Guideline Value for Namalwar Street

Namalwar Street guideline value

The current guideline value of Namalwar Street is Rs 1,100 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 IV Type - I.

How the guideline value of Namalwar Street has changed

The guideline value for Namalwar Street has undergone several revisions over the years. In the 2007 revision, the value was set at Rs 450 per sq.ft. This increased to Rs 1,000 per sq.ft in 2012, marking a significant rise of 122%. However, in the 2017 revision, the value decreased to Rs 670 per sq.ft, reflecting a drop of 33%. The value then rose again to Rs 1,000 per sq.ft in the 2023 revision, and finally reached Rs 1,100 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002 and 2003 for Namalwar Street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 144%.

Guideline values in Selaiyur

In Selaiyur village, there are 478 streets under the Selaiyur SRO that have a 2024 guideline value ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that the 2024 value for Namalwar Street is below this median.

• Nalvar Street: Rs 1,400 per sq.ft (2024)
• Nakkeeran 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)
• Nagarajan Street: Rs 950 per sq.ft (2024)
• Nagammal Street: Rs 950 per sq.ft (2024)

Stamp duty and registration fee for property in Namalwar Street

For a property measuring 1,000 sq.ft at the current guideline value, 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 fees Rs 99,000. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for further calculations.

Which Sub Registrar Office covers Namalwar Street?

The Sub Registrar Office covering Namalwar 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. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration process of property transactions in Selaiyur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling a property, the guideline value is compared with the sale price, and the higher of the two is used to calculate the applicable duties and fees. This ensures that the transaction is recorded at a value that reflects the market conditions as determined by the government.

Frequently asked questions

What is the current guideline value of Namalwar Street?

The current guideline value of Namalwar 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 450 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, representing an overall increase of 144% over the years.

What is the median guideline value in Selaiyur?

The median guideline value in Selaiyur is Rs 2,200 per sq.ft, which means that Namalwar Street's 2024 value is below this median.

What are the stamp duty and registration fees for a property in Namalwar Street?

For a property measuring 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 99,000, including stamp duty and registration fees.

Where is the Selaiyur Sub Registrar Office located?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.