Guideline Value for NAMBI NAGAR 2ND CROSS STREET

Nambi Nagar 2nd Cross Street guideline value

The current guideline value of Nambi Nagar 2nd 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 2nd Cross Street has changed

The guideline value for Nambi Nagar 2nd Cross Street has seen several revisions over the years. The earliest recorded revision was in 2012, where the value was Rs 2,000 per sq.ft. This value remained until the next revision in 2017, which saw a decrease to Rs 1,340 per sq.ft, marking a decline of 33%. The value then increased significantly to Rs 2,000 per sq.ft in 2023, followed by the current value of Rs 2,200 per sq.ft in 2024, reflecting a 10% increase from the previous year.

From 2017 to 2023, the guideline value increased by 49%. Overall, from 2012 to 2024, the guideline value has increased by 10%. The register does not contain figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Poonthamallee

In Poonthamallee, there are 257 streets under the Poonamallee SRO that carry a 2024 guideline value, ranging from Rs 1,980 to Rs 4,950 per sq.ft. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the guideline value for Nambi Nagar 2nd Cross Street.

• Nambi Nagar 1st 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 2nd 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 amounts to Rs 22,00,000. The stamp duty at 7% would be Rs 1,54,000, while the registration fee at 2% would be Rs 44,000, bringing the total 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.

You can use the stamp duty and registration fee calculator for more specific calculations.

Which Sub Registrar Office covers Nambi Nagar 2nd Cross Street?

The Sub Registrar Office that covers Nambi Nagar 2nd Cross Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056. For more information, you can find your SRO.

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

The guideline value is a critical factor in the registration process when buying or selling property in Poonthamallee. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the transaction.

When purchasing property, buyers should be aware that the guideline value is used to calculate the applicable duties, which are based on the higher of the guideline value or the sale price. Therefore, understanding the guideline value is essential for accurate financial planning in real estate transactions.

Frequently asked questions

What is the current guideline value of Nambi Nagar 2nd Cross Street?

The current guideline value of Nambi Nagar 2nd 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 back to Rs 2,000 per sq.ft in 2023 and currently stands at Rs 2,200 per sq.ft in 2024.

What is the land classification for Nambi Nagar 2nd Cross Street?

Nambi Nagar 2nd Cross Street is classified as Residential Class II Type - I.

Where can I find the Poonamallee Sub Registrar Office?

The Poonamallee Sub Registrar Office is located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Nambi Nagar 2nd Cross Street?

Stamp duty is calculated based on the higher of the guideline value or the sale price. For example, for a plot valued at Rs 22,00,000, the stamp duty at 7% would be Rs 1,54,000.