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 Peramanoor village and falls under the Chengleput Joint II SRO. The land classification for this area is Residential Special Type - V.

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

Over the years, the guideline value of Nammalwar Street has seen several revisions. The earliest recorded figure is from 2012, which was Rs 1,200 per sq.ft. This was followed by a decrease to Rs 804 per sq.ft in 2017, marking a decline of 33%. In 2023, the value increased to Rs 1,200 per sq.ft, and further rose to Rs 1,320 per sq.ft in the 2024 revision, reflecting a 10% increase from the previous year.

There are no figures available for the revisions in 2002, 2003, and 2007 for Nammalwar Street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 10%.

Guideline values in Peramanoor

In Peramanoor, there are 430 streets under the Chengleput Joint II SRO, with guideline values ranging from Rs 550 to Rs 2,200 per sq.ft. The median value for these streets is Rs 1,100 per sq.ft, placing Nammalwar Street's 2024 figure above this median.

• 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 rate of Rs 1,320 per sq.ft, the guideline value amounts to Rs 13,20,000. The stamp duty at 7% would be Rs 92,400, and the registration fee at 2% would be Rs 26,400, totaling 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.

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

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

Nammalwar Street (Ward -5) is covered by the Chengleput Joint II Sub Registrar Office, located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value plays a crucial role in property transactions within Peramanoor. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value when negotiating the sale price, as the registration office will use it to calculate applicable duties and fees.

When a property is sold, the guideline value ensures that the transaction is recorded at a fair rate, preventing undervaluation. This process helps maintain transparency in property dealings and ensures that the government receives appropriate revenue from stamp duties and registration fees.

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 back to Rs 1,200 per sq.ft in 2023, and finally to Rs 1,320 per sq.ft in 2024.

What is the land classification for Nammalwar Street (Ward -5)?

The land classification for Nammalwar Street (Ward -5) is Residential Special Type - V.

Where can I find the Chengleput Joint II Sub Registrar Office?

The Chengleput Joint II Sub Registrar Office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone.

How is the stamp duty calculated for property in Nammalwar Street (Ward -5)?

Stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 1,320 per sq.ft has a guideline value of Rs 13,20,000, resulting in a stamp duty of Rs 92,400.