Guideline Value for Nanniyan Street

Nanniyan Street guideline value

The current guideline value of Nanniyan Street in Muthiyalpet village is Rs 4,400 per sq.ft, effective from 1 July 2024. This street falls under the Sowcarpet Sub Registrar Office and is classified as Residential Class I Type - I.

How the guideline value of Nanniyan Street has changed

The guideline value for Nanniyan Street has seen significant changes over the years. In 2007, the value was Rs 1,200 per sq.ft, which increased to Rs 4,000 per sq.ft in 2012. However, it decreased to Rs 2,680 per sq.ft in 2017 before rising to Rs 4,000 per sq.ft again in 2023. The current value of Rs 4,400 per sq.ft represents a 10% increase from the previous year.

Overall, from 2007 to 2024, Nanniyan Street has experienced a remarkable increase of 267%. The register has no figures for the years 2002 and 2003, indicating that no guideline value was recorded for this street during those years.

Guideline values in Muthiyalpet

Muthiyalpet village has a total of 357 streets under the Sowcarpet SRO, with guideline values ranging from Rs 3,800 to Rs 16,500 per sq.ft. The median value for these streets is Rs 4,400 per sq.ft, which aligns with the current guideline value of Nanniyan Street.

• Narasimha Desai Dasari Lane: Rs 3,800 per sq.ft (2024)
• Narayana Chetty Street: Rs 4,400 per sq.ft (2024)
• Narayana Mudali Street: Rs 13,000 per sq.ft (2024)
• Narayanan 1st Street: Rs 4,400 per sq.ft (2024)
• Narayanan 2nd Street: Rs 4,400 per sq.ft (2024)
• Narayanan Aiyer Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Nanniyan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,400 per sq.ft, the total guideline value would be Rs 44,00,000. The stamp duty at 7% would amount to Rs 3,08,000, and the registration fee at 2% would be Rs 88,000, leading to a total cost of Rs 3,96,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nanniyan Street?

Nanniyan Street is covered by the Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01. To find your SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in the registration process of property transactions in Muthiyalpet. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the property market.

When buying or selling property, the guideline value is used to calculate applicable stamp duties and registration fees, which are mandatory for legal documentation. This 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 Nanniyan Street?

The current guideline value of Nanniyan Street is Rs 4,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2007 to Rs 4,400 per sq.ft in 2024, reflecting an overall increase of 267% over this period.

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

For a property valued at Rs 44,00,000, the stamp duty would be Rs 3,08,000, and the registration fee would be Rs 88,000, totaling Rs 3,96,000.

Which Sub Registrar Office is responsible for Nanniyan Street?

The Sowcarpet Sub Registrar Office, located at No.11, Davidson Street, Sowcarpet, Chennai-01, is responsible for Nanniyan Street.

What is the land classification of Nanniyan Street?

Nanniyan Street is classified as Residential Class I Type - I, indicating its suitability for residential development.