Guideline Value for Nagammal Street (Vetri Nagar Extension)

Nagammal Street (Vetri Nagar Extension) guideline value

The current guideline value of Nagammal Street (Vetri Nagar Extension) is Rs 3,301 per sq.ft, effective from 1 July 2024. This street is located in Peravallur village and falls under the Sembiam SRO. The land classification for this area is Residential Special Type - II.

How the guideline value of Nagammal Street (Vetri Nagar Extension) has changed

Over the years, the guideline value of Nagammal Street has seen significant changes. In 2007, the guideline value was Rs 800 per sq.ft, which increased dramatically to Rs 3,000 per sq.ft in 2012, marking a rise of 275%. However, by 2017, it dropped to Rs 2,010 per sq.ft, a decrease of 33%. The value then rose again to Rs 3,000 per sq.ft in 2023, followed by the current value of Rs 3,301 per sq.ft in 2024, reflecting a 10% increase.

Between 2017 and 2023, there was a substantial increase of 49%. Overall, from 2007 to 2024, the guideline value has risen by 313%. It is important to note that there are no figures available for the years 2002 and 2003 for this street.

Guideline values in Peravallur

In Peravallur, there are 423 streets under the Sembiam SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 7,100 per sq.ft. The median value is Rs 3,301 per sq.ft, which is equal to the current guideline value of Nagammal Street (Vetri Nagar Extension).

• Narayana Reddy Street: Rs 2,400 per sq.ft (2024)
• Murthy Street (Vetri Nagar): Rs 2,700 per sq.ft (2024)
• Murthy Street (Sekar Nagar): Rs 2,700 per sq.ft (2024)
• Murthy Street Lane (Sekar Nagar): Rs 2,400 per sq.ft (2024)
• Murthy Raja Street: Rs 2,700 per sq.ft (2024)
• Meri Helan Street: Rs 2,700 per sq.ft (2024)

Stamp duty and registration fee for property in Nagammal Street (Vetri Nagar Extension)

For a 1,000 sq.ft plot at the current guideline value of Rs 3,301 per sq.ft, the total guideline value would be Rs 33,01,000. The stamp duty at 7% would amount to Rs 2,31,070, and the registration fee at 2% would be Rs 66,020. Therefore, the total cost for stamp duty and registration would be Rs 2,97,090. 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 detailed calculations.

Which Sub Registrar Office covers Nagammal Street (Vetri Nagar Extension)?

The Sub Registrar Office that covers Nagammal Street (Vetri Nagar Extension) is the Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011. You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration process of property transactions in Peravallur. It serves as a benchmark for calculating stamp duty and registration fees, which are mandatory when buying or selling property. The fees are determined based on the higher of the guideline value or the sale price of the property.

When a buyer registers a property, the guideline value ensures that the transaction is recorded at a fair value, which helps maintain transparency in real estate dealings. It is advisable for buyers and sellers to be aware of the current guideline value to avoid any discrepancies during the registration process.

Frequently asked questions

What is the current guideline value of Nagammal Street (Vetri Nagar Extension)?

The current guideline value of Nagammal Street (Vetri Nagar Extension) is Rs 3,301 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly from Rs 800 per sq.ft in 2007 to Rs 3,301 per sq.ft in 2024, marking an overall increase of 313% over this period.

What is the land classification for Nagammal Street (Vetri Nagar Extension)?

The land classification for Nagammal Street (Vetri Nagar Extension) is Residential Special Type - II.

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

For a property valued at Rs 33,01,000, the stamp duty would be Rs 2,31,070, and the registration fee would be Rs 66,020, totaling Rs 2,97,090.

Which office handles registrations for Nagammal Street (Vetri Nagar Extension)?

The Sembiam Sub Registrar Office, located at 5, Papermills Road, Sembiam, Chennai - 600011, handles registrations for Nagammal Street (Vetri Nagar Extension).