ft in 2012 and increased to Rs 2,200 per sq.ft in 2024, which is a change of +10%. There are no figures available for the years 2023, 2017, 2007, 2003, and 2002.

What is the land classification for Nakkiran Street?

Nakkiran Street is classified as Residential Class II Type - I. This classification indicates the type of development and usage permitted in the area.

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

The stamp duty is calculated at 7% of the guideline value, while the registration fee is 2%. For a property valued at Rs 22,00,000, the total fees would amount to Rs 1,98,000.

Where is the Sub Registrar Office for Nakkiran Street located?

The Madhavaram Sub Registrar Office covers Nakkiran Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.