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 Pallikaranai village, under the Chennai South Joint I SRO, and is classified as Residential Class IV Type - I.

How the guideline value of Nagathamman Koil Street has changed

In the 2012 revision, the guideline value was Rs 1,500 per sq.ft. This figure decreased to Rs 1,005 per sq.ft in the 2017 revision, marking a decline of 33%. However, from 2017 to the 2024 revision, the guideline value increased by 64%, reaching the current value of Rs 1,650 per sq.ft.

There are no figures available for the revisions in 2002, 2003, 2007, and 2023 for Nagathamman Koil Street. Overall, comparing the 2012 and 2024 revisions, there has been a slight increase of 10% in the guideline value.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with guideline values ranging from Rs 1,110 to Rs 8,580 per sq.ft. The median guideline value for these streets is Rs 1,650 per sq.ft, which is the same as the current value for Nagathamman Koil Street.

• Nageshwariamman Nagar: Rs 1,650 per sq.ft (2024)
• Nagammal Avenue Extension: Rs 1,320 per sq.ft (2024)
• Nagammal Avenue: Rs 1,650 per sq.ft (2024)
• Nagamaal Avenue Main Road: Rs 1,650 per sq.ft (2024)
• Nagamaal Avenue 1st Street: Rs 1,650 per sq.ft (2024)
• Nakeerar Street: Rs 2,200 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 is 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 to Rs 1,48,500. It is important to note that duty is charged on the higher of the guideline value and the sale price.

You can use the stamp duty and registration fee calculator for more detailed calculations.

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 Pallikaranai

The guideline value is a crucial factor in the registration process of property transactions in Pallikaranai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees that are applicable. This ensures that all parties involved are aware of the financial obligations associated with the transaction.

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 seen several revisions, with the most recent being Rs 1,650 per sq.ft in 2024. It decreased from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, before increasing to the current value.

What is the classification of land on Nagathamman Koil Street?

Nagathamman Koil Street is classified as Residential Class IV Type - I, indicating its suitability for residential purposes.

Where can I find the Sub Registrar Office for Nagathamman Koil Street?

The Sub Registrar 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 Pallikaranai?

Stamp duty is calculated based on the guideline value or the sale price of the property, whichever is higher. This ensures that the registration reflects the true value of the property being transferred.