Guideline Value for NAMBI NAGAR 2ND STREET

Nambi Nagar 2nd Street guideline value

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

The guideline value for Nambi Nagar 2nd Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which decreased to Rs 1,340 per sq.ft in 2017. However, in 2023, it increased to Rs 2,000 per sq.ft, and the most recent revision in 2024 raised it to Rs 2,200 per sq.ft, marking a 10% increase from the previous year.

From 2017 to 2023, there was a significant increase of 49%, while the value decreased by 33% from 2012 to 2017. Overall, from 2012 to 2024, the guideline value has increased by 10%. There are no figures available for the revisions in 2002, 2003, and 2007 for this street.

Guideline values in Poonthamallee

Poonthamallee village has a total of 257 streets under the Poonamallee SRO that carry a 2024 guideline value ranging from Rs 1,980 to Rs 4,950 per sq.ft, with a median value of Rs 2,200 per sq.ft. Nambi Nagar 2nd Street's 2024 guideline value aligns with this median.

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

For a 1,000 sq.ft plot at the current rate of Rs 2,200 per sq.ft, the guideline value amounts to Rs 22,00,000. The stamp duty at 7% is Rs 1,54,000, and the registration fee at 2% is Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nambi Nagar 2nd Street?

The Nambi Nagar 2nd Street falls under the jurisdiction of 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 property transactions in Poonthamallee. It is used to determine the stamp duty and registration fees applicable during the buying or selling of property. Buyers and sellers must consider this value to ensure compliance with local regulations.

During registration, the guideline value is assessed to calculate the total costs involved in the transaction. This ensures that both parties are aware of the financial obligations associated with the sale, making the process transparent and straightforward.

Frequently asked questions

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

The current guideline value of Nambi Nagar 2nd 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 finally to Rs 2,200 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in Nambi Nagar 2nd Street?

For a property valued at Rs 22,00,000, the stamp duty is Rs 1,54,000, and the registration fee is Rs 44,000, totaling Rs 1,98,000.

Which Sub Registrar Office covers Nambi Nagar 2nd Street?

The Poonamallee Sub Registrar Office covers Nambi Nagar 2nd Street, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

What is the land classification of Nambi Nagar 2nd Street?

Nambi Nagar 2nd Street is classified as Residential Class II Type - I, indicating its suitability for residential development.