Guideline Value for Nalleeswarar Nagar

Nalleeswarar Nagar guideline value

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

How the guideline value of Nalleeswarar Nagar has changed

The guideline value for Nalleeswarar Nagar has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 300 per sq.ft. This increased significantly to Rs 1,000 per sq.ft in the 2012 revision, marking a rise of 233%. However, the value then decreased to Rs 670 per sq.ft in 2017, a decline of 33%. The 2023 revision saw the value rise again to Rs 1,000 per sq.ft, and the latest revision in 2024 has set it at Rs 1,100 per sq.ft, reflecting a 10% increase.

There are no figures available for the years 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 267%.

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. The median value for these streets is Rs 1,200 per sq.ft, placing Nalleeswarar Nagar below this median.

• Nalleeswarar Nagar 1st Cross Street: Rs 1,100 per sq.ft (2024)
• Nalleeswarar Nagar 2nd Cross Street: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 1,100 per sq.ft, the total guideline value would be Rs 11,00,000. The stamp duty at 7% would amount to Rs 77,000, and the registration fee at 2% would be Rs 22,000, making the total cost for these fees Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nalleeswarar Nagar?

The Sub Registrar Office that covers Nalleeswarar Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. For more information, you can find your SRO.

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

The guideline value is a crucial factor in the registration of property transactions in Venkatapuram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the guideline value is compared with the sale price, and the duty is charged on the higher amount. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nalleeswarar Nagar?

The current guideline value of Nalleeswarar Nagar 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 300 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, representing an overall increase of 267% over the years.

What are the guideline values for other streets in Venkatapuram?

Other streets in Venkatapuram have guideline values ranging from Rs 1,100 to Rs 1,200 per sq.ft as of 2024, with the median value being Rs 1,200 per sq.ft.

What fees are associated with property transactions in Nalleeswarar Nagar?

In addition to the guideline value, buyers must pay stamp duty at 7% and a registration fee at 2% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Nalleeswarar Nagar located?

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