Guideline Value for Nalleeswarar Nagar 2nd Cross Street

Nalleeswarar Nagar 2nd Cross Street guideline value

The current guideline value of Nalleeswarar Nagar 2nd Cross Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in Venkatapuram village and falls under the Kunrathur SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Nalleeswarar Nagar 2nd Cross Street has changed

The guideline value for Nalleeswarar Nagar 2nd Cross Street has undergone several revisions over the years. As per the register, the 2012 revision set the value at Rs 1,000 per sq.ft, which then decreased to Rs 670 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,000 per sq.ft in the 2023 revision, and finally to Rs 1,100 per sq.ft in the 2024 revision, marking a 10% increase from the previous year.

From 2012 to 2017, there was a decrease of 33%, while the jump from 2017 to 2023 represented a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has risen by 10%. The register does not provide figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Venkatapuram

In Venkatapuram, there are 68 streets under the Kunrathur SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 1,200 per sq.ft, with a median value of Rs 1,200 per sq.ft. Nalleeswarar Nagar 2nd Cross Street's current guideline value is below this median.

• Nalleeswarar Nagar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Nalleeswarar Nagar: Rs 1,100 per sq.ft (2024)
• Nalleeswarar Nagar 3rd Cross Street: Rs 1,100 per sq.ft (2024)
• Nalleeswarar Nagar Main Road: Rs 1,100 per sq.ft (2024)
• Nadaipathi Cross Street: Rs 1,200 per sq.ft (2024)
• Nadaipathai Street Main Road: Rs 1,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nalleeswarar Nagar 2nd Cross 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 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 Nalleeswarar Nagar 2nd Cross Street?

The Sub Registrar Office that covers Nalleeswarar Nagar 2nd Cross Street is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more details.

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

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

When buying or selling property, it is essential to consider the guideline value as it directly influences the financial obligations involved in the transaction. Buyers should be aware that the stamp duty is calculated based on the higher of the guideline value or the sale price, which can impact their overall costs.

Frequently asked questions

What is the current guideline value of Nalleeswarar Nagar 2nd Cross Street?

The current guideline value of Nalleeswarar Nagar 2nd Cross 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 stamp duty rate for properties in this area?

The stamp duty rate for properties in Nalleeswarar Nagar 2nd Cross Street is 7%, which is applicable to the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nalleeswarar Nagar 2nd Cross Street?

The Sub Registrar Office for Nalleeswarar Nagar 2nd Cross Street is located at No.59, Road Street, Kundrathur, Chennai -600 069.

What is the land classification for Nalleeswarar Nagar 2nd Cross Street?

The land classification for Nalleeswarar Nagar 2nd Cross Street is Residential Special Type - II.