Guideline Value for NAGATHAMMAN KOIL STREET

Nagathamman Koil Street guideline value

The current guideline value of Nagathamman Koil Street is Rs 2,900 per sq.ft, effective from 1 July 2024. This street is located in Korattur village, under the Villivakkam SRO, and is classified as Residential Class II Type - II.

How the guideline value of Nagathamman Koil Street has changed

The guideline value for Nagathamman Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,700 per sq.ft, which remained unchanged in the 2023 revision. However, the 2024 revision increased the guideline value to Rs 2,900 per sq.ft, marking a 7% increase from the previous year.

In summary, from the 2012 revision to the 2024 revision, the overall increase in guideline value is 7%. It is important to note that the register has no figures for the years 2002, 2003, 2007, and 2017 for this street.

Guideline values in Korattur

In Korattur, there are 617 streets under the Villivakkam SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 8,200 per sq.ft. The median guideline value for these streets is Rs 2,500 per sq.ft, making the guideline value of Nagathamman Koil Street above that median.

• Nagavalli Nagar: Rs 2,500 per sq.ft (2024)
• Nagamman Nagar: Rs 1,600 per sq.ft (2024)
• Nammalvar Nagar: Rs 2,100 per sq.ft (2024)
• Muthamil Nagar Extension: Rs 2,100 per sq.ft (2024)
• Muthamil Nagar (All Streets): Rs 2,100 per sq.ft (2024)
• N.A.S.Avenue: Rs 2,900 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 rate of Rs 2,900 per sq.ft, the guideline value amounts to Rs 29,00,000. The stamp duty at 7% would be Rs 2,03,000, and the registration fee at 2% would be Rs 58,000, bringing the total fees together to Rs 2,61,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagathamman Koil Street?

The Sub Registrar Office that covers Nagathamman Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the Nolambur Eb Office. You can find your SRO for more details.

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

The guideline value is an essential factor in the registration process when buying or selling property in Korattur. It serves as a benchmark for calculating stamp duty and registration fees, ensuring that the transaction complies with state regulations.

Frequently asked questions

What is the current guideline value of Nagathamman Koil Street?

The current guideline value of Nagathamman Koil Street is Rs 2,900 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,700 per sq.ft in 2012 and 2023 to Rs 2,900 per sq.ft in 2024, marking a 7% increase from 2023 to 2024.

What is the land classification for Nagathamman Koil Street?

Nagathamman Koil Street is classified as Residential Class II Type - II.

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

The registration office for Nagathamman Koil Street is the Villivakkam Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for property transactions?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 2,900 per sq.ft, the total guideline value would be Rs 29,00,000.