Guideline Value for Nagammai Nagar

Nagammai Nagar guideline value

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

How the guideline value of Nagammai Nagar has changed

The guideline value for Nagammai Nagar has seen several revisions over the years. The earliest recorded figure is from 2007, where the value was Rs 200 per sq.ft. This increased significantly to Rs 500 per sq.ft in 2012, before dropping to Rs 335 per sq.ft in 2017. Following this, the value rose sharply to Rs 500 per sq.ft in 2023, and then to Rs 550 per sq.ft in 2024, marking a 10% increase from the previous year.

In terms of percentage changes, the value increased by 150% from 2007 to 2012, decreased by 33% from 2012 to 2017, and then rose by 49% from 2017 to 2023. Overall, from 2007 to 2024, the guideline value has increased by 175%. The register has no figure for Nagammai Nagar for the years 2002 and 2003.

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 value is Rs 550 per sq.ft, which is equal to the current guideline value of Nagammai Nagar.

• Nagammai Nagar part II: 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

For a 1,000 sq.ft plot at the current guideline value of Rs 550 per sq.ft, the total guideline value amounts to 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, totaling Rs 49,500. It is important to note that the duty is charged on the higher of the guideline value or the sale price. For more information, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagammai Nagar?

The Sub Registrar Office that covers Nagammai Nagar is the Kunrathur Sub Registrar Office, located at No.59, Road Street, Kundrathur, Chennai -600 069. You can find your SRO for further assistance.

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

When buying or selling property in Sirukalathur, the guideline value is a critical factor in determining the registration fees and stamp duty payable. It serves as a benchmark for the minimum value at which properties can be registered, ensuring that the government receives the appropriate taxes on property transactions.

During the registration process, the guideline value is compared with the sale price of the property. The duty is charged based on the higher of the two values, ensuring that the registration reflects the true market value of the property being transferred.

Frequently asked questions

What is the current guideline value of Nagammai Nagar?

The current guideline value of Nagammai Nagar 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 200 per sq.ft in 2007 to Rs 550 per sq.ft in 2024, showing an overall increase of 175% over the years.

What are the stamp duty rates for properties in Nagammai Nagar?

The stamp duty for properties in Nagammai Nagar is charged at 7% of the guideline value or sale price, whichever is higher.

Where is the Kunrathur Sub Registrar Office located?

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

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 guideline value for Nagammai Nagar.