Guideline Value for Nile Street

Nile Street guideline value

The current guideline value of Nile Street is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Peerklankaranai village and falls under the Tambaram Joint 1 SRO. The land classification for this area is Residential Class I Type - III.

How the guideline value of Nile Street has changed

Over the years, the guideline value for Nile Street has seen several revisions. The 2012 revision set the value at Rs 1,200 per sq.ft, which then decreased to Rs 804 per sq.ft in the 2017 revision, marking a drop of 33%. However, from 2017 to 2023, there was a significant increase of 49%, bringing the value back up to Rs 1,200 per sq.ft. The most recent 2024 revision has further increased the value to Rs 1,320 per sq.ft, reflecting a growth of 10% from the previous year.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Peerklankaranai

In Peerklankaranai, there are 322 streets under the Tambaram Joint 1 SRO, with guideline values ranging from Rs 880 to Rs 4,400 per sq.ft. The median value for these streets is Rs 1,650 per sq.ft, making the current guideline value of Nile Street below this median.

• Noble Street: Rs 2,200 per sq.ft (2024)
• Nethaji Street Vard 13th: Rs 1,650 per sq.ft (2024)
• Nethaji Street: Rs 1,650 per sq.ft (2024)
• Nehru Street: Rs 1,100 per sq.ft (2024)
• Navalar Street: Rs 1,100 per sq.ft (2024)
• Narasimman Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Nile Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling Rs 1,18,800. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nile Street?

Nile Street falls under 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 information.

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

The guideline value is a crucial factor in the registration of property transactions in Peerklankaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair value of the property. It is essential for buyers to be aware of the guideline value to ensure they are not overpaying for a property and for sellers to set realistic expectations regarding the sale price.

Frequently asked questions

What is the current guideline value of Nile Street?

The current guideline value of Nile Street is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Nile Street?

Nile Street is classified as Residential Class I Type - III, indicating its suitability for residential purposes.

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

Other streets in Peerklankaranai include Noble Street at Rs 2,200 per sq.ft, Nethaji Street Vard 13th and Nethaji Street both at Rs 1,650 per sq.ft, and Nehru and Navalar Streets at Rs 1,100 per sq.ft.

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

The Sub Registrar Office covering Nile Street is the Tambaram Joint 1 SRO, located at No.26, Mes Road, East Tambaram, Chennai-600059.