Guideline Value for NAGAVALLIAMMAN KOIL STREET(WARD -8)

Nagavalliamman Koil Street(Ward -8) guideline value

The current guideline value of Nagavalliamman Koil Street (Ward -8) is Rs 1,980 per sq.ft, effective from 1 July 2024. This street is located in Ninna Karai village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Nagavalliamman Koil Street(Ward -8) has changed

The guideline value for Nagavalliamman Koil Street has undergone several revisions over the years. In the 2012 revision, the guideline value was Rs 1,800 per sq.ft. This was followed by a decrease to Rs 1,206 per sq.ft in the 2017 revision, representing a -33% change. The 2023 revision saw an increase to Rs 1,800 per sq.ft, and the most recent 2024 revision has set the value at Rs 1,980 per sq.ft, marking a +10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for this street. 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 for these streets is Rs 1,100 per sq.ft, placing the 2024 figure for Nagavalliamman Koil Street above this median.

• Nagavalliamman Koil Street (Ward -2): Rs 1,321 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)
• Nammalwar Street (Ward -5): Rs 1,321 per sq.ft (2024)
• M.V.R.Nagar: Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Nagavalliamman Koil Street(Ward -8)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,980 per sq.ft, the total guideline value would be Rs 19,80,000. The stamp duty at 7% would amount to Rs 1,38,600, while the registration fee at 2% would be Rs 39,600. Together, these fees would total Rs 1,78,200. 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 -8)?

The Sub Registrar Office that covers Nagavalliamman Koil Street (Ward -8) is the Chengleput Joint II Sub Registrar Office, 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

When buying or selling property in Ninna Karai, the guideline value plays a crucial role in determining the registration fees. Buyers must pay stamp duty and registration fees based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

It is essential for buyers and sellers to be aware of the current guideline value as it directly impacts the overall cost of the transaction. Understanding this value helps in making informed decisions during the registration process.

Frequently asked questions

What is the current guideline value of Nagavalliamman Koil Street (Ward -8)?

The current guideline value of Nagavalliamman Koil Street (Ward -8) is Rs 1,980 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed several times, with the most recent increase from Rs 1,800 per sq.ft in 2023 to Rs 1,980 per sq.ft in 2024, a +10% change. From 2012 to 2017, the value decreased from Rs 1,800 to Rs 1,206 per sq.ft, and then increased to Rs 1,800 in 2023.

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

For a property valued at Rs 19,80,000, the stamp duty would be Rs 1,38,600, and the registration fee would be Rs 39,600, totaling Rs 1,78,200. These fees are calculated based on the guideline value or the sale price, whichever is higher.

Which office handles the registration for Nagavalliamman Koil Street?

The Chengleput Joint II Sub Registrar Office handles the registration for Nagavalliamman Koil Street (Ward -8). It is located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

What is the median guideline value for streets in Ninna Karai?

The median guideline value for the 449 streets in Ninna Karai is Rs 1,100 per sq.ft. The guideline value for Nagavalliamman Koil Street is above this median, reflecting its current value of Rs 1,980 per sq.ft.