Guideline Value for Nesamani Chellammal Avenue

Nesamani Chellammal Avenue guideline value

The current guideline value of Nesamani Chellammal Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Kaspapuram village under the Tambaram Joint 1 SRO, classified as Residential Special Type - I.

How the guideline value of Nesamani Chellammal Avenue has changed

The guideline value for Nesamani Chellammal Avenue has undergone several revisions over the years. The earliest record available is from 2012, which set the value at Rs 1,500 per sq.ft. This was followed by a decrease to Rs 1,005 per sq.ft in 2017. The most recent revisions show an increase to Rs 1,500 per sq.ft in 2023, and then a further rise to Rs 1,650 per sq.ft in 2024, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register has no figures available for the years 2002, 2003, and 2007 regarding this street.

Guideline values in Kaspapuram

Kaspapuram village has a total of 76 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 440 to Rs 4,300 per sq.ft. The median guideline value in this area is Rs 1,100 per sq.ft, placing Nesamani Chellammal Avenue above this median.

• Nehru Street: Rs 550 per sq.ft (2024)
• Padavatamman Koil Cross Street: Rs 440 per sq.ft (2024)
• Padavatamman Koil Street: Rs 440 per sq.ft (2024)
• Mumurthy Avenue Second Main Road: Rs 1,430 per sq.ft (2024)
• Mumurthy Avenue First Main Road: Rs 1,430 per sq.ft (2024)
• Mumurthy Avenue: Rs 1,650 per sq.ft (2024)

Stamp duty and registration fee for property in Nesamani Chellammal Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for stamp duty and registration to Rs 1,48,500. It is important to note that 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 specific calculations.

Which Sub Registrar Office covers Nesamani Chellammal Avenue?

The Sub Registrar Office that covers Nesamani Chellammal Avenue is the Tambaram Joint 1 Sub Registrar Office, located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial aspect when buying or selling property in Kaspapuram, as it determines the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are mandatory during the property transfer process.

Buyers and sellers should be aware that the guideline value may differ from the actual sale price, but the registration will be based on the higher of the two. It is advisable to check the latest guideline values to ensure compliance with local regulations during property transactions.

Frequently asked questions

What is the current guideline value of Nesamani Chellammal Avenue?

The current guideline value of Nesamani Chellammal Avenue is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

What is the land classification of Nesamani Chellammal Avenue?

Nesamani Chellammal Avenue is classified as Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties here?

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500, and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Where is the Sub Registrar Office for Nesamani Chellammal Avenue located?

The Tambaram Joint 1 Sub Registrar Office is located at No.26, Mes Road, East Tambaram, Chennai-600059, in the Chengalpattu registration zone.