Guideline Value for NAGESHWARIAMMAN NAGAR

Nageshwariamman Nagar guideline value

The current guideline value of Nageshwariamman Nagar is Rs 1,650 per sq.ft, effective from 1 July 2024. This area is located in Pallikaranai village and falls under the Chennai South Joint I SRO. The land classification for this street is Residential Class IV Type - I.

How the guideline value of Nageshwariamman Nagar has changed

The guideline value for Nageshwariamman Nagar has undergone several revisions over the years. The 2012 revision set the value at Rs 1,500 per sq.ft, which then decreased to Rs 1,005 per sq.ft in the 2017 revision. However, the most recent revision in 2024 has increased the guideline value to Rs 1,650 per sq.ft, marking a significant increase of 64% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has risen by 10%.

There are no figures available for the years 2002, 2003, 2007, and 2023 in the register for this street. The changes reflect a notable fluctuation in the guideline values, particularly between the 2012 and 2017 revisions, where there was a decrease of 33%.

Guideline values in Pallikaranai

Pallikaranai has a total of 749 streets under the Chennai South Joint I SRO, with the 2024 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 equal to the guideline value of Nageshwariamman Nagar.

• Nagathamman Koil Street: Rs 1,650 per sq.ft (2024)
• Nakeerar Street: Rs 2,200 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)

Stamp duty and registration fee for property in Nageshwariamman Nagar

For a 1,000 sq.ft plot at the current rate of Rs 1,650 per sq.ft, the guideline value amounts to 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, totaling Rs 1,48,500. It is important to note that 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 Nageshwariamman Nagar?

The Nageshwariamman Nagar area is covered by 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 further assistance.

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

The guideline value is a crucial factor during the registration process when buying or selling property in Pallikaranai. It serves as a benchmark for determining the stamp duty and registration fees applicable to the transaction.

When a property is registered, the guideline value is compared to the sale price, and the duty is charged on the higher of the two. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nageshwariamman Nagar?

The current guideline value of Nageshwariamman Nagar 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 changed from Rs 1,500 per sq.ft in 2012 to Rs 1,005 per sq.ft in 2017, and then increased to Rs 1,650 per sq.ft in 2024. This reflects a 64% increase from 2017 to 2024 and an overall increase of 10% from 2012 to 2024.

What is the land classification of Nageshwariamman Nagar?

Nageshwariamman Nagar is classified as Residential Class IV Type - I. This classification affects the guideline value and other regulatory aspects of the property.

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

For a property valued at Rs 16,50,000, the stamp duty would be Rs 1,15,500 and the registration fee would be Rs 33,000, totaling Rs 1,48,500. These fees are based on the guideline value or the sale price, whichever is higher.

Which Sub Registrar Office covers Nageshwariamman Nagar?

The Chennai South Joint I Sub Registrar Office covers Nageshwariamman Nagar. It is located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.