Guideline Value for Nagappa Iyer Street (mayor Chittibabu Street)

Nagappa Iyer Street (mayor Chittibabu Street) guideline value

The current guideline value of Nagappa Iyer Street (mayor Chittibabu Street) is Rs 8,800 per sq.ft, effective from 1 July 2024. This street is located in Triplicane village and falls under the Triplicane SRO with a land classification of Mixed Type - I.

How the guideline value of Nagappa Iyer Street (mayor Chittibabu Street) has changed

The guideline value of Nagappa Iyer Street has undergone several revisions since 2007. In 2007, the value was Rs 1,560 per sq.ft, which increased significantly to Rs 8,000 per sq.ft in 2012, marking an increase of 413%. However, it then saw a decrease to Rs 5,360 per sq.ft in 2017, a drop of 33%. The value rose again to Rs 8,000 per sq.ft in 2023, and the most recent revision in 2024 raised it to Rs 8,800 per sq.ft, reflecting a 10% increase.

There are no figures available for the revisions in 2002 and 2003 for this street. Overall, from 2007 to 2024, the guideline value has increased by 464%.

Guideline values in Triplicane

In Triplicane, there are 415 streets under the Triplicane SRO that carry a 2024 guideline value, ranging from Rs 2,700 to Rs 20,900 per sq.ft. The median value for these streets is Rs 6,600 per sq.ft, and Nagappa Iyer Street's 2024 figure is above this median.

• Nagoji Street: Rs 6,600 per sq.ft (2024)
• Nair Iyya Pillai Street: Rs 6,600 per sq.ft (2024)
• Nair Varadha Pillai Street: Rs 6,600 per sq.ft (2024)
• Nallathambi Chetty Street Chennai-2: Rs 8,800 per sq.ft (2024)
• Nallathambi Mudali Street Chennai-5: Rs 7,700 per sq.ft (2024)
• Namachivaya Mudali Street: Rs 5,500 per sq.ft (2024)

Stamp duty and registration fee for property in Nagappa Iyer Street (mayor Chittibabu Street)

For a 1,000 sq.ft plot at the current rate of Rs 8,800 per sq.ft, the guideline value amounts to Rs 88,00,000. The stamp duty at 7% would be Rs 6,16,000, and the registration fee at 2% would be Rs 1,76,000, totaling Rs 7,92,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nagappa Iyer Street (mayor Chittibabu Street)?

The Sub Registrar Office that covers Nagappa Iyer Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014. You can find your SRO for more information.

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

The guideline value is an essential factor when registering property transactions in Triplicane. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring that the government receives appropriate revenue through stamp duty and registration fees.

When buying or selling property, the guideline value helps in calculating the stamp duty and registration fees based on the property's value. Buyers must be aware that these costs can significantly impact the overall expense of the transaction.

Frequently asked questions

What is the current guideline value of Nagappa Iyer Street?

The current guideline value of Nagappa Iyer Street (mayor Chittibabu Street) is Rs 8,800 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 1,560 per sq.ft in 2007 to Rs 8,800 per sq.ft in 2024, marking an overall increase of 464% over the years.

What is the stamp duty for property in Nagappa Iyer Street?

The stamp duty for property in Nagappa Iyer Street is 7% of the guideline value or the sale price, whichever is higher. For a property valued at Rs 88,00,000, the stamp duty would be Rs 6,16,000.

Where can I find the Sub Registrar Office for Nagappa Iyer Street?

The Sub Registrar Office for Nagappa Iyer Street is the Triplicane Sub Registrar Office, located at No.182 Bharati Salai (Pycrafts Road) Royapettah, Chennai-600014.

How is the guideline value determined?

The guideline value is determined by the Registration Department and is revised periodically based on various factors. It serves as a reference point for property transactions in the area.