Guideline Value for NAGAMMAIYAR STREET

Nagammaiyar Street guideline value

The current guideline value of Nagammaiyar Street is Rs 2,700 per sq.ft, effective from 1 July 2024. This street is located in Perambur village under the Purasaivakkam SRO, classified as Residential Class III Type - II.

How the guideline value of Nagammaiyar Street has changed

The guideline value for Nagammaiyar Street has undergone several revisions over the years. In 2007, the guideline value was Rs 550 per sq.ft, which increased significantly to Rs 2,500 per sq.ft in 2012. However, this figure saw a decrease to Rs 1,675 per sq.ft in 2017. The value then rose sharply to Rs 2,500 per sq.ft in 2023, followed by a further increase to the current rate of Rs 2,700 per sq.ft in 2024. The changes between these revisions include a 355% increase from 2007 to 2012, a 33% decrease from 2012 to 2017, a 49% increase from 2017 to 2023, and an 8% increase from 2023 to 2024.

It is important to note that the register has no figures for Nagammaiyar Street for the years 2002 and 2003.

Guideline values in Perambur

In Perambur village, there are 1,114 streets under the Purasaivakkam SRO that carry a guideline value for 2024, ranging from Rs 1,600 to Rs 7,100 per sq.ft. The median guideline value is Rs 2,700 per sq.ft, which matches the current value of Nagammaiyar Street.

• Nagathamman Koil Sathyavanimuthu 1st Lane: Rs 2,700 per sq.ft (2024)
• Nagathamman Koil Sathyavani Muthu 3rd Lane: Rs 2,700 per sq.ft (2024)
• Nagathamman Koil Sathyavani Muthu 4th Lane: Rs 2,700 per sq.ft (2024)
• Nagathamman Koil Sathyavani Muthu 5th Lane: Rs 2,700 per sq.ft (2024)
• Nagathamman Koil Sathyavanimuthu 6th Lane: Rs 2,700 per sq.ft (2024)
• Nagathamman Koil Sathyavani Muthu 7th Lane: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nagammaiyar Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,700 per sq.ft, the total guideline value amounts to Rs 27,00,000. The stamp duty at 7% would be Rs 1,89,000, and the registration fee at 2% would be Rs 54,000, bringing the total to Rs 2,43,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nagammaiyar Street?

The Sub Registrar Office that covers Nagammaiyar Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012. You can find your SRO for more information.

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

The guideline value is a crucial factor in the registration process when buying or selling property in Perambur. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that all transactions are conducted fairly and transparently.

When a property is sold, the guideline value is compared to the sale price, and the higher of the two is used to calculate the applicable duties. This practice helps maintain consistency in property valuations across the region.

Frequently asked questions

What is the current guideline value of Nagammaiyar Street?

The current guideline value of Nagammaiyar Street is Rs 2,700 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value of Nagammaiyar Street has changed from Rs 550 per sq.ft in 2007 to Rs 2,700 per sq.ft in 2024, reflecting a significant increase over the years.

What is the land classification of Nagammaiyar Street?

Nagammaiyar Street is classified as Residential Class III Type - II, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Nagammaiyar Street?

The Sub Registrar Office for Nagammaiyar Street is the Purasaivakkam Sub Registrar Office, located at 93/1, Bricklin Road, Otteri, Chennai- 600 012.

How is stamp duty calculated for properties in Nagammaiyar Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price of the property. For example, for a property valued at Rs 27,00,000, the stamp duty would be Rs 1,89,000 at a rate of 7%.