Guideline Value for NAGARJUNA NAGAR 2ND STREET

Nagarjuna Nagar 2nd Street guideline value

The current guideline value for Nagarjuna Nagar 2nd Street is Rs 7,100 per sq.ft, effective from 1 July 2024. This street is located in Puliyur village under the Kodambakkam SRO, and it falls under the Residential Special Type - II land classification.

How the guideline value of Nagarjuna Nagar 2nd Street has changed

Since the 2003 revision, the guideline value for Nagarjuna Nagar 2nd Street has seen significant changes. The 2003 revision recorded a guideline value of Rs 1,099 per sq.ft. This figure increased to Rs 1,800 per sq.ft in 2007, marking a rise of 64%. The value then surged to Rs 6,500 per sq.ft in 2012, reflecting a remarkable increase of 261%. However, it dropped to Rs 4,355 per sq.ft in 2017, a decrease of 33%. The value climbed again to Rs 6,500 per sq.ft in 2023, followed by a further increase to the current Rs 7,100 per sq.ft in 2024, which is a rise of 9%.

Overall, from 2003 to 2024, the guideline value has increased by 546%. Notably, there is no figure available for the year 2002 in the register for this street.

Guideline values in Puliyur

In Puliyur, there are 648 streets under the Kodambakkam SRO that carry a 2024 guideline value, ranging from Rs 3,300 to Rs 14,300 per sq.ft. The median value for these streets is Rs 5,800 per sq.ft, positioning Nagarjuna Nagar 2nd Street above this median with its current value of Rs 7,100 per sq.ft.

• Nagarjuna Nagar 1st Street: Rs 7,100 per sq.ft (2024)
• Nakkeeran Street: Rs 6,300 per sq.ft (2024)
• Muthu Thottam: Rs 3,800 per sq.ft (2024)
• Muthurulandi Colony 2nd Main Road: Rs 3,800 per sq.ft (2024)
• Muthurulandi Colony 1st Main Road: Rs 3,800 per sq.ft (2024)
• Muthurulandi Colony: Rs 3,800 per sq.ft (2024)

Stamp duty and registration fee for property in Nagarjuna Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 7,100 per sq.ft, the total guideline value amounts to Rs 71,00,000. The stamp duty at 7% would be Rs 4,97,000, and the registration fee at 2% would be Rs 1,42,000, bringing the total to Rs 6,39,000. 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 detailed calculations.

Which Sub Registrar Office covers Nagarjuna Nagar 2nd Street?

The Sub Registrar Office that covers Nagarjuna Nagar 2nd Street is the Kodambakkam Sub Registrar Office, located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026. You can find your SRO for more information.

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

The guideline value is a crucial factor in property transactions in Puliyur, as it determines the minimum price at which a property can be registered. Buyers and sellers must consider this value when negotiating sale prices, as the registration fees and stamp duties are calculated based on the guideline value or the sale price, whichever is higher.

When registering a property, it is essential to ensure that the sale price is not lower than the guideline value to avoid legal complications. The guideline value serves as a benchmark for both buyers and sellers, ensuring transparency in property transactions.

Frequently asked questions

What is the current guideline value of Nagarjuna Nagar 2nd Street?

The current guideline value of Nagarjuna Nagar 2nd Street is Rs 7,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

Over the years, the guideline value has seen significant fluctuations, from Rs 1,099 per sq.ft in 2003 to Rs 7,100 per sq.ft in 2024, marking an overall increase of 546%.

What is the median guideline value in Puliyur?

The median guideline value for streets in Puliyur is Rs 5,800 per sq.ft, with Nagarjuna Nagar 2nd Street's current value being above this median.

Where is the Kodambakkam Sub Registrar Office located?

The Kodambakkam Sub Registrar Office is located at 2/31, Azhagiri Nagar 5th Street, Vadapalani, Chennai - 600 026.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 71,00,000, the total stamp duty and registration fees would amount to Rs 6,39,000.