Guideline Value for JAGADAMBIKAI NAGAR 'NAMMALVAR STREET'

Jagadambikai Nagar 'nammalvar Street' guideline value

The current guideline value of Jagadambikai Nagar 'nammalvar Street' is Rs 3,400 per sq.ft, effective from 1 July 2024. This street is located in Padi village under the Villivakkam SRO, classified as Residential Class IV Type - II.

How the guideline value of Jagadambikai Nagar 'nammalvar Street' has changed

The guideline value for Jagadambikai Nagar 'nammalvar Street' has seen several revisions over the years. The 2012 revision set the value at Rs 3,100 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 2,077 per sq.ft. The 2023 revision increased the value to Rs 3,100 per sq.ft, and the most recent 2024 revision raised it to Rs 3,400 per sq.ft, reflecting a 10% increase from the previous year.

For the years 2002, 2003, and 2007, the register has no figure for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Padi

In Padi village, there are 354 streets under the Villivakkam SRO, with guideline values ranging from Rs 2,200 to Rs 13,200 per sq.ft. The median value is Rs 3,800 per sq.ft, placing the 2024 guideline value of Jagadambikai Nagar 'nammalvar Street' below this median.

• Jagadambikai Nagar 'manikavasakar Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar (Padi): Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'easwaran Koil Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'sekhizhar Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Nagar 'appar Street': Rs 3,400 per sq.ft (2024)
• Jagadambikai Street: Rs 3,400 per sq.ft (2024)

Stamp duty and registration fee for property in Jagadambikai Nagar 'nammalvar Street'

For a 1,000 sq.ft plot at the current guideline value of Rs 3,400 per sq.ft, the total guideline value would be Rs 34,00,000. The stamp duty at 7% would amount to Rs 2,38,000, and the registration fee at 2% would be Rs 68,000, bringing the total fees to Rs 3,06,000. It is important to note that duty is charged on the guideline value or the sale price, whichever is higher.

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

Which Sub Registrar Office covers Jagadambikai Nagar 'nammalvar Street'?

The Jagadambikai Nagar 'nammalvar Street' falls under the jurisdiction of the Villivakkam Sub Registrar Office. The office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Padi. When you buy or sell a property, the guideline value determines the amount of stamp duty and registration fees that must be paid. It serves as a benchmark for the minimum value at which the property can be registered.

During the registration process, the authorities will assess the property based on the guideline value. This ensures that the transaction is recorded accurately and that the appropriate taxes are collected based on the established guideline value.

Frequently asked questions

What is the current guideline value of Jagadambikai Nagar 'nammalvar Street'?

The current guideline value of Jagadambikai Nagar 'nammalvar Street' is Rs 3,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,100 per sq.ft in 2023 to Rs 3,400 per sq.ft in 2024, showing a 10% increase. It was Rs 2,077 per sq.ft in 2017, and Rs 3,100 per sq.ft in 2012, reflecting various changes over the years.

What is the land classification of Jagadambikai Nagar 'nammalvar Street'?

Jagadambikai Nagar 'nammalvar Street' is classified as Residential Class IV Type - II.

Where can I find the Villivakkam Sub Registrar Office?

The Villivakkam Sub Registrar Office is located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office.

How is the stamp duty calculated for properties in Padi?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 34,00,000, the stamp duty would be Rs 2,38,000 at a rate of 7%.