Guideline Value for Nagappa Nagar 2nd Cross Road

Nagappa Nagar 2nd Cross Road guideline value

The current guideline value of Nagappa Nagar 2nd Cross Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village and falls under the Pammal SRO. The land classification for this area is Commercial Special Type - I.

How the guideline value of Nagappa Nagar 2nd Cross Road has changed

Over the years, the guideline value of Nagappa Nagar 2nd Cross Road has seen significant changes. In the 2003 revision, the guideline value was Rs 427 per sq.ft. This figure increased to Rs 810 per sq.ft in 2007, marking a change of +90%. The 2017 revision saw a further increase to Rs 2,010 per sq.ft, which is a rise of +148%. The 2023 revision brought the value to Rs 3,000 per sq.ft, reflecting an increase of +49%. Finally, the current 2024 revision sets the guideline value at Rs 3,300 per sq.ft, a change of +10% from the previous year. It is important to note that the register has no figures for the years 2002 and 2012 for this street.

Overall, from 2003 to 2024, the guideline value has increased by +673%. This substantial rise highlights the changing landscape of property values in the area over the years.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO that carry a 2024 guideline value, ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median guideline value for these streets is Rs 2,420 per sq.ft, placing Nagappa Nagar 2nd Cross Road's 2024 figure above that median.

• Nagappa Nagar 1st Main Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 1st Cross Street: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 1st Cross Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 3rd Main Road: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nagappa Nagar 2nd Cross Road

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, bringing the total to Rs 2,97,000. 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 Nagappa Nagar 2nd Cross Road?

The Sub Registrar Office that covers Nagappa Nagar 2nd Cross Road is the Pammal Sub Registrar Office, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075, in the Chengalpattu registration zone. You can find your SRO for more details.

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

The guideline value plays a crucial role in property transactions in Thiruneermalai. When buying or selling property, the guideline value is used to determine the applicable stamp duty and registration fees. This ensures that the government receives the correct revenue based on the established values for different areas.

At the time of registration, the buyer must pay the stamp duty and registration fees calculated on the higher of the guideline value or the sale price. This process helps maintain transparency and accountability in property transactions.

Frequently asked questions

What is the current guideline value of Nagappa Nagar 2nd Cross Road?

The current guideline value of Nagappa Nagar 2nd Cross Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has increased significantly from Rs 427 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, reflecting an overall increase of +673% over this period.

What is the land classification for Nagappa Nagar 2nd Cross Road?

Nagappa Nagar 2nd Cross Road is classified as Commercial Special Type - I, indicating its suitability for commercial activities.

Where is the Pammal Sub Registrar Office located?

The Pammal Sub Registrar Office is located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075 in the Chengalpattu registration zone.

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the higher of the guideline value or the sale price of the property. For example, a 1,000 sq.ft plot at the current guideline value results in a total of Rs 2,97,000 in fees.