Guideline Value for Nellukara Street

Nellukara Street guideline value

The current guideline value of Nellukara Street is Rs 5,500 per sq.ft, effective from 1 July 2024. This street is located in 2nd Division village under the Kanchipuram Joint IV SRO and is classified as Commercial Class I Type - II.

How the guideline value of Nellukara Street has changed

The guideline value for Nellukara Street has seen several revisions over the years. The 2012 revision set the value at Rs 5,000 per sq.ft, which then changed to Rs 3,350 per sq.ft in the 2017 revision. This marked a decrease of 33%. Following this, the 2023 revision increased the value to Rs 5,000 per sq.ft, and the latest 2024 revision raised it further to Rs 5,500 per sq.ft, reflecting a 10% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change in the guideline value is an increase of 10%. It is important to note that there are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Guideline values in 2nd Division

In the 2nd Division village, there are 101 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value, ranging from Rs 800 to Rs 11,000 per sq.ft. The median value among these streets is Rs 1,650 per sq.ft, placing Nellukara Street's 2024 figure above that median.

• Nethaji Nagar: Rs 880 per sq.ft (2024)
• Nethaji Road: Rs 880 per sq.ft (2024)
• Nethaji Street: Rs 880 per sq.ft (2024)
• Narayanapalayam Street: Rs 1,100 per sq.ft (2024)
• Nagaluthu Street: Rs 1,100 per sq.ft (2024)
• Nagaluthu Medu Arasamara Street: Rs 1,100 per sq.ft (2024)

Stamp duty and registration fee for property in Nellukara Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,500 per sq.ft, the total guideline value would be Rs 55,00,000. The stamp duty at 7% would amount to Rs 3,85,000, and the registration fee at 2% would be Rs 1,10,000, bringing the total cost together to Rs 4,95,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nellukara Street?

The Sub Registrar Office that covers Nellukara Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more information.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value is a crucial factor during the registration process of property transactions in 2nd Division. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid when buying or selling property.

When a property is registered, the guideline value is compared to the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nellukara Street?

The current guideline value of Nellukara Street is Rs 5,500 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 5,000 per sq.ft in 2012 to Rs 3,350 per sq.ft in 2017, then increased to Rs 5,000 per sq.ft in 2023, and finally to Rs 5,500 per sq.ft in 2024.

What is the land classification of Nellukara Street?

Nellukara Street is classified as Commercial Class I Type - II under the Kanchipuram Joint IV SRO.

What are the registration fees for property in Nellukara Street?

The registration fees include a stamp duty of 7% and a registration fee of 2%, calculated based on the higher of the guideline value or the sale price.

Where is the Sub Registrar Office for Nellukara Street located?

The Sub Registrar Office for Nellukara Street is located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.