Guideline Value for Nayakkamar Street

Nayakkamar Street guideline value

The current guideline value of Nayakkamar Street is Rs 6,600 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class II Type - II.

How the guideline value of Nayakkamar Street has changed

The guideline value for Nayakkamar Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,460 per sq.ft, which increased dramatically to Rs 6,000 per sq.ft in both the 2012 and 2023 revisions. The latest revision in 2024 saw an increase to Rs 6,600 per sq.ft, marking a 10% rise from the previous year.

Notably, there are no figures available for the revisions in 2002, 2003, and 2017 for this street. Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 352%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO, with guideline values ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value for these streets is Rs 4,900 per sq.ft, placing Nayakkamar Street's 2024 value above this median.

• Navarathina Colony: Rs 3,300 per sq.ft (2024)
• Nedunchezian Street: Rs 3,300 per sq.ft (2024)
• Navalar Nedunchezian Street: Rs 3,300 per sq.ft (2024)
• Nehru Avenue: Rs 5,500 per sq.ft (2024)
• Navabharath Colony S.No. 300/4: Rs 3,300 per sq.ft (2024)
• Nateem Ali Garden Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nayakkamar Street

For a 1,000 sq.ft plot at the current rate of Rs 6,600 per sq.ft, the guideline value amounts to Rs 66,00,000. The stamp duty at 7% would be Rs 4,62,000, and the registration fee at 2% would be Rs 1,32,000, totaling Rs 5,94,000. Please note that duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nayakkamar Street?

The Sub Registrar Office that covers Nayakkamar Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

When buying or selling property in Kodambakkam, the guideline value is a crucial factor as it determines the amount of stamp duty and registration fees payable. Buyers should be aware that the guideline value is often used as a reference point for property transactions.

During the registration process, the guideline value helps ensure that the transaction is recorded at a fair value, which is essential for legal and taxation purposes. It is important for both buyers and sellers to understand how this value impacts their financial obligations during a property transaction.

Frequently asked questions

What is the current guideline value of Nayakkamar Street?

The current guideline value of Nayakkamar Street is Rs 6,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,460 per sq.ft in 2007 to Rs 6,600 per sq.ft in 2024, marking a total increase of 352% over the years.

What are the other streets in Kodambakkam with their guideline values?

Other streets in Kodambakkam include Navarathina Colony, Nedunchezian Street, Navalar Nedunchezian Street, Nehru Avenue, Navabharath Colony S.No. 300/4, and Nateem Ali Garden Street, with values ranging from Rs 3,300 to Rs 5,500 per sq.ft.

What is the registration fee for a property in Nayakkamar Street?

The registration fee is calculated based on the guideline value, which for a 1,000 sq.ft plot at Rs 6,600 per sq.ft amounts to Rs 1,32,000.

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

The Sub Registrar Office for Nayakkamar Street is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, and you can find more information online.