Guideline Value for NAMBI STREET

Nambi Street guideline value

The current guideline value of Nambi Street in Perumalagaram village is Rs 3,190 per sq.ft, as per the 2024 revision effective from 1 July 2024. This street falls under the Chennai South Joint II SRO and is classified as Residential Class V Type - I.

How the guideline value of Nambi Street has changed

The guideline value for Nambi Street has seen several revisions over the years. The 2012 revision set the value at Rs 2,900 per sq.ft, which was then reduced to Rs 1,943 per sq.ft in the 2017 revision. Following this, the value increased significantly to Rs 2,900 per sq.ft in the 2023 revision, and most recently to Rs 3,190 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

From the 2017 revision to the 2023 revision, there was a notable increase of 49%. Overall, when considering the period from 2012 to 2024, the guideline value has increased by 10%. The register has no figures for the years 2002, 2003, and 2007 for this street.

Guideline values in Perumalagaram

In Perumalagaram, there are 74 streets under the Chennai South Joint II SRO that carry a 2024 guideline value, ranging from Rs 825 to Rs 7,920 per sq.ft. The median guideline value is Rs 3,190 per sq.ft, which is equal to the current figure for Nambi Street.

• Nandakumar Street: Rs 3,190 per sq.ft (2024)
• Mohan Street: Rs 3,190 per sq.ft (2024)
• Padma Street: Rs 3,190 per sq.ft (2024)
• Pappaiah Street: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Street: Rs 3,190 per sq.ft (2024)
• Mahalakshmi Nagar Extension VI: Rs 3,190 per sq.ft (2024)

Stamp duty and registration fee for property in Nambi Street

For a 1,000 sq.ft plot at the current guideline value of Rs 3,190 per sq.ft, the total guideline value amounts to Rs 31,90,000. The stamp duty at 7% would be Rs 2,23,300, and the registration fee at 2% would be Rs 63,800, bringing the total to Rs 2,87,100. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nambi Street?

Nambi Street is covered by the Chennai South Joint II Sub Registrar Office, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035. You can find your SRO for more information.

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

The guideline value is a crucial factor during the registration of property transactions in Perumalagaram. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid, ensuring that both buyers and sellers adhere to the legal requirements set by the registration department.

When a property is bought or sold, the guideline value helps in establishing the minimum value for taxation purposes. This ensures transparency and fairness in property transactions, allowing for a standardized approach across the region.

Frequently asked questions

What is the current guideline value of Nambi Street?

The current guideline value of Nambi Street is Rs 3,190 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 2,900 per sq.ft in 2012 to Rs 1,943 per sq.ft in 2017, then to Rs 2,900 per sq.ft in 2023, and finally to Rs 3,190 per sq.ft in 2024.

What are the stamp duty and registration fees for properties on Nambi Street?

For a property of 1,000 sq.ft at the current guideline value, the total guideline value would be Rs 31,90,000, with stamp duty at Rs 2,23,300 and registration fees at Rs 63,800, totaling Rs 2,87,100.

Which Sub Registrar Office handles registrations for Nambi Street?

The Chennai South Joint II Sub Registrar Office handles registrations for Nambi Street, located at Integrated Building For Offices Of The Commercial Taxes And Registrations Department, Fanepet Nandanam, Chennai - 600 035.

What is the land classification for Nambi Street?

Nambi Street is classified as Residential Class V Type - I according to the guideline value register.