Guideline Value for Nagammai Nagar part II

Nagammai Nagar part II guideline value

The current guideline value of Nagammai Nagar part II is Rs 550 per sq.ft, effective from 1 July 2024. This area is located in Sirukalathur village, under the Kunrathur SRO, and is classified as Residential Class I Type - I.

How the guideline value of Nagammai Nagar part II has changed

The guideline value for Nagammai Nagar part II has seen several revisions over the years. In 2012, the value was Rs 500 per sq.ft, which then decreased to Rs 335 per sq.ft in 2017. Following that, there was a significant increase to Rs 500 per sq.ft in 2023, and the current value stands at Rs 550 per sq.ft from the 2024 revision. The register has no figure for this street in 2002, 2003, and 2007.

From 2012 to 2017, there was a decrease of 33%, while the value increased by 49% from 2017 to 2023. The overall change from 2012 to 2024 reflects a modest increase of 10%.

Guideline values in Sirukalathur

In Sirukalathur, there are 32 streets under the Kunrathur SRO that carry a 2024 guideline value, ranging from Rs 450 to Rs 2,970 per sq.ft. The median guideline value is Rs 550 per sq.ft, which aligns with the current value of Nagammai Nagar part II.

• Nagammai Nagar: Rs 550 per sq.ft (2024)
• Madha Nagar: Rs 450 per sq.ft (2024)
• Kundrathur to Sriperumbuthur Road: Rs 2,900 per sq.ft (2024)
• K.N.Nagar: Rs 1,000 per sq.ft (2024)
• Karuneegar street: Rs 550 per sq.ft (2024)
• Sammandham Nagar: Rs 1,000 per sq.ft (2024)

Stamp duty and registration fee for property in Nagammai Nagar part II

For a 1,000 sq.ft plot at the current guideline value of Rs 5,50,000, the stamp duty at 7% would be Rs 38,500, and the registration fee at 2% would be Rs 11,000. Together, the total cost for these fees would be Rs 49,500. 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 Nagammai Nagar part II?

The Sub Registrar Office that covers Nagammai Nagar part II 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 Sirukalathur

The guideline value is a crucial factor when buying or selling property, as it determines the stamp duty and registration fees applicable during the transaction. Buyers and sellers should be aware that the guideline value may affect the overall cost of property transactions.

When registering a property, the stamp duty is calculated based on the higher of the guideline value or the sale price. This ensures that the government receives the appropriate revenue from property transactions in the area.

Frequently asked questions

What is the current guideline value of Nagammai Nagar part II?

The current guideline value of Nagammai Nagar part II is Rs 550 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 2012 to Rs 335 per sq.ft in 2017, then increased to Rs 500 per sq.ft in 2023, and is now Rs 550 per sq.ft in 2024.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 5,50,000, the stamp duty would be Rs 38,500 and the registration fee would be Rs 11,000, totaling Rs 49,500.

Which Sub Registrar Office is responsible for Nagammai Nagar part II?

The Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069, is responsible for Nagammai Nagar part II.

What is the median guideline value in Sirukalathur?

The median guideline value in Sirukalathur is Rs 550 per sq.ft, which is the same as the current value for Nagammai Nagar part II.