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 Sattamangalam 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 for Nammalwar Street has seen several revisions. The most recent revision in 2024 set the value at Rs 1,320 per sq.ft, an increase from Rs 1,200 per sq.ft in 2023, which represents a 10% rise. Prior to that, in 2017, the value was Rs 804 per sq.ft, indicating a significant increase of 49% over the six years leading up to 2023. The 2012 revision also recorded a value of Rs 1,200 per sq.ft, which was a decrease of 33% from the 2017 figure.

It is important to note that there are no figures available for the revisions in the years 2002, 2003, and 2007. Overall, from 2012 to 2024, the guideline value has increased by 10%, reflecting the changes in the area.

Guideline values in Sattamangalam

In Sattamangalam, there are 425 streets under the Chengleput Joint II SRO that have a 2024 guideline value ranging from Rs 440 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 guideline value of Rs 1,320 per sq.ft, the total guideline value would be Rs 13,20,000. The stamp duty at 7% would amount to Rs 92,400, while the registration fee at 2% would be Rs 26,400, making the total charges Rs 1,18,800. It is essential to note that the duty is charged on the higher of the guideline value and the sale price.

You can also use the stamp duty and registration fee calculator for more information.

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

The Chengleput Joint II Sub Registrar Office covers Nammalwar Street (Ward -5). The office is located at 10, Kancheepuram Main Road, Chengalpattu 603 002, in the Chengalpattu registration zone. You can find your SRO for additional assistance.

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

The guideline value is a crucial factor during the registration of property transactions in Sattamangalam. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives the appropriate stamp duty and registration fees based on this value.

When buying or selling property, it is essential to be aware of the guideline value, as it directly impacts the financial obligations associated with the transaction. Buyers should ensure that they are informed about the current guideline value to avoid any discrepancies during the registration process.

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 2023 to Rs 1,320 per sq.ft in 2024, a 10% increase. It was Rs 804 per sq.ft in 2017, showing a 49% increase from then to 2023.

What is the land classification for Nammalwar Street?

Nammalwar Street is classified as Residential Special Type - V, indicating its suitability for residential development.

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

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

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, a 1,000 sq.ft plot at the current guideline value of Rs 1,320 per sq.ft would incur a stamp duty of Rs 92,400.