Guideline Value for Nawab Street

Nawab Street guideline value

The current guideline value of Nawab Street is Rs 9,300 per sq.ft, effective from 1 July 2024. This street is located in Egmore village under the Periamet SRO, and it falls under the Commercial Class I Type - I land classification.

How the guideline value of Nawab Street has changed

The guideline value for Nawab Street has undergone several revisions over the years. In 2002, the value was Rs 601 per sq.ft, which increased to Rs 663 per sq.ft in 2003. Following this, the value saw a significant rise to Rs 1,200 per sq.ft in 2007, and then it jumped to Rs 8,500 per sq.ft in 2012. However, it decreased to Rs 5,695 per sq.ft in 2017. The value then rose again to Rs 8,500 per sq.ft in 2023, before reaching the current figure of Rs 9,300 per sq.ft in 2024.

Between the revisions, the following changes occurred: from 2002 to 2003, there was an increase of 10%; from 2003 to 2007, the value rose by 81%; from 2007 to 2012, it increased by 608%; however, from 2012 to 2017, there was a decrease of 33%. The value then increased by 49% from 2017 to 2023, and finally, from 2023 to 2024, it rose by 9%. Overall, from 2002 to 2024, the guideline value has increased by 1,447%.

Guideline values in Egmore

In Egmore village, there are 465 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,800 to Rs 22,000 per sq.ft. The median value for these streets is Rs 7,100 per sq.ft, placing Nawab Street's 2024 figure above that median.

• Nawroji East Road: Rs 9,300 per sq.ft (2024)
• Nathan Lane/Street: Rs 9,300 per sq.ft (2024)
• Natesan Street: Rs 3,400 per sq.ft (2024)
• Narismachari street: Rs 3,900 per sq.ft (2024)
• NarayasamyDasary street: Rs 3,900 per sq.ft (2024)
• Narayan NaickenStreet: Rs 10,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nawab Street

For a 1,000 sq.ft plot at the current guideline value of Rs 9,300 per sq.ft, the total guideline value amounts to Rs 93,00,000. The stamp duty at 7% would be Rs 6,51,000, and the registration fee at 2% would be Rs 1,86,000, bringing the total to Rs 8,37,000. 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 details.

Which Sub Registrar Office covers Nawab Street?

The Sub Registrar Office that covers Nawab Street is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Egmore. It serves as a benchmark for determining the stamp duty and registration fees payable during the sale or purchase of property.

When you buy or sell property in Egmore, the guideline value ensures that the transaction is recorded accurately and that the appropriate taxes are collected by the government. It is essential to be aware of the current guideline value to understand the financial implications of property transactions.

Frequently asked questions

What is the current guideline value of Nawab Street?

The current guideline value of Nawab Street is Rs 9,300 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 601 per sq.ft in 2002 to Rs 9,300 per sq.ft in 2024, marking an overall increase of 1,447%.

What is the land classification of Nawab Street?

Nawab Street is classified as Commercial Class I Type - I under the land classification system.

Where is the Sub Registrar Office for Nawab Street located?

The Sub Registrar Office for Nawab Street is located at 1103, Poonamallee High Road, Chennai-600 003.

How is stamp duty calculated for property in Nawab Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, the stamp duty for a 1,000 sq.ft plot at the current guideline value totals Rs 6,51,000.