Guideline Value for NAMBI NAGAR FIRST STREET

Nambi Nagar First Street guideline value

The current guideline value of Nambi Nagar First Street is Rs 2,200 per sq.ft. 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 First Street has changed

The guideline value for Nambi Nagar First Street has undergone several revisions over the years. The 2012 revision set the value at Rs 2,000 per sq.ft, which was then reduced to Rs 1,340 per sq.ft in the 2017 revision. Following this, the 2023 revision increased the value to Rs 2,000 per sq.ft, and the most recent 2024 revision has set it at Rs 2,200 per sq.ft. There are no figures available for the years 2002, 2003, and 2007 in the register for this street.

Between the revisions, the changes were as follows: from 2012 to 2017, there was a decrease of 33%; from 2017 to 2023, there was an increase of 49%; and from 2023 to 2024, the guideline value increased by 10%. Overall, from 2012 to 2024, the guideline value has increased by 10%.

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. The median value for these streets is Rs 2,200 per sq.ft, which is the same as the 2024 guideline value for Nambi Nagar First Street.

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

Stamp duty and registration fee for property in Nambi Nagar First 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, charged at 7%, would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, making the total charges 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nambi Nagar First Street?

The Sub Registrar Office that covers Nambi Nagar First 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 is a crucial 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.

Frequently asked questions

What is the current guideline value of Nambi Nagar First Street?

The current guideline value of Nambi Nagar First Street is Rs 2,200 per sq.ft as per the 2024 revision.

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 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 First Street?

Nambi Nagar First Street is classified as Residential Class II Type - I.

What is the registration office for Nambi Nagar First Street?

The registration office for Nambi Nagar First Street is the Poonamallee Sub Registrar Office, located at No.332 U + 9cc Malma Nagar Poonamallee Chennai - 600056.

How is stamp duty calculated for properties in Nambi Nagar First Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. Additionally, a registration fee of 2% is applied to the guideline value.