Guideline Value for Nithyanandam Street

Nithyanandam Street guideline value

The current guideline value of Nithyanandam Street is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, and it falls under the Residential Class IV Type - I land classification.

How the guideline value of Nithyanandam Street has changed

The guideline value for Nithyanandam Street has seen significant changes over the years. In the 2007 revision, the value was Rs 1,210 per sq.ft, which increased to Rs 2,512 per sq.ft in 2017, marking a change of +108%. The 2023 revision set the value at Rs 3,750 per sq.ft, reflecting a +49% increase from the previous revision. The current 2024 revision has further raised the guideline value to Rs 4,100 per sq.ft, which is a +9% increase from 2023. There are no figures available for the revisions in 2002, 2003, and 2012 for this street.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median guideline value in this area is Rs 4,900 per sq.ft, placing Nithyanandam Street's 2024 value below that median.

• North Mada Street: Rs 3,300 per sq.ft (2024)
• N.S.C. Bose Street: Rs 2,200 per sq.ft (2024)
• N.S. Krishnan Street (Dr. Kanu Nagar 12th St): Rs 2,200 per sq.ft (2024)
• Oomaidurai Street: Rs 3,300 per sq.ft (2024)
• Nethaji Nagar 3rd Street: Rs 4,900 per sq.ft (2024)
• Nethaji Nagar 2nd Street: Rs 4,900 per sq.ft (2024)

Stamp duty and registration fee for property in Nithyanandam Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. 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 Nithyanandam Street?

The Sub Registrar Office that covers Nithyanandam Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kodambakkam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property. Buyers and sellers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

When a property is sold, the guideline value helps ensure that the transaction is recorded accurately and that the appropriate taxes are collected. This process is essential for maintaining transparency and compliance within the real estate market.

Frequently asked questions

What is the current guideline value of Nithyanandam Street?

The current guideline value of Nithyanandam Street is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 1,210 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of +239% over the years.

What is the land classification for Nithyanandam Street?

Nithyanandam Street is classified as Residential Class IV Type - I under the guideline value register.

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

The Sub Registrar Office for Nithyanandam Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is the stamp duty calculated for properties in Nithyanandam Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 4,100 per sq.ft, the stamp duty would be Rs 2,87,000 for a 1,000 sq.ft plot.