Guideline Value for NAGESWARA RAO ROAD

Nageswara Rao Road guideline value

The current guideline value of Nageswara Rao Road is Rs 17,600 per sq.ft, effective from 1 July 2024. This road is located in Tnagar village, under the Thiyagaraya nagar SRO, and is classified as Commercial Special Type - III.

How the guideline value of Nageswara Rao Road has changed

The guideline value for Nageswara Rao Road has seen significant changes over the years. In the 2002 revision, the value was Rs 2,652 per sq.ft. This increased to Rs 2,944 per sq.ft in 2003, marking an increase of 11%. The value continued to rise, reaching Rs 5,656 per sq.ft in 2007, which was a substantial increase of 92%. The 2012 revision saw a decrease to Rs 16,000 per sq.ft, a drop of 33% from the previous figure. However, the value rebounded to Rs 10,720 per sq.ft in 2017, reflecting a 49% increase. In the 2023 revision, the guideline value was set at Rs 16,000 per sq.ft, and it rose to the current figure of Rs 17,600 per sq.ft in 2024, an increase of 10%.

There are no figures available for the revisions in the years not listed. The overall change from 2002 to 2024 shows a significant increase of 564% in the guideline value.

Guideline values in Tnagar

In Tnagar, there are 262 streets under the Thiyagaraya nagar SRO, with 2024 guideline values ranging from Rs 4,400 to Rs 27,500 per sq.ft. The median value for these streets is Rs 11,000 per sq.ft, placing Nageswara Rao Road's 2024 figure above this median.

• Nana Street: Rs 13,200 per sq.ft (2024)
• Muthurangan Salai: Rs 13,200 per sq.ft (2024)
• Nandhi Loop Street: Rs 5,500 per sq.ft (2024)
• Muthukrishnan Street: Rs 11,000 per sq.ft (2024)
• Natesan Street: Rs 13,200 per sq.ft (2024)
• Nathamuni Street: Rs 11,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nageswara Rao Road

For a 1,000 sq.ft plot at the current guideline value of Rs 17,600 per sq.ft, the total guideline value amounts to Rs 1,76,00,000. The stamp duty at 7% would be Rs 12,32,000, and the registration fee at 2% would be Rs 3,52,000, bringing the total charges to Rs 15,84,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

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

Which Sub Registrar Office covers Nageswara Rao Road?

Nageswara Rao Road is covered by the Thiyagaraya nagar Sub Registrar Office, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35. You can find your SRO for more details.

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

The guideline value is a critical factor during the registration of property transactions in Tnagar. It determines the minimum value at which a property can be registered, ensuring that the government receives appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it affects the overall cost of the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nageswara Rao Road?

The current guideline value of Nageswara Rao Road is Rs 17,600 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased from Rs 2,652 per sq.ft in 2002 to Rs 17,600 per sq.ft in 2024, showing an overall increase of 564%.

What is the land classification of Nageswara Rao Road?

Nageswara Rao Road is classified as Commercial Special Type - III.

Where can I find the Sub Registrar Office for Nageswara Rao Road?

The Thiyagaraya nagar Sub Registrar Office covers Nageswara Rao Road, located at 27/14, Vetnari Hospital Road, Panpet Nandhanam, Chennai-35.

How is stamp duty calculated for properties on Nageswara Rao Road?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at the current guideline value incurs a stamp duty of Rs 12,32,000.