Guideline Value for Nagammai Nagar 2nd Street

Nagammai Nagar 2nd Street guideline value

The current guideline value of Nagammai Nagar 2nd Street is Rs 1,500 per sq.ft, effective from 1 July 2024. This street is located in Thirumullaivoyal village, under the Ambattur SRO, and is classified as Residential Class III Type - II.

How the guideline value of Nagammai Nagar 2nd Street has changed

The guideline value for Nagammai Nagar 2nd Street has undergone several revisions over the years. The earliest recorded figure is from 2012, set at Rs 1,400 per sq.ft. This was followed by a decrease to Rs 938 per sq.ft in 2017, which marked a decline of 33%. The value then increased significantly to Rs 1,400 per sq.ft in 2023, reflecting a 49% rise. The most recent revision in 2024 has established the value at Rs 1,500 per sq.ft, indicating a 7% increase from the previous year.

There are no recorded figures for the years 2002, 2003, and 2007 in the register for this street. Overall, from 2012 to 2024, the guideline value has seen a modest increase of 7%.

Guideline values in Thirumullaivoyal

In Thirumullaivoyal, there are 975 streets under the Ambattur SRO, with guideline values ranging from Rs 880 to Rs 5,500 per sq.ft. The median guideline value in this area is Rs 2,400 per sq.ft, which means that the 2024 figure for Nagammai Nagar 2nd Street is below the median.

• Nagammai Nagar 1st Street: Rs 1,500 per sq.ft (2024)
• Nagammai Nagar 3rd Street: Rs 1,500 per sq.ft (2024)
• Nagammai Nagar 4th Street: Rs 1,500 per sq.ft (2024)
• Nagammai Nagar 5th Street: Rs 1,500 per sq.ft (2024)
• Nagammai Nagar 6th Street: Rs 1,500 per sq.ft (2024)
• Nagammai Nagar 7th Street: Rs 1,500 per sq.ft (2024)

Stamp duty and registration fee for property in Nagammai Nagar 2nd Street

For a 1,000 sq.ft plot at the current guideline value of Rs 1,500 per sq.ft, the total guideline value amounts to Rs 15,00,000. The stamp duty at 7% would be Rs 1,05,000, and the registration fee at 2% would be Rs 30,000, bringing the total to Rs 1,35,000. It is important to note that the duty is charged on the guideline value or the sale price, whichever is higher. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagammai Nagar 2nd Street?

The Sub Registrar Office that covers Nagammai Nagar 2nd Street is the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more details.

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

The guideline value is a crucial factor during the registration of property transactions in Thirumullaivoyal. It serves as the basis for calculating the stamp duty and registration fees, ensuring that the government receives the appropriate revenue from property sales.

When buying or selling property, the guideline value helps determine the minimum price at which a property can be registered. Buyers should be aware that the stamp duty is charged on the higher of the guideline value or the sale price, which can impact the overall cost of the transaction.

Frequently asked questions

What is the current guideline value of Nagammai Nagar 2nd Street?

The current guideline value of Nagammai Nagar 2nd Street is Rs 1,500 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 1,500 per sq.ft in 2024.

What is the land classification of Nagammai Nagar 2nd Street?

Nagammai Nagar 2nd Street is classified as Residential Class III Type - II.

Which Sub Registrar Office covers Nagammai Nagar 2nd Street?

The Ambattur Sub Registrar Office covers Nagammai Nagar 2nd Street, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.

How is the stamp duty calculated for properties in Nagammai Nagar 2nd Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a 1,000 sq.ft plot at Rs 1,500 per sq.ft, the total guideline value is Rs 15,00,000, leading to a stamp duty of Rs 1,05,000.