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 Sattamangalam 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 seen several revisions over the years. The 2012 revision set the value at Rs 1,800 per sq.ft, which was then reduced to Rs 1,206 per sq.ft in the 2017 revision, marking a decrease of 33%. However, the value increased significantly to Rs 1,800 per sq.ft in the 2023 revision, followed by a further increase to Rs 1,980 per sq.ft in the 2024 revision, representing a 10% rise from the previous year.

From 2017 to 2023, there was a notable increase of 49%. Overall, comparing the 2012 and 2024 revisions, the guideline value has increased by 10%. It is important to note that the register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Sattamangalam

In Sattamangalam, there are a total of 425 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median value among these streets is Rs 1,100 per sq.ft, placing Nagavalliamman Koil Street's 2024 figure above this median.

• Nagavalliamman Koil Street (Ward -2): Rs 1,320 per sq.ft (2024)
• Nainar Mohamed Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Nakkeeran Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Nalliagodan Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Nammalwar Street (Ward -5): Rs 1,320 per sq.ft (2024)
• Nanmullaiyar Street (Ward -7): Rs 1,320 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 amounts to Rs 19,80,000. The stamp duty at 7% would be Rs 1,38,600, while the registration fee at 2% would be Rs 39,600, bringing the total cost together to Rs 1,78,200. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

For further calculations, 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. To find your specific SRO, you can visit find your SRO.

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

The guideline value plays a crucial role in property transactions in Sattamangalam. When buying or selling property, this value is used to determine the stamp duty and registration fees that need to be paid. It is essential for both buyers and sellers to be aware of the current guideline value to ensure compliance with local regulations.

During the registration process, the guideline value is considered alongside the sale price, with the higher amount being used to calculate the applicable duties and fees. This ensures that the transaction is accurately recorded and that the appropriate taxes are collected by the government.

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 from Rs 1,800 per sq.ft in 2012 to Rs 1,206 per sq.ft in 2017, then back to Rs 1,800 per sq.ft in 2023, and finally to Rs 1,980 per sq.ft in 2024.

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

For a 1,000 sq.ft property at the current guideline value, the total guideline value is 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.

Which Sub Registrar Office serves Nagavalliamman Koil Street (Ward -8)?

The Chengleput Joint II Sub Registrar Office serves Nagavalliamman Koil Street (Ward -8), located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the guideline value used in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for buyers and sellers to know the current guideline value to ensure compliance with local regulations.