Guideline Value for Nalvar Street

Nalvar Street guideline value

The current guideline value of Nalvar Street in Irumpuliyur village is Rs 2,200 per sq.ft, effective from 1 July 2024. This street falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - II.

How the guideline value of Nalvar Street has changed

Over the years, the guideline value of Nalvar Street has seen significant changes. In the 2007 revision, the value was Rs 600 per sq.ft, which increased to Rs 2,000 per sq.ft in 2012. However, there was a decrease to Rs 1,340 per sq.ft in 2017. The following revisions saw an increase, with the value rising to Rs 2,000 per sq.ft in 2023 and reaching Rs 2,200 per sq.ft in 2024, marking a 10% increase from the previous year. The register has no figure for the years 2002 and 2003.

From 2007 to 2024, the overall change in guideline value is an increase of 267%. The value rose by 233% from 2007 to 2012, followed by a decrease of 33% from 2012 to 2017, and a substantial increase of 49% from 2017 to 2023.

Guideline values in Irumpuliyur

In Irumpuliyur village, there are 218 streets under the Tambaram Joint 1 SRO with a 2024 guideline value ranging from Rs 880 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is the same as the current guideline value for Nalvar Street.

• Nagathamman Koil Street: Rs 1,650 per sq.ft (2024)
• Narmatha Street: Rs 2,200 per sq.ft (2024)
• Navalor Street: Rs 1,100 per sq.ft (2024)
• Muthamil Street: Rs 2,530 per sq.ft (2024)
• Murugesan Street: Rs 2,530 per sq.ft (2024)
• Mullai Avenue: Rs 2,200 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 2,200 per sq.ft, the total guideline value is Rs 22,00,000. The stamp duty at 7% is Rs 1,54,000, while the registration fee at 2% is Rs 44,000, bringing the total cost to Rs 1,98,000. Duty is charged on the guideline value or the sale price, whichever is higher. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nalvar Street?

The Sub Registrar Office that covers Nalvar Street is the Tambaram Joint 1 Sub Registrar Office, located at No.26, mes Road, East Tambaram, Chennai-600059, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a critical factor during the registration of property transactions in Irumpuliyur. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When buying or selling property, it is essential to refer to the guideline value to ensure compliance with legal requirements. The guideline value helps in assessing the fair value of the property and ensures that both buyers and sellers are aware of the financial implications involved in the transaction.

Frequently asked questions

What is the current guideline value of Nalvar Street?

The current guideline value of Nalvar 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 has increased from Rs 600 per sq.ft in 2007 to Rs 2,200 per sq.ft in 2024, representing an overall change of 267% over this period.

What is the land classification for Nalvar Street?

Nalvar Street is classified as Residential Special Type - II under the current guidelines.

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

The Sub Registrar Office for Nalvar Street is located at No.26, mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.

How is stamp duty calculated for properties in Irumpuliyur?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 at a rate of 7%.