Guideline Value for Nolambur Main Road

Nolambur Main Road guideline value

The current guideline value of Nolambur Main Road is Rs 7,100 per sq.ft, effective from 1 July 2024. This road is located in 1. Nolambur village, under the Villivakkam SRO, and is classified as Residential Special Type - I.

How the guideline value of Nolambur Main Road has changed

The guideline value for Nolambur Main Road has seen several revisions over the years. The 2017 revision set the value at Rs 4,355 per sq.ft. In 2023, it increased to Rs 6,500 per sq.ft, marking a significant rise of 49%. The most recent revision in 2024 brought the guideline value to Rs 7,100 per sq.ft, reflecting a further increase of 9% from the previous year. The register has no figures for the years 2002, 2003, 2007, and 2012 for this street.

Overall, from 2017 to 2024, the guideline value has increased by 63%. The current value of Rs 7,100 per sq.ft is equal to the median value of Rs 7,100 per sq.ft for the 73 streets in 1. Nolambur under the Villivakkam SRO.

Guideline values in 1. Nolambur

In 1. Nolambur, the guideline values for various streets range from Rs 3,300 to Rs 8,800 per sq.ft, with the median being Rs 7,100 per sq.ft. Nolambur Main Road's 2024 figure matches this median.

• Nova Colours: Rs 4,355 per sq.ft (2024)
• NOVA Meridian: Rs 4,355 per sq.ft (2024)
• NOVA Sprint: Rs 7,100 per sq.ft (2024)
• Pacific City: Rs 7,100 per sq.ft (2024)
• Padasalai Street: Rs 3,300 per sq.ft (2024)
• Panjamuga Sivan Koil Street: Rs 4,355 per sq.ft (2024)

Stamp duty and registration fee for property in Nolambur Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value would be Rs 71,00,000. The stamp duty at 7% would amount to Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. 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 details.

Which Sub Registrar Office covers Nolambur Main Road?

The Sub Registrar Office that covers Nolambur Main Road is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

How the guideline value is used when you buy or sell in 1. Nolambur

The guideline value is a crucial factor in property transactions in 1. Nolambur, as it determines the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with registration requirements.

During the registration process, the guideline value helps in calculating the stamp duty and registration fees that need to be paid. It is essential for both parties to be aware of the guideline value to avoid any discrepancies during the transaction.

Frequently asked questions

What is the current guideline value of Nolambur Main Road?

The current guideline value of Nolambur Main Road is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 4,355 per sq.ft in 2017 to Rs 6,500 per sq.ft in 2023, and then to Rs 7,100 per sq.ft in 2024. The overall increase from 2017 to 2024 is 63%.

What are the guideline values of other streets in 1. Nolambur?

In 1. Nolambur, other streets have guideline values ranging from Rs 3,300 to Rs 8,800 per sq.ft. Notably, streets like Nova Colours and NOVA Meridian have a guideline value of Rs 4,355 per sq.ft, while Nolambur Main Road and NOVA Sprint are valued at Rs 7,100 per sq.ft.

What fees are associated with buying property in Nolambur Main Road?

When buying property in Nolambur Main Road, buyers need to pay a stamp duty of 7% and a registration fee of 2% based on the guideline value or the sale price, whichever is higher.

Where can I find the Sub Registrar Office for Nolambur Main Road?

The Sub Registrar Office for Nolambur Main Road is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037. This office handles all registration activities for properties in the area.