Guideline Value for Noble Street

Noble Street guideline value

The current guideline value of Noble Street in Peerklankaranai village is Rs 2,200 per sq.ft, effective from 1 July 2024. This property falls under the Tambaram Joint 1 SRO and is classified as Residential Special Type - I.

How the guideline value of Noble Street has changed

The guideline value for Noble Street has seen several revisions over the years. In 2012, the value was set at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017, marking a decline of 33%. However, from 2017 to 2023, the value increased significantly to Rs 2,000 per sq.ft, reflecting a rise of 49%. The latest revision in 2024 has brought the value to Rs 2,200 per sq.ft, a 10% increase from the previous year.

It is important to note that there are no recorded figures for Noble Street in the revisions of 2002, 2003, and 2007. 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 guideline value in this area is Rs 1,650 per sq.ft, making Noble Street's 2024 figure of Rs 2,200 per sq.ft above that median.

• Nile Street: Rs 1,320 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 Noble Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost for these fees to Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more information, you can use our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Noble Street?

The Sub Registrar Office covering Noble Street 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 Peerklankaranai

The guideline value is a crucial factor when registering property transactions in Peerklankaranai. It serves as a benchmark for calculating the stamp duty and registration fees that are applicable during the sale or purchase of property.

When a buyer or seller approaches the registration office, the guideline value is used to determine the charges, ensuring that the fees reflect the official valuation of the property. This helps maintain transparency and standardization in property transactions.

Frequently asked questions

What is the current guideline value of Noble Street?

The current guideline value of Noble Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then back to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Noble Street?

Noble Street is classified as Residential Special Type - I, indicating its designated use for residential purposes.

What are the stamp duty and registration fees for properties in Noble Street?

The stamp duty is calculated at 7% of the guideline value, and the registration fee is charged at 2%. For example, on a 1,000 sq.ft plot, the total charges would be Rs 1,98,000.

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

The Tambaram Joint 1 Sub Registrar Office, which covers Noble Street, is located at No.26, mes Road, East Tambaram, Chennai-600059.