Guideline Value for Nawaz Abibullah 3rd Cross Street

Nawaz Abibullah 3rd Cross Street guideline value

The current guideline value of Nawaz Abibullah 3rd 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 3rd Cross Street has changed

Over the years, the guideline value of Nawaz Abibullah 3rd Cross Street has seen significant changes. The earliest recorded revision was in 2007, where the value was Rs 3,000 per sq.ft. This increased to Rs 7,000 per sq.ft in 2012, marking a substantial rise of 133%. However, the value then decreased to Rs 4,690 per sq.ft in 2017, reflecting a decline of 33%. From 2017 to 2023, the value rose sharply to Rs 7,000 per sq.ft, a remarkable increase of 49%. The most recent revision in 2024 set the current guideline value at Rs 7,700 per sq.ft, representing a 10% increase from the previous year.

It is important to note that the register has no figures for the years 2002 and 2003 for this street. The overall change from 2007 to 2024 shows a significant increase of 157% in the guideline value.

Guideline values in Nungambakkam

Nungambakkam village has a total of 270 streets under the Chennai Central Joint II SRO with the 2024 guideline values ranging from Rs 3,300 to Rs 22,000 per sq.ft. The median guideline value in this area is Rs 8,800 per sq.ft, indicating that Nawaz Abibullah 3rd Cross Street's 2024 figure is below this median.

• Nawaz Abibullah 2nd Cross Street: Rs 7,700 per sq.ft (2024)
• Nawaz Abibullah Avenue: Rs 7,700 per sq.ft (2024)
• Nawaz Abibullah 1st Cross Street: 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 3rd 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 would be Rs 77,00,000. The stamp duty, calculated at 7%, would amount to Rs 5,39,000, while the registration fee at 2% would be Rs 1,54,000. Together, the total cost for these fees would be Rs 6,93,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nawaz Abibullah 3rd Cross Street?

The Sub Registrar Office that covers Nawaz Abibullah 3rd 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 plays a crucial role in property transactions in Nungambakkam. It is used to determine the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with legal requirements during the sale process.

When registering a property, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nawaz Abibullah 3rd Cross Street?

The current guideline value of Nawaz Abibullah 3rd 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 increased from Rs 3,000 per sq.ft in 2007 to Rs 7,700 per sq.ft in 2024, reflecting an overall increase of 157% over the years.

What are the other streets in Nungambakkam with the same guideline value?

Other streets in Nungambakkam with the same guideline value of Rs 7,700 per sq.ft in 2024 include Nawaz Abibullah 2nd Cross Street, Nawaz Abibullah Avenue, Nawaz Abibullah 1st Cross Street, and Nawaz Abibullah Avenue Cross Street.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 77,00,000, the stamp duty would be Rs 5,39,000, and the registration fee would be Rs 1,54,000, totaling Rs 6,93,000.

Which office handles the registration for Nawaz Abibullah 3rd Cross Street?

The Chennai Central Joint II Sub Registrar Office handles the registration for Nawaz Abibullah 3rd Cross Street, located at No:5/9, Kavigar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai -600018.