Guideline Value for Agastheesvarar Nagar

Agastheesvarar Nagar guideline value

The current guideline value of Agastheesvarar Nagar is Rs 2,750 per sq.ft, effective from 1 July 2024. This area is located in Nemilicherry village under the Pallavaram SRO and is classified as Commercial Class I Type - II.

How the guideline value of Agastheesvarar Nagar has changed

The guideline value for Agastheesvarar Nagar has seen several revisions over the years. In the 2007 revision, the value was set at Rs 250 per sq.ft. This figure increased dramatically to Rs 2,500 per sq.ft in the 2012 revision, marking a significant rise of 900%. However, in the 2017 revision, the value decreased to Rs 1,675 per sq.ft, a drop of 33%. The 2023 revision then raised the value to Rs 2,500 per sq.ft, followed by another increase to Rs 2,750 per sq.ft in the 2024 revision, which is a 10% rise from the previous year. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 1000%, reflecting the changes in the property market over the years.

Guideline values in Nemilicherry

In Nemilicherry village, there are 172 streets under the Pallavaram SRO that carry a 2024 guideline value ranging from Rs 1,100 to Rs 3,300 per sq.ft, with a median value of Rs 2,160 per sq.ft. The guideline value for Agastheesvarar Nagar is above this median, indicating its higher valuation.

• A.G.S. Colony: Rs 2,420 per sq.ft (2024)
• A.G.S.Staff Colony: Rs 2,420 per sq.ft (2024)
• Abirami Nagar: Rs 2,160 per sq.ft (2024)
• Alamaram Street: Rs 2,420 per sq.ft (2024)
• Amaravathi Street: Rs 1,100 per sq.ft (2024)
• Ambedkar Nagar: Rs 2,160 per sq.ft (2024)

Stamp duty and registration fee for property in Agastheesvarar Nagar

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

Which Sub Registrar Office covers Agastheesvarar Nagar?

The Sub Registrar Office that covers Agastheesvarar Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Nemilicherry. When buying or selling a property, the guideline value is used to determine the stamp duty and registration fees, ensuring that the transaction is recorded accurately in the official register.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the costs associated with property registration. Proper understanding of this value can help in making informed decisions during property transactions.

Frequently asked questions

What is the current guideline value of Agastheesvarar Nagar?

The current guideline value of Agastheesvarar Nagar 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 changed significantly from Rs 250 per sq.ft in 2007 to Rs 2,750 per sq.ft in 2024, reflecting an overall increase of 1000% over this period.

What is the land classification of Agastheesvarar Nagar?

Agastheesvarar Nagar is classified as Commercial Class I Type - II, indicating its suitability for commercial activities.

Where can I find the registration office for Agastheesvarar Nagar?

The registration office for Agastheesvarar Nagar is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

How is stamp duty calculated for properties in Agastheesvarar Nagar?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,50,000, the stamp duty at 7% would amount to Rs 1,92,500.