Guideline Value for Agathiar Nagar 2nd Street

Agathiar Nagar 2nd Street guideline value

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

How the guideline value of Agathiar Nagar 2nd Street has changed

The guideline value for Agathiar Nagar 2nd 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 increase of 11%. Following this, the value rose significantly to Rs 300 per sq.ft in 2007, reflecting a 188% increase. In 2012, the guideline value was recorded at Rs 2,000 per sq.ft, which was a substantial increase of 567% from the previous revision. However, it then decreased to Rs 1,340 per sq.ft in 2017, a decline of 33%. The value further increased to Rs 2,000 per sq.ft in 2023, and finally, it reached Rs 2,200 per sq.ft in the 2024 revision, showing a 10% increase.

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

Guideline values in Nerkundram

In Nerkundram, there are 476 streets under the Virugambakkam SRO that carry a 2024 guideline value ranging from Rs 1,650 to Rs 6,600 per sq.ft. The median value is Rs 2,200 per sq.ft, which is equal to the guideline value of Agathiar Nagar 2nd Street.

• Agathiar Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Agathiar Nagar 1st 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 2nd 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, bringing the total to 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.

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

Which Sub Registrar Office covers Agathiar Nagar 2nd Street?

The Agathiar Nagar 2nd Street is covered by the Virugambakkam Sub Registrar Office, located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is registered, 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 Agathiar Nagar 2nd Street?

The current guideline value of Agathiar Nagar 2nd 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 this period.

What is the stamp duty for property in Agathiar Nagar 2nd Street?

The stamp duty for property in Agathiar Nagar 2nd Street is calculated at 7% of the guideline value. For example, a 1,000 sq.ft plot would incur a stamp duty of Rs 1,54,000.

Where is the Sub Registrar Office for Agathiar Nagar 2nd Street?

The Sub Registrar Office covering Agathiar Nagar 2nd Street is located at No. 576 Mogappair West, Ambattur Industrial Estate, Chennai 600 037.

What is the land classification for Agathiar Nagar 2nd Street?

Agathiar Nagar 2nd Street falls under the Residential Class IV Type - I land classification.