Guideline Value for Agathiar Nagar 1st Street

Agathiar Nagar 1st Street guideline value

The current guideline value of Agathiar Nagar 1st Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Nerkundram village under the Virugambakkam SRO, classified as Residential Class IV Type - I.

How the guideline value of Agathiar Nagar 1st Street has changed

The guideline value for Agathiar Nagar 1st Street has undergone several revisions over the years. In 2002, the value was Rs 94 per sq.ft, which increased to Rs 104 per sq.ft in 2003, marking an 11% rise. The value saw a significant jump to Rs 300 per sq.ft in 2007, reflecting a 188% increase. By 2012, the value was Rs 2,000 per sq.ft, which was a substantial increase of 567% from the previous revision. However, in 2017, it decreased to Rs 1,340 per sq.ft, a decline of 33%. The value then rose to Rs 2,000 per sq.ft in 2023, followed by a further increase to Rs 2,200 per sq.ft in 2024, representing a 10% growth.

Overall, from 2002 to 2024, the guideline value has increased by 2240%. There are no figures available for revisions in years other than those listed above.

Guideline values in Nerkundram

Nerkundram village has a range of guideline values across its 476 streets under the Virugambakkam SRO. The 2024 figures for these streets range from Rs 1,650 to Rs 6,600 per sq.ft, with a median value of Rs 2,200 per sq.ft. Agathiar Nagar 1st Street's 2024 guideline value aligns with this median.

• Agathiar Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Agathiar Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar Annexe: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 2ns Street 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Abirami Nagar 2nd Street 2nd Cross Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Agathiar Nagar 1st 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, making the total cost for these fees 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Agathiar Nagar 1st Street?

The Agathiar Nagar 1st Street falls under the jurisdiction of the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more details.

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

The guideline value is a crucial factor in property transactions in Nerkundram. It serves as the minimum value for property registration, ensuring that the property is registered at a fair value. This value is used to calculate the stamp duty and registration fees that buyers must pay when purchasing property.

When selling property, the guideline value helps in determining the expected sale price and ensures that the transaction is compliant with local regulations. Buyers and sellers should always refer to the latest guideline values to understand their financial obligations during the transaction.

Frequently asked questions

What is the current guideline value of Agathiar Nagar 1st Street?

The current guideline value of Agathiar Nagar 1st 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 94 per sq.ft in 2002 to Rs 2,200 per sq.ft in 2024, reflecting an overall increase of 2240% over the years.

What is the stamp duty rate for property in Agathiar Nagar 1st Street?

The stamp duty rate for property transactions in Agathiar Nagar 1st Street is 7% of the guideline value or the sale price, whichever is higher.

Where is the Virugambakkam Sub Registrar Office located?

The Virugambakkam Sub Registrar Office is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What other streets have the same guideline value in Nerkundram?

Several other streets in Nerkundram have a guideline value of Rs 2,200 per sq.ft in 2024, including Agathiar Nagar 2nd Cross Street and Abirami Nagar Annexe, among others.