Guideline Value for NAINAR MOHAMED STREET (WARD -7)

Nainar Mohamed Street (Ward -7) guideline value

The current guideline value of Nainar Mohamed Street (Ward -7) is Rs 1,320 per sq.ft. 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 - V.

How the guideline value of Nainar Mohamed Street (Ward -7) has changed

The guideline value for Nainar Mohamed Street has undergone several revisions over the years. In the 2012 revision, the guideline value was Rs 1,200 per sq.ft. This value decreased to Rs 804 per sq.ft in the 2017 revision, marking a decline of 33%. However, the value saw a significant increase to Rs 1,200 per sq.ft in the 2023 revision, followed by another increase to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% rise from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Nainar Mohamed Street. Overall, from the 2012 revision to the 2024 revision, the guideline value has increased by 10%.

Guideline values in Sattamangalam

In Sattamangalam village, there are 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 guideline value in this area is Rs 1,100 per sq.ft, positioning Nainar Mohamed Street's 2024 figure above that median.

• Nagavalliamman Koil Street(Ward -8): Rs 1,980 per sq.ft (2024)
• Nakkeeran Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Nagavalliamman Koil Street (Ward -2): Rs 1,320 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 Nainar Mohamed Street (Ward -7)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Together, the total fees would be Rs 1,18,800. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use our stamp duty and registration fee calculator for more detailed calculations.

Which Sub Registrar Office covers Nainar Mohamed Street (Ward -7)?

The Sub Registrar Office that covers Nainar Mohamed Street (Ward -7) 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 Sattamangalam

The guideline value plays a crucial role in the registration process when buying or selling property in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the transaction is documented at a fair value.

When a property is sold, the buyer 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 appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nainar Mohamed Street (Ward -7)?

The current guideline value of Nainar Mohamed Street (Ward -7) is Rs 1,320 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 2012 to Rs 804 per sq.ft in 2017, then back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification of Nainar Mohamed Street?

Nainar Mohamed Street is classified as Residential Special Type - V, which indicates its suitability for residential development.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Tamil Nadu.

How are stamp duty and registration fees calculated?

Stamp duty is calculated at 7% of the guideline value or sale price, whichever is higher, while the registration fee is charged at 2%. For example, for a plot of 1,000 sq.ft at the current guideline value, the total fees would amount to Rs 1,18,800.