Guideline Value for NAMBI NAGAR 1ST CROSS STREET

Nambi Nagar 1st Cross Street guideline value

The current guideline value of Nambi Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Poonthamallee village, under the Poonamallee SRO, and is classified as Residential Class II Type - I.

How the guideline value of Nambi Nagar 1st Cross Street has changed

The guideline value for Nambi Nagar 1st Cross Street has seen several revisions over the years. The earliest recorded figure is from 2012, where the value was Rs 2,000 per sq.ft. This was followed by a decrease to Rs 1,340 per sq.ft in 2017. The 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent revision in 2024 has set it at Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2012 to 2017, the guideline value decreased by 33%. However, from 2017 to 2023, there was a significant increase of 49%. Overall, from 2012 to 2024, 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 Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO, with guideline values ranging from Rs 1,980 to Rs 4,950 per sq.ft as of 2024. The median guideline value for these streets is Rs 2,200 per sq.ft, which is equal to the current value for Nambi Nagar 1st Cross Street.

• Nambi Nagar 2nd Cross Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 2nd Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 2nd Street 1st Cross Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 3rd Cross Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 3rd Street: Rs 2,200 per sq.ft (2024)
• Nambi Nagar 4th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Nambi Nagar 1st Cross Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, bringing the total cost to Rs 1,98,000. 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 our stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nambi Nagar 1st Cross Street?

The Sub Registrar Office that covers Nambi Nagar 1st Cross Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Poonthamallee. When buying or selling property, the guideline value is used to determine the stamp duty and registration fees that need to be paid. This ensures that the transaction is legally documented and that the necessary taxes are collected.

It is essential for buyers and sellers to be aware of the current guideline value, as it directly impacts the financial aspects of the property transaction. Understanding the guideline value helps in making informed decisions during the buying or selling process.

Frequently asked questions

What is the current guideline value of Nambi Nagar 1st Cross Street?

The current guideline value of Nambi Nagar 1st Cross Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,000 per sq.ft in 2012 to Rs 1,340 per sq.ft in 2017, then increased to Rs 2,000 per sq.ft in 2023, and finally to Rs 2,200 per sq.ft in 2024.

What is the land classification for Nambi Nagar 1st Cross Street?

Nambi Nagar 1st Cross Street is classified as Residential Class II Type - I.

What are the stamp duty and registration fees for property transactions?

For a property valued at Rs 22,00,000, the stamp duty would be Rs 1,54,000 and the registration fee would be Rs 44,000, totaling Rs 1,98,000. The duty is charged on the higher of the guideline value or the sale price.

Which Sub Registrar Office covers Nambi Nagar 1st Cross Street?

The Poonamallee Sub Registrar Office covers Nambi Nagar 1st Cross Street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.