Guideline Value for Nagalingam Nagar

Nagalingam Nagar guideline value

The current guideline value of Nagalingam Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024. This area is located in Thiruverkadu village under the Kunrathur SRO, classified as Residential Class I Type - I.

How the guideline value of Nagalingam Nagar has changed

In the 2012 revision, the guideline value was set at Rs 1,400 per sq.ft. This figure decreased to Rs 938 per sq.ft in the 2017 revision, marking a significant drop of 33%. However, from 2017 to 2023, the value increased by 49%, reaching Rs 1,400 per sq.ft. The latest revision in 2024 has seen a further increase of 10%, bringing the current guideline value to Rs 1,540 per sq.ft.

The register has no figures for the years 2002, 2003, and 2007 for this street. Overall, from 2012 to 2024, the guideline value has increased by 10%.

Guideline values in Thiruverkadu

In Thiruverkadu village, there are 178 streets under the Kunrathur SRO, with guideline values ranging from Rs 1,430 to Rs 3,520 per sq.ft. The median value for these streets is Rs 1,540 per sq.ft, which is equal to the current guideline value of Nagalingam Nagar.

• Nagammal Nagar: Rs 3,285 per sq.ft (2024)
• Munuswamy Nagar: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar Main Road: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 9th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 8th Cross Street: Rs 1,540 per sq.ft (2024)
• Mahalakshmi Nagar 7th Cross Street: Rs 1,540 per sq.ft (2024)

Stamp duty and registration fee for property in Nagalingam Nagar

For a 1,000 sq.ft plot at the current guideline value of Rs 1,540 per sq.ft, the guideline value amounts to Rs 15,40,000. The stamp duty at 7% would be Rs 1,07,800, and the registration fee at 2% would be Rs 30,800, together totaling Rs 1,38,600. 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 Nagalingam Nagar?

The Sub Registrar Office covering Nagalingam Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for more information.

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

The guideline value is used as a benchmark for property transactions in Thiruverkadu. When a property is registered, the guideline value helps determine the applicable stamp duty and registration fees, ensuring that these costs are based on a standardized assessment of property value.

It is essential for buyers and sellers to be aware of the guideline value, as it can influence the overall cost of property transactions. Understanding the guideline value helps in planning and budgeting for the expenses involved in buying or selling property in the area.

Frequently asked questions

What is the current guideline value of Nagalingam Nagar?

The current guideline value of Nagalingam Nagar is Rs 1,540 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,400 per sq.ft in 2012 to Rs 938 per sq.ft in 2017, then increased to Rs 1,400 per sq.ft in 2023, and finally to Rs 1,540 per sq.ft in 2024.

What are the other streets in Thiruverkadu with their guideline values?

Other streets in Thiruverkadu include Nagammal Nagar at Rs 3,285 per sq.ft, Munuswamy Nagar, Mahalaxmi Nagar Main Road, Mahalaxmi Nagar 9th Cross Street, Mahalaxmi Nagar 8th Cross Street, and Mahalaxmi Nagar 7th Cross Street, all at Rs 1,540 per sq.ft.

What is the registration fee for property in Nagalingam Nagar?

The registration fee is 2% of the guideline value. For a property valued at Rs 15,40,000, the registration fee would be Rs 30,800.

Where is the Sub Registrar Office for Nagalingam Nagar located?

The Kunrathur Sub Registrar Office is located at No.59, Road Street, Kundrathur, Chennai -600 069, covering Nagalingam Nagar.