Guideline Value for NAGAPILLAI AVENUE

Nagapillai Avenue guideline value

The current guideline value of Nagapillai Avenue is Rs 2,800 per sq.ft, effective from 1 July 2024. This street is located in Perungudi village, under the Neelankarai SRO, and is classified as Residential Class III Type - I.

How the guideline value of Nagapillai Avenue has changed

The guideline value for Nagapillai Avenue has seen several revisions over the years. In 2002, the value was Rs 120 per sq.ft, which increased to Rs 300 per sq.ft in 2003, marking a 150% rise. By 2007, the value further increased to Rs 600 per sq.ft, a growth of 100%. The 2012 revision set the value at Rs 2,500 per sq.ft, which was a significant 317% increase from 2007. However, in 2017, the value dropped to Rs 1,675 per sq.ft, reflecting a decrease of 33%. The 2023 revision brought the value back up to Rs 2,500 per sq.ft, and the most recent 2024 revision set it at Rs 2,800 per sq.ft, a 12% increase from the previous year.

Overall, from 2002 to 2024, the guideline value has increased by 2,233%. There are no figures available for the revisions in the years not listed for this street.

Guideline values in Perungudi

In Perungudi village, there are 249 streets under the Neelankarai SRO with a 2024 guideline value ranging from Rs 1,100 to Rs 8,800 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that the guideline value of Nagapillai Avenue is below this median.

• Munusamy Street: Rs 2,800 per sq.ft (2024)
• Nehru Nagar: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 1st (Cross) Street: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 1st Extension: Rs 6,600 per sq.ft (2024)
• Nehru Nagar 1st Link Road: Rs 5,500 per sq.ft (2024)
• Nehru Nagar 1st Main Road: Rs 6,600 per sq.ft (2024)

Stamp duty and registration fee for property in Nagapillai Avenue

For a 1,000 sq.ft plot at the current guideline value of Rs 2,800 per sq.ft, the total guideline value would be Rs 28,00,000. The stamp duty, charged at 7%, would amount to Rs 1,96,000, and the registration fee, charged at 2%, would be Rs 56,000. Together, the total cost for stamp duty and registration would be Rs 2,52,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nagapillai Avenue?

The Sub Registrar Office that covers Nagapillai Avenue is the Neelankarai Sub Registrar Office, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Perungudi. It is used to determine the stamp duty and registration fees applicable to the property being bought or sold. Buyers and sellers must be aware of the current guideline value to ensure compliance with legal requirements and financial planning.

When registering a property, the guideline value serves as a benchmark to assess the value of the property. It is essential for buyers to understand that the stamp duty is calculated based on the higher of the guideline value or the sale price, which may affect the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Nagapillai Avenue?

The current guideline value of Nagapillai Avenue is Rs 2,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 120 per sq.ft in 2002 to Rs 2,800 per sq.ft in 2024, reflecting an overall increase of 2,233% over the years.

What are the stamp duty and registration fees for property in Nagapillai Avenue?

For a property valued at Rs 28,00,000, the stamp duty would be Rs 1,96,000 and the registration fee would be Rs 56,000, totaling Rs 2,52,000.

Which Sub Registrar Office covers Nagapillai Avenue?

The Neelankarai Sub Registrar Office covers Nagapillai Avenue, located at 2/71, Gajura Garden, 2nd St, East Coast Road, Neelangarai, Ch-41, Chennai registration zone.

What is the land classification of Nagapillai Avenue?

Nagapillai Avenue is classified as Residential Class III Type - I, which is important for understanding its usage and development potential.