Guideline Value for NAMMALWAR STREET (WARD -5)

Nammalwar Street (Ward -5) guideline value

The current guideline value of Nammalwar Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024. This street is located in Panangottur village under the Chengleput Joint II SRO and is classified as Residential Special Type - V.

How the guideline value of Nammalwar Street (Ward -5) has changed

The guideline value for Nammalwar Street has seen several revisions over the years. The 2012 revision set the value at Rs 1,200 per sq.ft, which was then reduced to Rs 804 per sq.ft in the 2017 revision. Following this, the value increased to Rs 1,200 per sq.ft in the 2023 revision, and currently stands at Rs 1,320 per sq.ft as per the 2024 revision, reflecting a 10% increase from the previous year. Overall, from 2012 to 2024, the guideline value has increased by 10%.

It is important to note that there are no recorded figures for Nammalwar Street in the years 2002, 2003, and 2007. This lack of data indicates that the guideline value for this street was not established during those revisions.

Guideline values in Panangottur

In Panangottur, there are 419 streets under the Chengleput Joint II SRO that carry a 2024 guideline value, ranging from Rs 440 to Rs 2,200 per sq.ft. The median guideline value for these streets is Rs 990 per sq.ft, placing Nammalwar Street above this median at Rs 1,320 per sq.ft.

• Nalliagodan Street (Ward -6): Rs 1,320 per sq.ft (2024)
• Nanmullaiyar Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Nanthanar Street (Ward -7): Rs 1,760 per sq.ft (2024)
• Nakkeeran Street (Ward -4): Rs 1,760 per sq.ft (2024)
• Nainar Mohamed Street (Ward -7): Rs 1,320 per sq.ft (2024)
• Nagavalliamman Koil Street(Ward -8): Rs 1,980 per sq.ft (2024)

Stamp duty and registration fee for property in Nammalwar Street (Ward -5)

For a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty, charged at 7%, would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400. Therefore, the total cost for stamp duty and registration would be Rs 1,18,800. 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 the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nammalwar Street (Ward -5)?

The Sub Registrar Office that covers Nammalwar Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, Chengalpattu registration zone.

You can find your SRO for more information.

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

The guideline value is an essential factor in the registration process of property transactions in Panangottur. It serves as a benchmark for determining the stamp duty and registration fees that must be paid during the sale or purchase of property.

When buying or selling property, the guideline value ensures that the transaction is recorded at a fair value, preventing undervaluation and ensuring that the appropriate taxes are collected. This process helps maintain transparency and accountability in real estate transactions.

Frequently asked questions

What is the current guideline value of Nammalwar Street (Ward -5)?

The current guideline value of Nammalwar Street (Ward -5) is Rs 1,320 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,200 per sq.ft in 2012 to Rs 804 per sq.ft in 2017, then increased to Rs 1,200 per sq.ft in 2023, and is currently Rs 1,320 per sq.ft in 2024.

What is the land classification for Nammalwar Street?

Nammalwar Street is classified as Residential Special Type - V under the Chengleput Joint II SRO.

Where can I find the Sub Registrar Office for Nammalwar Street?

The Sub Registrar Office for Nammalwar Street (Ward -5) is the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002.

How is the stamp duty calculated for properties in Nammalwar Street?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 13,20,000, the stamp duty would be Rs 92,400.