Guideline Value for Namalvar Street

Namalvar Street guideline value

The current guideline value of Namalvar Street in Zaminpallavaram village is Rs 3,300 per sq.ft, effective from 1 July 2024. This street falls under the Pallavaram SRO and is classified as Residential Class I Type - II.

How the guideline value of Namalvar Street has changed

The guideline value for Namalvar Street has seen several revisions over the years. The earliest recorded revision was in 2003, with a guideline value of Rs 591 per sq.ft. This increased to Rs 800 per sq.ft in 2007, marking a significant change of +35%. The value remained unchanged at Rs 3,000 per sq.ft in both the 2012 and 2023 revisions, before rising to Rs 3,300 per sq.ft in the 2024 revision, which is a +10% increase from the previous year.

From 2003 to 2024, the overall change in the guideline value is +458%. Notably, there are no figures available for the years 2017 and 2002 in the register for Namalvar Street.

Guideline values in Zaminpallavaram

Zaminpallavaram village has a total of 638 streets under the Pallavaram SRO, with 2024 guideline values ranging from Rs 2,100 to Rs 11,000 per sq.ft. The median guideline value is Rs 3,300 per sq.ft, which matches the current value of Namalvar Street.

• Naladiyar Street: Rs 2,750 per sq.ft (2024)
• Nakkiran Street: Rs 3,520 per sq.ft (2024)
• Naidu Shop Road: Rs 3,520 per sq.ft (2024)
• Nagathamman Street @ Usman Basha Street: Rs 3,300 per sq.ft (2024)
• Nagathamman Street (or) Usman Basha Road: Rs 3,300 per sq.ft (2024)
• Nagalakshmi Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Namalvar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, calculated at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total cost for these fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more detailed calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Namalvar Street?

The Sub Registrar Office that covers Namalvar 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 information.

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

The guideline value plays a crucial role in the registration process of property transactions in Zaminpallavaram. It serves as a benchmark for determining the stamp duty and registration fees that must be paid when buying or selling property in the area.

When a property is registered, the guideline value is used to calculate the applicable fees, ensuring that the transaction is in compliance with local regulations. This value helps maintain transparency in property transactions and ensures that the fees are based on an established standard.

Frequently asked questions

What is the current guideline value of Namalvar Street?

The current guideline value of Namalvar Street is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 591 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, showing an overall increase of +458% over the years.

What are the stamp duty rates for properties in Namalvar Street?

The stamp duty for properties in Namalvar Street is charged at 7% of the guideline value or the sale price, whichever is higher.

Which office handles property registrations for Namalvar Street?

The Pallavaram Sub Registrar Office handles property registrations for Namalvar Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044.

What is the median guideline value in Zaminpallavaram?

The median guideline value in Zaminpallavaram is Rs 3,300 per sq.ft, which is the same as the current value for Namalvar Street.