Guideline Value for NAGARATHINAM STREET

Nagarathinam Street guideline value

The current guideline value of Nagarathinam Street is Rs 2,750 per sq.ft, effective from 1 July 2024. This street is located in Issa Pallavaram village, under the Pallavaram SRO, and is classified as Residential Class I Type - III.

How the guideline value of Nagarathinam Street has changed

Over the years, the guideline value of Nagarathinam Street has seen several revisions. The 2012 revision set the value at Rs 2,500 per sq.ft, which was then reduced to Rs 1,675 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,500 per sq.ft, and the most recent 2024 revision raised it to Rs 2,750 per sq.ft.

From 2012 to 2017, there was a decrease of 33%, but from 2017 to 2023, the value increased by 49%. The change from 2023 to 2024 reflects a 10% increase, resulting in an overall increase of 10% from 2012 to 2024.

Guideline values in Issa Pallavaram

In Issa Pallavaram, there are 110 streets under the Pallavaram SRO that have a 2024 guideline value ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 3,300 per sq.ft, indicating that Nagarathinam Street's 2024 value is below this median.

• Muthuswamy Street: Rs 3,850 per sq.ft (2024)
• Muthuswamy Cross Street: Rs 3,300 per sq.ft (2024)
• Narayanaswamy 1st Street: Rs 2,200 per sq.ft (2024)
• Narayanaswamy 2nd Street: Rs 2,200 per sq.ft (2024)
• Narayanaswamy Street: Rs 2,200 per sq.ft (2024)
• Munvar Avenue 3rd Street: Rs 4,950 per sq.ft (2024)

Stamp duty and registration fee for property in Nagarathinam Street

For a 1,000 sq.ft plot at the current rate of Rs 2,750 per sq.ft, the guideline value amounts to Rs 27,50,000. The stamp duty at 7% would be Rs 1,92,500, and the registration fee at 2% would be Rs 55,000, totaling Rs 2,47,500. It is important to note that the 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 precise calculations.

Which Sub Registrar Office covers Nagarathinam Street?

The Sub Registrar Office that covers Nagarathinam Street is the Pallavaram Sub Registrar Office, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role during the registration of property transactions in Issa Pallavaram. It serves as a benchmark for determining the minimum value at which properties can be registered, ensuring transparency in the real estate market.

When buying or selling property, the guideline value is used to calculate the applicable stamp duty and registration fees. Buyers should be aware that these costs are based on the guideline value or the sale price, whichever is higher.

Frequently asked questions

What is the current guideline value of Nagarathinam Street?

The current guideline value of Nagarathinam Street is Rs 2,750 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,500 per sq.ft in 2012 to Rs 1,675 per sq.ft in 2017, then back to Rs 2,500 per sq.ft in 2023, and finally to Rs 2,750 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on Nagarathinam Street?

For a property valued at Rs 27,50,000, the stamp duty would be Rs 1,92,500 and the registration fee would be Rs 55,000, totaling Rs 2,47,500.

Which Sub Registrar Office is responsible for Nagarathinam Street?

The Pallavaram Sub Registrar Office is responsible for Nagarathinam Street, located at 7th Main Road, New Colony, Chromepet, Jameen Pallavaram, Chennai-600044, Chengalpattu registration zone.

What is the median guideline value in Issa Pallavaram?

The median guideline value in Issa Pallavaram is Rs 3,300 per sq.ft, with Nagarathinam Street's value being below this median at Rs 2,750 per sq.ft.