Guideline Value for NAGAVALLIAMMAN KOIL STREET (WARD -2)

Nagavalliamman Koil Street (Ward -2) guideline value

The current guideline value for Nagavalliamman Koil Street (Ward -2) is Rs 1,321 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village, under the Chengleput Joint II SRO, and is classified as Residential Special Type - V.

How the guideline value of Nagavalliamman Koil Street (Ward -2) has changed

The guideline value for Nagavalliamman Koil Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 revision of Rs 804 per sq.ft. The value remained at Rs 1,200 per sq.ft in 2012 until it increased to Rs 804 per sq.ft in 2017.

In the subsequent revisions, the value rose significantly. The 2023 revision increased the value to Rs 1,200 per sq.ft, and the latest 2024 revision has set it at Rs 1,321 per sq.ft, marking a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Ninna Karai

Ninna Karai village has a total of 449 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 440 to Rs 3,500 per sq.ft. The median guideline value in the village is Rs 1,100 per sq.ft, placing Nagavalliamman Koil Street's 2024 figure above this median.

• Nagavalliamman Koil Street (Ward -8): Rs 1,980 per sq.ft (2024)
• Nainar Mohamed Street (Ward -7): Rs 1,321 per sq.ft (2024)
• Nakkeeran Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Nalliagodan Street (Ward -6): Rs 1,321 per sq.ft (2024)
• M.V.R.Nagar: Rs 1,980 per sq.ft (2024)
• Nammalwar Street (Ward -5): Rs 1,321 per sq.ft (2024)

Stamp duty and registration fee for property in Nagavalliamman Koil Street (Ward -2)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,321 per sq.ft, the total guideline value would be Rs 13,21,000. The stamp duty at 7% would amount to Rs 92,470, and the registration fee at 2% would be Rs 26,420, bringing the total to Rs 1,18,890. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nagavalliamman Koil Street (Ward -2)?

The Chengleput Joint II Sub Registrar Office covers Nagavalliamman Koil Street (Ward -2). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process when buying or selling property in Ninna Karai. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that transactions are conducted at a fair value.

When a buyer or seller approaches the registration office, the guideline value is referenced to calculate applicable fees and taxes, including stamp duty and registration fees. This helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value for Nagavalliamman Koil Street (Ward -2)?

The current guideline value for Nagavalliamman Koil Street (Ward -2) is Rs 1,321 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2023 to Rs 1,321 per sq.ft in 2024, marking a 10% increase. From 2017 to 2023, it increased by 49%, and from 2012 to 2017, it decreased by 33%.

What is the median guideline value in Ninna Karai?

The median guideline value in Ninna Karai is Rs 1,100 per sq.ft. Nagavalliamman Koil Street's 2024 figure of Rs 1,321 per sq.ft is above this median.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 13,21,000, the stamp duty would be Rs 92,470 and the registration fee would be Rs 26,420, totaling Rs 1,18,890. Duty is charged on the higher of the guideline value or the sale price.

Where is the Chengleput Joint II Sub Registrar Office located?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002. This office handles registrations for properties in Nagavalliamman Koil Street (Ward -2).