Guideline Value for Nawaz Abibullah 1st Cross Street

Nawaz Abibullah 1st Cross Street guideline value

The current guideline value of Nawaz Abibullah 1st Cross Street is Rs 7,700 per sq.ft, effective from 1 July 2024. This street is located in Nungambakkam village and falls under the Chennai Central Joint II SRO. The land classification for this area is Residential Class I Type - I.

How the guideline value of Nawaz Abibullah 1st Cross Street has changed

The guideline value for Nawaz Abibullah 1st Cross Street has seen several revisions over the years. In the 2007 revision, the value was Rs 3,000 per sq.ft. This figure increased significantly to Rs 7,000 per sq.ft in the 2012 revision, marking a rise of 133%. However, in the 2017 revision, the value dropped to Rs 4,690 per sq.ft, a decrease of 33%. The value then rose again to Rs 7,000 per sq.ft in the 2023 revision, followed by a further increase to Rs 7,700 per sq.ft in the 2024 revision, which is a 10% increase from the previous year.

Overall, from the 2007 revision to the current 2024 revision, the guideline value has increased by 157%. It is important to note that the register has no figures for the years 2002 and 2003 for this street.

Guideline values in Nungambakkam

In Nungambakkam, there are 270 streets under the Chennai Central Joint II SRO that carry a 2024 guideline value, with values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value for these streets is Rs 8,800 per sq.ft, placing Nawaz Abibullah 1st Cross Street's 2024 figure below that median.

• Nawaz Abibullah 2nd Cross Street: Rs 7,700 per sq.ft (2024)
• Nawaz Abibullah 3rd Cross Street: Rs 7,700 per sq.ft (2024)
• Nawaz Abibullah Avenue: Rs 7,700 per sq.ft (2024)
• Nawaz Abibullah Avenue Cross Street: Rs 7,700 per sq.ft (2024)
• Neelakandan Road: Rs 7,100 per sq.ft (2024)
• Narayanan Street: Rs 7,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nawaz Abibullah 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,700 per sq.ft, the total guideline value amounts to Rs 77,00,000. The stamp duty at 7% would be Rs 5,39,000, and the registration fee at 2% would be Rs 1,54,000, making the total cost for these fees Rs 6,93,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nawaz Abibullah 1st Cross Street?

The Sub Registrar Office that covers Nawaz Abibullah 1st Cross Street 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 information.

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

The guideline value is a crucial factor during property registration in Nungambakkam. It serves as a benchmark for calculating the stamp duty and registration fees that are payable when a property transaction takes place.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which helps in maintaining transparency in the real estate market. Buyers and sellers must be aware of the current guideline value to ensure compliance with registration requirements.

Frequently asked questions

What is the current guideline value of Nawaz Abibullah 1st Cross Street?

The current guideline value of Nawaz Abibullah 1st Cross Street is Rs 7,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, with the current value being Rs 7,700 per sq.ft in 2024, up from Rs 7,000 per sq.ft in 2023, Rs 4,690 per sq.ft in 2017, and Rs 3,000 per sq.ft in 2007.

What is the land classification for Nawaz Abibullah 1st Cross Street?

The land classification for Nawaz Abibullah 1st Cross Street is Residential Class I Type - I, indicating its designation for residential purposes.

How does the guideline value compare to other streets in Nungambakkam?

The guideline value for Nawaz Abibullah 1st Cross Street is Rs 7,700 per sq.ft, which is below the median value of Rs 8,800 per sq.ft for other streets in Nungambakkam.

Where can I find more information about the registration office?

The Chennai Central Joint II Sub Registrar Office covers Nawaz Abibullah 1st Cross Street, and more information can be found at their office located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.