Guideline Value for Nirmal Street

Nirmal Street guideline value

The current guideline value of Nirmal Street, located in Ambattur village under the Ambattur SRO, is Rs 6,600 per sq.ft, effective from 1 July 2024. This street falls under the Commercial Class I Type - II land classification.

How the guideline value of Nirmal Street has changed

In the 2012 revision, the guideline value for Nirmal Street was Rs 6,000 per sq.ft. This figure decreased to Rs 4,020 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 6,000 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 saw a further increase to Rs 6,600 per sq.ft, which is a 10% increase from the previous year.

The register has no figure for Nirmal Street in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ambattur

In Ambattur, there are 448 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,400 to Rs 8,209 per sq.ft. The median guideline value for these streets is Rs 3,600 per sq.ft, placing Nirmal Street's 2024 figure above that median.

• North park Street: Rs 6,600 per sq.ft (2024)
• Old Baroda Bank Street (Bank of Baroda Street): Rs 6,600 per sq.ft (2024)
• Old E.S.I Street: Rs 5,100 per sq.ft (2024)
• Old post office Road: Rs 6,600 per sq.ft (2024)
• Old township Road: Rs 6,600 per sq.ft (2024)
• Nethaji Street (Venkatapuram): Rs 4,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nirmal Street

For a 1,000 sq.ft plot at the current guideline value of Rs 6,600 per sq.ft, the total guideline value would be 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, resulting in a total of Rs 5,94,000. 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 information.

Which Sub Registrar Office covers Nirmal Street?

The Sub Registrar Office that covers Nirmal Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is an essential factor during the registration of property transactions in Ambattur. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the state receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the official valuation of the property. It is crucial for buyers to be aware of this value to ensure that they are paying a fair price and to avoid any legal complications during the registration process.

Frequently asked questions

What is the current guideline value of Nirmal Street?

The current guideline value of Nirmal 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 seen several changes, starting from Rs 6,000 per sq.ft in 2012, dropping to Rs 4,020 per sq.ft in 2017, then rising to Rs 6,000 per sq.ft in 2023, and finally reaching Rs 6,600 per sq.ft in 2024.

What is the land classification for Nirmal Street?

Nirmal Street is classified as Commercial Class I Type - II, which indicates its suitability for commercial activities.

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

The Sub Registrar Office for Nirmal Street is located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur- 600 053, Chennai registration zone.

How is stamp duty calculated for properties on Nirmal Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 66,00,000, the stamp duty would be Rs 4,62,000 at 7%.