Guideline Value for Lurthu Madha Street, Nagelkeni

Lurthu Madha Street, Nagelkeni guideline value

The current guideline value of Lurthu Madha Street, Nagelkeni is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Pammal village, under the Pammal SRO, and is classified as Residential Class II Type - II.

How the guideline value of Lurthu Madha Street, Nagelkeni has changed

The guideline value for Lurthu Madha Street has seen several revisions over the years. The 2017 revision set the value at Rs 1,206 per sq.ft. This increased significantly to Rs 1,800 per sq.ft in the 2023 revision, marking a 49% rise. The most recent revision in 2024 raised the value further to Rs 1,980 per sq.ft, which is a 10% increase from the previous year.

It is important to note that there are no figures available for the revisions in 2002, 2003, 2007, and 2012 for this street. Overall, from 2017 to 2024, the guideline value has increased by 64%.

Guideline values in Pammal

In Pammal, there are 926 streets under the Pammal SRO that carry a 2024 guideline value ranging from Rs 880 to Rs 3,300 per sq.ft, with a median value of Rs 2,090 per sq.ft. Lurthu Madha Street's 2024 figure of Rs 1,980 per sq.ft is below this median.

• Lurth Madha Street: Rs 1,980 per sq.ft (2024)
• Maamalan Street: Rs 1,760 per sq.ft (2024)
• Madavi Street / Muthamzhi Nagar: Rs 2,475 per sq.ft (2024)
• Madha Koil Street: Rs 1,980 per sq.ft (2024)
• Loganathan Street / Hindustan Lever Colony: Rs 2,530 per sq.ft (2024)
• Madhakoil Street, Nagelkeni: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Lurthu Madha Street, Nagelkeni

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, and the registration fee at 2% would be Rs 39,600, making the total cost for these fees Rs 1,78,200. 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 Lurthu Madha Street, Nagelkeni?

The Sub Registrar Office that covers Lurthu Madha Street, Nagelkeni is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Pammal. It determines the minimum value at which a property can be registered and is used to calculate the applicable stamp duty and registration fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair value, thus preventing undervaluation. Buyers and sellers must consider this value when negotiating sale prices to ensure compliance with local regulations.

Frequently asked questions

What is the current guideline value of Lurthu Madha Street, Nagelkeni?

The current guideline value of Lurthu Madha Street, Nagelkeni is Rs 1,980 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 1,206 per sq.ft in 2017 to Rs 1,980 per sq.ft in 2024, marking an overall increase of 64% over this period.

What is the registration fee for property in Lurthu Madha Street?

The registration fee for property in Lurthu Madha Street is calculated based on the guideline value. For a property valued at Rs 19,80,000, the registration fee would be Rs 39,600 at a rate of 2%.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, Chengalpattu registration zone.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the minimum price at which a property can be registered. It is essential for calculating stamp duty and registration fees, ensuring that property transactions are recorded at a fair value.