Guideline Value for Nagammai Street

Nagammai Street guideline value

The current guideline value of Nagammai Street is Rs 950 per sq.ft, effective from 1 July 2024. This street is located in Selaiyur village, under the Selaiyur SRO, classified as Residential Class IV Type - II.

How the guideline value of Nagammai Street has changed

In the 2007 revision, the guideline value was set at Rs 450 per sq.ft. This figure increased significantly to Rs 900 per sq.ft in the 2012 revision, marking a 100% increase. However, in the 2017 revision, the value dropped to Rs 603 per sq.ft, reflecting a decrease of 33%. The value then rose to Rs 900 per sq.ft in the 2023 revision, and subsequently increased to Rs 950 per sq.ft in the 2024 revision, a change of 6%.

Overall, from the 2007 revision to the 2024 revision, the guideline value has increased by 111%. The register has no figures for Nagammai Street in the years 2002 and 2003.

Guideline values in Selaiyur

Selaiyur village has a total of 478 streets under the Selaiyur SRO, with guideline values in 2024 ranging from Rs 850 to Rs 6,500 per sq.ft. The median guideline value in this area is Rs 2,200 per sq.ft, indicating that Nagammai Street's 2024 figure is below this median.

• Nagammal Street: Rs 950 per sq.ft (2024)
• Nagarajan Street: Rs 950 per sq.ft (2024)
• Nakkeeran Street: Rs 950 per sq.ft (2024)
• Muthusamy Street: Rs 1,600 per sq.ft (2024)
• Muthuramalingam Devar Street: Rs 1,800 per sq.ft (2024)
• Nalvar Street: Rs 1,400 per sq.ft (2024)

Stamp duty and registration fee for property in Nagammai Street

For a 1,000 sq.ft plot at the current guideline value of Rs 950 per sq.ft, the total guideline value would be Rs 9,50,000. The stamp duty at 7% would be Rs 66,500, and the registration fee at 2% would be Rs 19,000, making the total fees together Rs 85,500. It is important to note that duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details on fees.

Which Sub Registrar Office covers Nagammai Street?

The Sub Registrar Office covering Nagammai Street is the Selaiyur Sub Registrar Office, located at No.36, Bharathmatha Salai (opp To Railway Quarters), Ruby Mansion, East Tambaram, Selaiyur, Chennai - 600 073, in the Chengalpattu registration zone. You can find your SRO for more information.

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

The guideline value serves as a benchmark for property transactions in Selaiyur. When buying or selling property, the guideline value is used to calculate the stamp duty and registration fees, which are mandatory for the registration process.

It is essential for buyers and sellers to be aware of the guideline value, as it can impact the overall cost of the transaction. The registration office uses this value to ensure that the property is accurately assessed for taxation purposes.

Frequently asked questions

What is the current guideline value of Nagammai Street?

The current guideline value of Nagammai Street is Rs 950 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 450 per sq.ft in 2007 to Rs 950 per sq.ft in 2024, marking an overall increase of 111% over the years.

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

For a 1,000 sq.ft plot at the current guideline value, the total guideline value would be Rs 9,50,000, with stamp duty at Rs 66,500 and registration fees at Rs 19,000, totaling Rs 85,500.

Which Sub Registrar Office covers Nagammai Street?

The Selaiyur Sub Registrar Office covers Nagammai Street, located at No.36, Bharathmatha Salai, Ruby Mansion, East Tambaram, Chennai - 600 073.

What is the land classification for Nagammai Street?

Nagammai Street is classified as Residential Class IV Type - II, indicating its designation for residential use within the Selaiyur village.