Guideline Value for Nallappa Street

Nallappa Street guideline value

The current guideline value of Nallappa Street in Hastinapuram village is Rs 2,970 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - I.

How the guideline value of Nallappa Street has changed

The guideline value for Nallappa Street has seen several revisions over the years. In 2007, the value was Rs 840 per sq.ft, which increased significantly to Rs 2,700 per sq.ft in 2012, marking a rise of 221%. However, from 2012 to 2017, the value decreased to Rs 1,809 per sq.ft, a drop of 33%. The value then rose sharply to Rs 2,700 per sq.ft in 2023, reflecting a 49% increase. The most recent revision in 2024 set the guideline value at Rs 2,970 per sq.ft, which is a 10% increase from the previous year.

There are no figures available for the revisions in 2002 and 2003 for Nallappa Street. Overall, from 2007 to 2024, the guideline value has increased by 254%.

Guideline values in Hastinapuram

Hastinapuram village has a total of 277 streets under the Pallavaram SRO with guideline values ranging from Rs 1,650 to Rs 4,400 per sq.ft. The median guideline value for these streets is Rs 2,970 per sq.ft, which is equal to the 2024 figure for Nallappa Street.

• Narathapuri Anumarkoil Street: Rs 2,380 per sq.ft (2024)
• Narathapuri Kamala Street: Rs 2,970 per sq.ft (2024)
• Narathapuri Srinivasan Street: Rs 2,920 per sq.ft (2024)
• Narathapuri Suguna Street: Rs 2,380 per sq.ft (2024)
• Muvendar Street: Rs 1,650 per sq.ft (2024)
• Muthuswamy Nagar 3rd layout: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nallappa Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,970 per sq.ft, the total guideline value would be Rs 29,70,000. The stamp duty at 7% would amount to Rs 2,07,900, while the registration fee at 2% would be Rs 59,400, bringing the total charges to Rs 2,67,300. 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 Nallappa Street?

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

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

The guideline value plays a crucial role in the registration process of property transactions in Hastinapuram. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees, which are essential costs in the transaction process.

It is important for buyers and sellers to be aware of the current guideline value, as it directly affects the financial aspects of property transactions. Accurate knowledge of these values helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Nallappa Street?

The current guideline value of Nallappa Street is Rs 2,970 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 840 per sq.ft in 2007 to Rs 2,970 per sq.ft in 2024, reflecting an overall increase of 254% over the years.

What is the land classification of Nallappa Street?

Nallappa Street is classified as Residential Class I Type - I, indicating its suitability for residential development.

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

The Sub Registrar Office for Nallappa Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 29,70,000, the stamp duty would be Rs 2,07,900 and the registration fee would be Rs 59,400.