Guideline Value for NAGAMAAL AVENUE MAIN ROAD

Nagamaal Avenue Main Road guideline value

The current guideline value of Nagamaal Avenue Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Nagamaal Avenue Main Road has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure changed to Rs 1,005 per sq.ft in the 2017 revision, marking a decrease of 33%. However, from 2017 to 2023, the value increased significantly to Rs 1,500 per sq.ft, reflecting a rise of 49%. The most recent revision in 2024 set the guideline value at Rs 1,650 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, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median value is Rs 1,650 per sq.ft, which is the same as the current guideline value for Nagamaal Avenue Main Road.

• Nagamaal Avenue 1st Street: Rs 1,650 per sq.ft (2024)
• Nagammal Avenue: Rs 1,650 per sq.ft (2024)
• Nagammal Avenue Extension: Rs 1,320 per sq.ft (2024)
• Nagathamman Koil Street: Rs 1,650 per sq.ft (2024)
• Muventhar Street Extn: Rs 1,320 per sq.ft (2024)
• Muventhar 2nd Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Nagamaal Avenue Main Road

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value would be Rs 16,50,000. The stamp duty at 7% would amount to Rs 1,15,500, while the registration fee at 2% would be Rs 33,000. Together, the total cost for stamp duty and registration would be Rs 1,48,500. 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 Nagamaal Avenue Main Road?

The Sub Registrar Office covering Nagamaal Avenue Main Road is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. To find your specific SRO, you can visit find your SRO.

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

The guideline value is an essential factor in the registration process when buying or selling property in Pallikaranai. 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 sold, the buyer must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value for Nagamaal Avenue Main Road?

The current guideline value for Nagamaal Avenue Main Road is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then to Rs 1,500 per sq.ft in 2023, and finally to Rs 1,650 per sq.ft in 2024.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500.

Which office handles registrations for Nagamaal Avenue Main Road?

The Chennai South Joint I Sub Registrar Office handles registrations for Nagamaal Avenue Main Road, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Nagamaal Avenue Main Road?

The land classification for Nagamaal Avenue Main Road is Residential Class IV Type - I.