Guideline Value for Nalvar Street

Nalvar Street guideline value

The current guideline value of Nalvar Street is Rs 1,400 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, and is classified as Residential Class III Type - I.

How the guideline value of Nalvar Street has changed

The guideline value for Nalvar Street has undergone several revisions over the years. In 2007, the value was Rs 600 per sq.ft, which increased significantly to Rs 1,300 per sq.ft in 2012, marking a rise of 117%. However, this was followed by a decrease to Rs 871 per sq.ft in 2017, a drop of 33%. The value then rose to Rs 1,300 per sq.ft in 2023, and most recently, it has increased to Rs 1,400 per sq.ft in 2024, reflecting an 8% increase.

There are no figures available for the revisions in 2002 and 2003 for Nalvar Street. Overall, from 2007 to 2024, the guideline value has increased by 133%.

Guideline values in Selaiyur

In Selaiyur, there are 478 streets under the Selaiyur SRO, with guideline values ranging from Rs 850 to Rs 6,500 per sq.ft as of 2024. The median guideline value in the village is Rs 2,200 per sq.ft, which means that Nalvar Street's current guideline value is below this median.

• Namalwar Street: Rs 1,100 per sq.ft (2024)
• Nakkeeran Street: Rs 950 per sq.ft (2024)
• Nagarajan Street: Rs 950 per sq.ft (2024)
• Narayana layout (Thanalakshmi Street): Rs 1,100 per sq.ft (2024)
• Narayana layout (Vijayalakshmi Street): Rs 850 per sq.ft (2024)
• Nagammal Street: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Nalvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,400 per sq.ft, the total guideline value amounts to Rs 14,00,000. The stamp duty at 7% would be Rs 98,000, and the registration fee at 2% would be Rs 28,000, making the total fees Rs 1,26,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nalvar Street?

The Sub Registrar Office that covers Nalvar Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. For more details, you can find your SRO.

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

The guideline value plays a crucial role in the registration process for property transactions in Selaiyur. It is used to determine the stamp duty and registration fees that need to be paid when buying or selling property. The fees are calculated based on the guideline value or the sale price, whichever is higher.

When a property is registered, the guideline value ensures that the transaction is documented at a value that reflects the official rates set by the government. This helps maintain transparency and standardization in property transactions within the region.

Frequently asked questions

What is the current guideline value of Nalvar Street?

The current guideline value of Nalvar Street is Rs 1,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 600 per sq.ft in 2007 to Rs 1,400 per sq.ft in 2024, marking an overall increase of 133% over the years.

What are the stamp duty and registration fees for properties on Nalvar Street?

For a property valued at Rs 14,00,000, the stamp duty would be Rs 98,000 and the registration fee would be Rs 28,000, totaling Rs 1,26,000.

Which Sub Registrar Office is responsible for Nalvar Street?

The Selaiyur Sub Registrar Office is responsible for Nalvar Street, located at No.36, Bharathmatha Salai, East Tambaram, Chennai - 600 073.

What is the land classification for Nalvar Street?

Nalvar Street is classified as Residential Class III Type - I, which indicates its designation for residential use under the local regulations.