Guideline Value for R.N.NAMBIAR STREET

R.N.Nambiar Street guideline value

The current guideline value of R.N.Nambiar Street in Puliyur village, under the Kodambakkam SRO, is Rs 5,800 per sq.ft, effective from 1 July 2024. This street falls under the Residential Class I Type - I land classification.

How the guideline value of R.N.Nambiar Street has changed

The guideline value for R.N.Nambiar Street has seen several revisions over the years. In 2002, the value was Rs 795 per sq.ft, which increased to Rs 873 per sq.ft in 2003, marking a 10% rise. The value then rose significantly to Rs 1,300 per sq.ft in 2007, reflecting a 49% increase. Following this, the value soared to Rs 5,300 per sq.ft in 2012, a substantial 308% increase. However, it dropped to Rs 3,551 per sq.ft in 2017, showing a decrease of 33%. The value then increased to Rs 5,300 per sq.ft in 2023, and finally reached Rs 5,800 per sq.ft in 2024, representing a 9% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 630%. There are no figures available for revisions in years other than those specified.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, making R.N.Nambiar Street's 2024 figure equal to that median.

• R.N.Nambiar Lane: Rs 4,600 per sq.ft (2024)
• R.S.Ambari Street: Rs 5,800 per sq.ft (2024)
• Rathinasabapathi Street: Rs 4,600 per sq.ft (2024)
• Rathinammal Street, Kodambakkam: Rs 8,200 per sq.ft (2024)
• Rathinammal 2nd Street, Aminjikarai: Rs 7,100 per sq.ft (2024)
• Rathinammal 1st Street, Aminjikarai: Rs 7,100 per sq.ft (2024)

Stamp duty and registration fee for property in R.N.Nambiar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 5,800 per sq.ft, the total guideline value amounts to Rs 58,00,000. The stamp duty, charged at 7%, would be Rs 4,06,000, while the registration fee at 2% would be Rs 1,16,000. The total fees together would amount to Rs 5,22,000. 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 further assistance.

Which Sub Registrar Office covers R.N.Nambiar Street?

The Sub Registrar Office that covers R.N.Nambiar Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Puliyur. It serves as a benchmark for determining the minimum value at which properties can be registered. When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, which is essential for taxation and legal purposes.

During the registration process, the guideline value is used to calculate the stamp duty and registration fees. Buyers should be aware that these fees are based on the guideline value or the sale price, whichever is higher, ensuring compliance with local regulations.

Frequently asked questions

What is the current guideline value of R.N.Nambiar Street?

The current guideline value of R.N.Nambiar Street is Rs 5,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 795 per sq.ft in 2002 to Rs 5,800 per sq.ft in 2024, reflecting an overall increase of 630% over this period.

What are the stamp duty and registration fees for properties in R.N.Nambiar Street?

For a property valued at Rs 58,00,000, the stamp duty would be Rs 4,06,000 and the registration fee would be Rs 1,16,000, totaling Rs 5,22,000.

Which office handles property registrations for R.N.Nambiar Street?

The Kodambakkam Sub Registrar Office handles property registrations for R.N.Nambiar Street, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

What is the land classification for R.N.Nambiar Street?

R.N.Nambiar Street is classified as Residential Class I Type - I, indicating its designation for residential use.