Guideline Value for Nammalwar Street

Nammalwar Street guideline value

The current guideline value of Nammalwar Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO, classified as Residential Class II Type - I.

How the guideline value of Nammalwar Street has changed

The guideline value for Nammalwar Street has undergone several revisions over the years. The earliest recorded figure is from the 2007 revision, which set the value at Rs 1,650 per sq.ft. This increased significantly to Rs 5,000 per sq.ft in the 2012 revision, marking a rise of 203%. However, the value then decreased to Rs 3,350 per sq.ft in the 2017 revision, which was a decline of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 5,500 per sq.ft, representing a substantial increase of 64% from the 2017 figure.

It is important to note that there are no recorded figures for Nammalwar Street in the 2023, 2003, and 2002 revisions. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 233%.

Guideline values in Triplicane

In Triplicane village, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median guideline value for these streets is Rs 6,600 per sq.ft, indicating that Nammalwar Street's 2024 figure is below this median.

• Namachivaya Mudali Street: Rs 5,500 per sq.ft (2024)
• Nallathambi Mudali Street Chennai-5: Rs 7,700 per sq.ft (2024)
• Nallathambi Chetty Street Chennai-2: Rs 8,800 per sq.ft (2024)
• Nair Varadha Pillai Street: Rs 6,600 per sq.ft (2024)
• Nair Iyya Pillai Street: Rs 6,600 per sq.ft (2024)
• Nagoji Street: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Nammalwar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value amounts to Rs 55,00,000. The stamp duty at 7% would be Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total fees to Rs 4,95,000. 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 Nammalwar Street?

Nammalwar Street falls under the jurisdiction of the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014. You can find your SRO for more details.

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

The guideline value plays a crucial role when buying or selling property in Triplicane. It serves as a reference point for determining the stamp duty and registration fees that are applicable during the registration process. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements.

When a property is sold, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. Therefore, understanding the guideline value is essential for anyone involved in property transactions in Triplicane.

Frequently asked questions

What is the current guideline value of Nammalwar Street?

The current guideline value of Nammalwar Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Since the 2007 revision, the guideline value has increased by 233% to Rs 5,500 per sq.ft in 2024. The value has seen fluctuations, including a decrease from 2012 to 2017.

What is the land classification for Nammalwar Street?

Nammalwar Street is classified as Residential Class II Type - I, which is relevant for determining the guideline value and other regulations.

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

The Sub Registrar Office covering Nammalwar Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road), Royapettah, Chennai-600014.

How is stamp duty calculated for properties in Nammalwar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For a property valued at Rs 55,00,000, the stamp duty would be Rs 3,85,000 at 7%.