Guideline Value for Naganathan Street

Naganathan Street guideline value

The current guideline value of Naganathan Street in Oragadam village, under the Ambattur SRO, is Rs 2,400 per sq.ft, effective from 1 July 2024. This street falls under the Residential Special Type - I land classification.

How the guideline value of Naganathan Street has changed

Over the years, the guideline value of Naganathan Street has seen significant changes. The 2007 revision set the value at Rs 600 per sq.ft, which increased dramatically to Rs 2,200 per sq.ft in 2012, marking a rise of 267%. However, from 2012 to 2017, the value decreased to Rs 1,474 per sq.ft, a drop of 33%. The subsequent revision in 2023 raised the value to Rs 2,200 per sq.ft, and the latest revision in 2024 has further increased it to Rs 2,400 per sq.ft, reflecting a growth of 9% from the previous year.

It is important to note that there are no figures available for Naganathan Street in the 2002 and 2003 revisions. Overall, from 2007 to 2024, the guideline value has increased by 300%.

Guideline values in Oragadam

In Oragadam, there are 596 streets under the Ambattur SRO that carry a 2024 guideline value, ranging from Rs 1,100 to Rs 3,500 per sq.ft. The median guideline value for these streets is Rs 2,200 per sq.ft, placing Naganathan Street's 2024 figure above this median.

• Nagammai Street (V.L.Puram): Rs 2,400 per sq.ft (2024)
• Nagathamman Koil Street (A.K.A): Rs 1,400 per sq.ft (2024)
• Nagathamman Street A.K.A.Nagar: Rs 1,400 per sq.ft (2024)
• Nainiammal Street: Rs 1,600 per sq.ft (2024)
• Muthuvalli Street (Ram Nagar): Rs 2,400 per sq.ft (2024)
• Muthuraman Street (Ram Nagar): Rs 2,400 per sq.ft (2024)

Stamp duty and registration fee for property in Naganathan Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,400 per sq.ft, the total guideline value would be Rs 24,00,000. The stamp duty at 7% would amount to Rs 1,68,000, and the registration fee at 2% would be Rs 48,000, bringing the total to Rs 2,16,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Naganathan Street?

Naganathan Street falls under the jurisdiction of 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 information.

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

The guideline value is a crucial factor when registering property transactions in Oragadam. It serves as a benchmark for determining the stamp duty and registration fees that need to be paid during the sale or purchase of property.

When a property is sold, the buyer and seller must ensure that the sale price meets or exceeds the guideline value to avoid any discrepancies during registration. This helps in maintaining transparency and compliance with local regulations.

Frequently asked questions

What is the current guideline value of Naganathan Street?

The current guideline value of Naganathan Street is Rs 2,400 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, increasing from Rs 600 per sq.ft in 2007 to Rs 2,400 per sq.ft in 2024, an overall increase of 300%.

What is the land classification for Naganathan Street?

Naganathan Street is classified as Residential Special Type - I, which defines the type of development permissible in the area.

Where can I find the Sub Registrar Office for Naganathan Street?

The Ambattur Sub Registrar Office, which covers Naganathan Street, is 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 Naganathan Street?

Stamp duty is calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 24,00,000, the stamp duty would be Rs 1,68,000 at a rate of 7%.