Guideline Value for Namashivayapuram (facing Nelson Manickam Road)

Namashivayapuram (facing Nelson Manickam Road) guideline value

The current guideline value of Namashivayapuram (facing Nelson Manickam Road) is Rs 9,900 per sq.ft, effective from 1 July 2024. This area is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this street is Commercial Class I Type - II.

How the guideline value of Namashivayapuram (facing Nelson Manickam Road) has changed

The guideline value for Namashivayapuram has seen several revisions over the years. In 2007, the guideline value was Rs 3,500 per sq.ft. This figure increased significantly to Rs 9,000 per sq.ft in 2012, marking a growth of 157%. However, it then decreased to Rs 6,030 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 9,000 per sq.ft in 2023, and most recently, the 2024 revision set the value at Rs 9,900 per sq.ft, reflecting a 10% increase from the previous year.

It is important to note that there are no figures available for the years 2002 and 2003 for this street. The overall increase from the 2007 revision to the 2024 revision is 183%, showcasing significant changes in the guideline value over the years.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median value for these streets is Rs 8,800 per sq.ft, placing Namashivayapuram's 2024 figure above this median.

• Namachivayapuram: Rs 6,600 per sq.ft (2024)
• Nageswara Road: Rs 10,400 per sq.ft (2024)
• Nanjil Manoharan Nagar: Rs 7,700 per sq.ft (2024)
• Nachiappan Street: Rs 9,300 per sq.ft (2024)
• Narayanan Street: Rs 7,700 per sq.ft (2024)
• Muthusamy Street: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in Namashivayapuram (facing Nelson Manickam Road)

For a 1,000 sq.ft plot at the current guideline value of Rs 9,900 per sq.ft, the total guideline value amounts to Rs 99,00,000. The stamp duty at 7% would be Rs 6,93,000, and the registration fee at 2% would be Rs 1,98,000, bringing the total cost for these fees to Rs 8,91,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Namashivayapuram (facing Nelson Manickam Road)?

The Sub Registrar Office that covers Namashivayapuram is the Chennai Central Joint II Sub Registrar Office, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018. You can find your SRO for more details.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Nungambakkam. It is used to determine the stamp duty and registration fees that need to be paid during the transaction. The guideline value is set by the government and reflects the minimum value at which properties can be registered.

When you decide to buy or sell a property, the guideline value will be compared against the sale price. The higher of the two values will be used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is compliant with local regulations.

Frequently asked questions

What is the current guideline value of Namashivayapuram?

The current guideline value of Namashivayapuram (facing Nelson Manickam Road) is Rs 9,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 3,500 per sq.ft in 2007 to Rs 9,900 per sq.ft in 2024, reflecting an overall increase of 183% over the years.

What are the stamp duty and registration fees for properties in Namashivayapuram?

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For a 1,000 sq.ft plot, the total fees would amount to Rs 8,91,000 based on the current guideline value.

Which Sub Registrar Office covers Namashivayapuram?

The Chennai Central Joint II Sub Registrar Office covers Namashivayapuram, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.

What is the land classification of Namashivayapuram?

Namashivayapuram is classified as Commercial Class I Type - II, indicating its designation for commercial use under the local land use regulations.