Guideline Value for Nuthanjeri Colony Street

Nuthanjeri Colony Street guideline value

The current guideline value of Nuthanjeri Colony Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Madambakkam village under the Selaiyur SRO, classified as Commercial Class I Type - I.

How the guideline value of Nuthanjeri Colony Street has changed

In the 2012 revision, the guideline value for Nuthanjeri Colony Street was Rs 2,500 per sq.ft. This figure remained unchanged in the 2023 revision, which also recorded Rs 2,500 per sq.ft. However, in the 2024 revision, the guideline value increased to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Madambakkam

In Madambakkam village, there are 1,151 streets under the Selaiyur SRO, with guideline values ranging from Rs 1,100 to Rs 6,000 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,400 per sq.ft, placing Nuthanjeri Colony Street’s 2024 figure above this median.

• Nuthanjeri Bajanai Koil Street: Rs 2,750 per sq.ft (2024)
• Nuthanjeri Sudalai Salai: Rs 2,200 per sq.ft (2024)
• North Mada Street: Rs 1,900 per sq.ft (2024)
• N.K Kumarasamy Estste: Rs 2,200 per sq.ft (2024)
• Orange County: Rs 1,600 per sq.ft (2024)
• New Jerusalam Nagar: Rs 1,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nuthanjeri Colony Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,750 per sq.ft, the total guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, bringing the total to Rs 2,47,500. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nuthanjeri Colony Street?

The Nuthanjeri Colony Street is covered by the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, within the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Madambakkam. It serves as a reference point for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with local regulations during the registration process.

When a property is sold, the guideline value is used to calculate the applicable stamp duty and registration fees. This ensures that both parties are aware of the financial implications of the transaction, based on the established guideline value.

Frequently asked questions

What is the current guideline value of Nuthanjeri Colony Street?

The current guideline value of Nuthanjeri Colony Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has remained at Rs 2,500 per sq.ft from 2012 to 2023. In 2024, it increased to Rs 2,750 per sq.ft, marking a 10% increase from the previous year.

What is the land classification of Nuthanjeri Colony Street?

Nuthanjeri Colony Street is classified as Commercial Class I Type - I under the current guidelines.

Where can I find the Selaiyur Sub Registrar Office?

The Selaiyur Sub Registrar Office is located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073.

How is stamp duty calculated for properties in Nuthanjeri Colony 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 27,50,000, the stamp duty would be Rs 1,92,500 at a rate of 7%.