Guideline Value for NAGATHAMMAN KOIL STREET

Nagathamman Koil Street guideline value

The current guideline value of Nagathamman Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024. This street is located in Jelandianpettai village and falls under the Chennai South Joint I SRO. The land classification for this area is Residential Class IV Type - I.

How the guideline value of Nagathamman Koil Street has changed

The guideline value for Nagathamman Koil Street has undergone several revisions. In 2012, the value was Rs 1,500 per sq.ft. This figure remained until the next revision in 2017, where it decreased to Rs 1,005 per sq.ft, marking a decline of 33%. However, from 2017 to 2023, the value saw a significant increase of 49%, rising to Rs 1,500 per sq.ft. The most recent revision in 2024 set the guideline value at Rs 1,650 per sq.ft, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Jelandianpettai

In Jelandianpettai, there are 248 streets under the Chennai South Joint I SRO that have a 2024 guideline value ranging from Rs 1,320 to Rs 7,500 per sq.ft. The median guideline value is Rs 2,200 per sq.ft, which means that the guideline value of Nagathamman Koil Street is below this median.

• Muthu Vinayagar Kovil Street- Pallavan Nagar: Rs 1,870 per sq.ft (2024)
• Muthu Nagar: Rs 2,200 per sq.ft (2024)
• Nehru Street: Rs 1,650 per sq.ft (2024)
• Nesavalar Nagar- Mgr Street: Rs 1,320 per sq.ft (2024)
• Nesavalar Nagar V.O.C Street: Rs 1,320 per sq.ft (2024)
• Nesavalar Nagar -West Street: Rs 1,320 per sq.ft (2024)

Stamp duty and registration fee for property in Nagathamman Koil Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,650 per sq.ft, the total guideline value amounts to Rs 16,50,000. The stamp duty at 7% would be Rs 1,15,500, and the registration fee at 2% would be Rs 33,000, bringing the total cost for these fees to Rs 1,48,500. It is important to note that 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 Nagathamman Koil Street?

The Sub Registrar Office that covers Nagathamman Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035. You can find your SRO for more information.

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

The guideline value is an essential factor during the registration of property transactions in Jelandianpettai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value helps both parties understand the fair valuation of the property. It is crucial to be aware of the current guideline value to ensure compliance with legal requirements during the registration process.

Frequently asked questions

What is the current guideline value of Nagathamman Koil Street?

The current guideline value of Nagathamman Koil Street is Rs 1,650 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, then increased to Rs 1,500 per sq.ft in 2023, and finally set at Rs 1,650 per sq.ft in 2024.

What is the land classification for Nagathamman Koil Street?

The land classification for Nagathamman Koil Street is Residential Class IV Type - I.

Where can I find the registration office for Nagathamman Koil Street?

The registration office for Nagathamman Koil Street is the Chennai South Joint I Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai -600 035.

How is stamp duty calculated for properties in Nagathamman Koil Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500.