Guideline Value for NAGAMMAI STREET

Nagammai Street guideline value

The current guideline value of Nagammai Street in Mylapore village is Rs 8,800 per sq.ft, effective from 1 July 2024. This street falls under the Mylapore SRO and is classified as Residential Class III Type - III.

How the guideline value of Nagammai Street has changed

Over the years, the guideline value of Nagammai Street has seen significant changes. The earliest recorded value in the register is from 2002, where it was Rs 1,044 per sq.ft. This figure increased to Rs 1,160 per sq.ft in 2003, marking an 11% rise. In 2007, the value jumped to Rs 1,540 per sq.ft, reflecting a 33% increase. The 2012 revision brought the value to Rs 8,000 per sq.ft, showing a substantial increase of 419%. However, in 2017, the value decreased to Rs 5,360 per sq.ft, a decline of 33%. The 2023 revision set the value at Rs 8,000 per sq.ft, followed by a 10% increase to Rs 8,800 per sq.ft in the 2024 revision.

From 2002 to 2024, the overall increase in the guideline value is 743%. The register has no figures for the years not mentioned above, ensuring that all revisions are accounted for accurately.

Guideline values in Mylapore

Mylapore village has a total of 883 streets under the Mylapore SRO, with the 2024 guideline values ranging from Rs 3,300 to Rs 25,800 per sq.ft. The median guideline value is Rs 8,800 per sq.ft, which is the same as the current value for Nagammai Street.

• Nagappaiyar Street: Rs 8,800 per sq.ft (2024)
• Nagarathinam Colony Street: Rs 8,800 per sq.ft (2024)
• Nadu Street: Rs 8,800 per sq.ft (2024)
• Nadukuppam Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 8th Street: Rs 3,300 per sq.ft (2024)
• Nadukuppam 7th Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nagammai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 8,800 per sq.ft, the total guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, bringing the total cost for these fees to Rs 7,92,000. 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 Nagammai Street?

The Sub Registrar Office that covers Nagammai Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018. You can find your SRO for more details.

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

The guideline value plays a crucial role during the registration of property transactions in Mylapore. It is used to determine the stamp duty and registration fees that are applicable when buying or selling property. This ensures that the transaction is recorded at a value that reflects the prevailing rates in the area.

When a property is sold, the guideline value is compared with the sale price, and the higher of the two is used to calculate the stamp duty. This process helps maintain transparency and consistency in property transactions within the region.

Frequently asked questions

What is the current guideline value of Nagammai Street?

The current guideline value of Nagammai Street is Rs 8,800 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 1,044 per sq.ft in 2002 to Rs 8,800 per sq.ft in 2024, showing an overall increase of 743% over the years.

What is the stamp duty rate for properties in Nagammai Street?

The stamp duty rate for properties in Nagammai Street is 7% of the guideline value or sale price, whichever is higher.

Where is the Sub Registrar Office for Nagammai Street located?

The Sub Registrar Office for Nagammai Street is the Mylapore Sub Registrar Office, located at No:5/9, Kavingar Bharathidasan Salai, Seethamalcolony, Crescent Street, Alwarpet, Chennai - 600018.

What is the median guideline value for streets in Mylapore?

The median guideline value for streets in Mylapore is Rs 8,800 per sq.ft, which is the same as the current guideline value for Nagammai Street.