Guideline Value for Nagaluthu Street

Nagaluthu Street guideline value

The current guideline value of Nagaluthu Street is Rs 1,100 per sq.ft, effective from 1 July 2024. This street is located in the 2nd Division village under the Kanchipuram Joint IV SRO, classified as Residential Class II Type - II.

How the guideline value of Nagaluthu Street has changed

The guideline value for Nagaluthu Street has seen several revisions over the years. The 2007 revision set the value at Rs 500 per sq.ft, which increased significantly to Rs 1,000 per sq.ft in the 2012 revision. However, there was a decrease to Rs 670 per sq.ft in the 2017 revision. The 2023 revision raised it to Rs 1,000 per sq.ft, and the current 2024 revision has increased it further to Rs 1,100 per sq.ft. The register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, the guideline value increased by 49%, and from 2012 to 2017, it decreased by 33%. There was a substantial increase of 100% from 2007 to 2012. Overall, from 2007 to 2024, the guideline value has increased by 120%.

Guideline values in 2nd Division

In the 2nd Division village, there are 101 streets under the Kanchipuram Joint IV SRO that carry a 2024 guideline value ranging from Rs 800 to Rs 11,000 per sq.ft, with a median value of Rs 1,650 per sq.ft. Nagaluthu Street's 2024 guideline value is below this median.

• Nagaluthu Medu Arasamara Street: Rs 1,100 per sq.ft (2024)
• Narayanapalayam Street: Rs 1,100 per sq.ft (2024)
• Munusamy Mudaliar Avenue Backside: Rs 3,300 per sq.ft (2024)
• Munusamy Mudaliar Avenue: Rs 4,400 per sq.ft (2024)
• Mullapalayam Street: Rs 1,100 per sq.ft (2024)
• Nellukara Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Nagaluthu Street

For a 1,000 sq.ft plot at the current rate of Rs 1,100 per sq.ft, the guideline value amounts to Rs 11,00,000. The stamp duty at 7% would be Rs 77,000, and the registration fee at 2% would be Rs 22,000, totaling Rs 99,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price. You can use our stamp duty and registration fee calculator for more information.

Which Sub Registrar Office covers Nagaluthu Street?

The Sub Registrar Office that covers Nagaluthu Street is the Kanchipuram Joint IV Sub Registrar Office, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone. You can find your SRO for more details.

How the guideline value is used when you buy or sell in 2nd Division

The guideline value is a crucial factor when registering property in the 2nd Division. It serves as a benchmark for determining the stamp duty and registration fees payable during the transaction. Buyers and sellers must be aware of the guideline value to ensure compliance with the registration requirements.

When a property is sold, the guideline value is used to calculate the applicable fees, which can significantly impact the overall cost of the transaction. It is essential for both parties to understand the guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nagaluthu Street?

The current guideline value of Nagaluthu Street is Rs 1,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 500 per sq.ft in 2007 to Rs 1,100 per sq.ft in 2024, marking an overall increase of 120% across the revisions.

What are the stamp duty and registration fees for property in Nagaluthu Street?

For a 1,000 sq.ft plot, the total guideline value is Rs 11,00,000, with a stamp duty of Rs 77,000 and a registration fee of Rs 22,000, totaling Rs 99,000.

Which Sub Registrar Office covers Nagaluthu Street?

The Kanchipuram Joint IV Sub Registrar Office covers Nagaluthu Street, located at Kamarajar Road, Taluk Office Campus, Kanchipuram-631 501, Chengalpattu registration zone.

What is the land classification for Nagaluthu Street?

Nagaluthu Street is classified as Residential Class II Type - II under the Kanchipuram Joint IV SRO.