Guideline Value for Nasreen Street

Nasreen Street guideline value

The current guideline value of Nasreen Street in Selavoyal village, under the Madhavaram SRO, is Rs 2,700 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of Nasreen Street has changed

The guideline value for Nasreen Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,500 per sq.ft, which then decreased to Rs 1,675 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,500 per sq.ft in the 2023 revision, and finally rose to Rs 2,700 per sq.ft in the 2024 revision, marking an 8% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 8%. The changes from the 2017 to 2023 revision reflect a notable increase of 49%, while the change from 2012 to 2017 indicates a decrease of 33%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Selavoyal

In Selavoyal, there are 170 streets under the Madhavaram SRO that carry a 2024 guideline value ranging from Rs 1,900 to Rs 3,300 per sq.ft, with a median value of Rs 2,200 per sq.ft. Nasreen Street's 2024 figure of Rs 2,700 per sq.ft is above this median.

• Narayanasamy Garden 9th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 8th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 7th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 6th Street: Rs 2,200 per sq.ft (2024)
• Narayanasamy Garden 6th Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nasreen Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value would be Rs 27,00,000. The stamp duty at 7% would amount to Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that duty is charged on the higher of the guideline value and the sale price. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nasreen Street?

The Sub Registrar Office that covers Nasreen Street is the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Selavoyal, as it determines the minimum value at which a property can be registered. When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value when engaging in property transactions, as it influences the overall cost involved in the registration process. This ensures compliance with regulations set by the Registration Department.

Frequently asked questions

What is the current guideline value of Nasreen Street?

The current guideline value of Nasreen Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then increased to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,700 per sq.ft in 2024.

What is the land classification for Nasreen Street?

Nasreen Street is classified under Residential Class I Type - I land classification.

What are the stamp duty rates for property in Nasreen Street?

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

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

The Madhavaram Sub Registrar Office covers Nasreen Street and is located at No.7, Roja Nagar, Madhavaram, Chennai-600060.