Guideline Value for Nayanar Street

Nayanar Street guideline value

The current guideline value of Nayanar Street is Rs 2,500 per sq.ft, effective from 1 July 2024. This street is located in Erukancherry village under the Madhavaram SRO, classified as Residential Class III Type - I.

How the guideline value of Nayanar Street has changed

The guideline value for Nayanar Street has seen several revisions over the years. The most recent revision in 2024 set the value at Rs 2,500 per sq.ft, which is an increase from Rs 2,300 per sq.ft in 2023, marking a change of +9%. Prior to that, in 2017, the value was Rs 1,541 per sq.ft, which indicates a significant increase of +49% to reach the 2023 figure. The 2012 revision had the value at Rs 2,300 per sq.ft, a decrease of -33% from the 2017 figure.

There are no recorded figures for Nayanar Street in the revisions from 2002, 2003, and 2007. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by +9%.

Guideline values in Erukancherry

In Erukancherry, there are 376 streets under the Madhavaram SRO, with guideline values ranging from Rs 1,900 to Rs 3,800 per sq.ft. The median value is Rs 2,500 per sq.ft, which is equal to the current guideline value of Nayanar Street.

• Nethaji Street: Rs 2,500 per sq.ft (2024)
• Nakeeran Street: Rs 2,500 per sq.ft (2024)
• New Lakshmi Amman Nagar: Rs 2,500 per sq.ft (2024)
• Muthu Mariamman Koil Street: Rs 3,000 per sq.ft (2024)
• N.S.Krishnan Street (Soozhulpunal Karai): Rs 2,200 per sq.ft (2024)
• N.S.K. Street: Rs 1,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nayanar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,500 per sq.ft, the total guideline value amounts to Rs 25,00,000. The stamp duty at 7% would be Rs 1,75,000, and the registration fee at 2% would be Rs 50,000, bringing the total to Rs 2,25,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can also use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nayanar Street?

Nayanar Street falls under the Madhavaram Sub Registrar Office, located at No.7, Roja Nagar, Madhavaram, Chennai-600060. You can find your SRO for more details.

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

The guideline value is a crucial factor when registering a property in Erukancherry. It determines the minimum value at which a property can be sold and is used to calculate the stamp duty and registration fees required during the transaction.

When buying or selling property, the guideline value serves as a benchmark, ensuring that the transaction is recorded accurately in the official registry. This helps maintain transparency and legality in property dealings.

Frequently asked questions

What is the current guideline value of Nayanar Street?

The current guideline value of Nayanar Street is Rs 2,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,541 per sq.ft in 2017 to Rs 2,500 per sq.ft in 2024, with various revisions in between.

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

Other streets in Erukancherry with a guideline value of Rs 2,500 per sq.ft include Nethaji Street, Nakeeran Street, and New Lakshmi Amman Nagar.

What is the registration fee for property in Nayanar Street?

The registration fee is calculated at 2% of the guideline value. For a property valued at Rs 25,00,000, the registration fee would be Rs 50,000.

Where can I find the Madhavaram Sub Registrar Office?

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