Guideline Value for Agathiar Nagar 2nd Cross Street

Agathiar Nagar 2nd Cross Street guideline value

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

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

The guideline value for Agathiar Nagar 2nd Cross Street has undergone several revisions over the years. The earliest recorded figure is from 2002, with a value of Rs 94 per sq.ft. This increased to Rs 104 per sq.ft in 2003, marking an increase of 11%. The value then rose significantly to Rs 300 per sq.ft in 2007, a change of 188%. Following this, the value surged to Rs 2,000 per sq.ft in 2012, reflecting a remarkable increase of 567%. However, the value dropped to Rs 1,340 per sq.ft in 2017, showing a decrease of 33%. The next revision in 2023 saw an increase to Rs 2,000 per sq.ft, followed by the current value of Rs 2,200 per sq.ft in 2024, which represents a 10% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,240%. There are no figures available for any revisions prior to 2002 or for any other years not listed in the register.

Guideline values in Nerkundram

Nerkundram village has a total of 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 guideline value for these streets is Rs 2,200 per sq.ft, which is also the current value for Agathiar Nagar 2nd Cross Street.

• Agathiar Nagar 1st 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 2nd Cross 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. Together, the total cost for these fees would be Rs 1,98,000. It is important to note that 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 Agathiar Nagar 2nd Cross Street?

The Sub Registrar Office that covers Agathiar Nagar 2nd Cross Street is 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 critical factor in the registration process when buying or selling property in Nerkundram. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

When a property is sold, the guideline value is used to calculate the stamp duty and registration fees, ensuring that both parties are aware of the financial obligations involved. This value is essential for both buyers and sellers to understand the costs associated with property transactions in the area.

Frequently asked questions

What is the current guideline value of Agathiar Nagar 2nd Cross Street?

The current guideline value of Agathiar Nagar 2nd Cross 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 2,240% over the years.

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

The land classification for Agathiar Nagar 2nd Cross Street is Residential Class IV Type - I.

Where can I find the Sub Registrar Office for Agathiar Nagar 2nd Cross Street?

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

How is the stamp duty calculated for properties in Agathiar Nagar 2nd Cross Street?

The stamp duty for properties in Agathiar Nagar 2nd Cross Street is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applicable.