Guideline Value for NAGALAKSHMI NAGAR

Nagalakshmi Nagar guideline value

The current guideline value of Nagalakshmi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024. This area is located in Chitthalapakkam village and falls under the Selaiyur SRO. The land classification for this street is Residential Special Type - III.

How the guideline value of Nagalakshmi Nagar has changed

The guideline value of Nagalakshmi Nagar has seen several revisions over the years. The 2012 revision set the value at Rs 3,000 per sq.ft, which then decreased to Rs 2,010 per sq.ft in the 2017 revision. After this, the value increased significantly to Rs 3,000 per sq.ft in the 2023 revision, and currently, it stands at Rs 3,300 per sq.ft from the 2024 revision, marking a 10% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall change is a 10% increase. The changes from the 2017 revision to 2023 saw a notable rise of 49%, while the 2012 to 2017 period recorded a decrease of 33%. It is important to note that there are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Chitthalapakkam

In Chitthalapakkam, there are 107 streets under the Selaiyur SRO that carry a 2024 guideline value, ranging from Rs 1,300 to Rs 5,000 per sq.ft. The median value for these streets is Rs 2,900 per sq.ft, placing Nagalakshmi Nagar's current value above this median.

• Nagalakshmi Nagar Extension: Rs 3,300 per sq.ft (2024)
• Mullai Nagar: Rs 2,900 per sq.ft (2024)
• Nethaji Street: Rs 2,400 per sq.ft (2024)
• M.G.R. Street: Rs 2,700 per sq.ft (2024)
• N.S.K. Street: Rs 2,900 per sq.ft (2024)
• Ottiambakkam Sithalapakkam Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nagalakshmi Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total fees to Rs 2,97,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagalakshmi Nagar?

The Sub Registrar Office that covers Nagalakshmi Nagar is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when buying or selling property in Chitthalapakkam. It serves as a benchmark for determining the minimum value at which a property can be registered. This value is used to calculate the stamp duty and registration fees, which are necessary for the legal transfer of property ownership.

Frequently asked questions

What is the current guideline value of Nagalakshmi Nagar?

The current guideline value of Nagalakshmi Nagar is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 3,000 per sq.ft in 2023 to Rs 3,300 per sq.ft in 2024, representing a 10% increase. It was Rs 2,010 per sq.ft in 2017 and Rs 3,000 per sq.ft in 2012, showing various fluctuations over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations in Nagalakshmi Nagar?

The Selaiyur Sub Registrar Office is responsible for property registrations in Nagalakshmi Nagar. It is located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification for Nagalakshmi Nagar?

The land classification for Nagalakshmi Nagar is Residential Special Type - III, indicating its suitability for residential development.