Guideline Value for Nagappa Nagar 5th Main Road

Nagappa Nagar 5th Main Road guideline value

The current guideline value of Nagappa Nagar 5th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Thiruneermalai village, under the Pammal SRO, and is classified as Commercial Special Type - I.

How the guideline value of Nagappa Nagar 5th Main Road has changed

The guideline value for Nagappa Nagar 5th Main Road has seen significant changes over the years. The earliest recorded figure is from 2003, where the guideline value was Rs 427 per sq.ft. This increased to Rs 810 per sq.ft in 2007, marking a 90% rise. The value then saw a substantial increase to Rs 2,010 per sq.ft in 2017, which is a 148% jump from the previous revision. In 2023, the guideline value further increased to Rs 3,000 per sq.ft, reflecting a 49% rise. The most recent revision in 2024 set the guideline value at Rs 3,300 per sq.ft, which is a 10% increase from 2023.

There are no figures available for the years 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 673%.

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 5th Main Road's 2024 figure above this median.

• Nagappa Nagar 4th Main Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 6th Main Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 3rd Main Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 7th Main Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 2nd Main Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 2nd Cross Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nagappa Nagar 5th Main Road

For a 1,000 sq.ft plot at the current rate of Rs 3,300 per sq.ft, the guideline value amounts to Rs 33,00,000. The stamp duty at 7% would be Rs 2,31,000, and the registration fee at 2% would be Rs 66,000, totaling 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. You can also use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nagappa Nagar 5th Main Road?

The Sub Registrar Office covering Nagappa Nagar 5th Main 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 information.

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

The guideline value is a crucial factor when registering property transactions in Thiruneermalai. 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 guideline value is compared with the sale price, and the higher amount is used to calculate the applicable duties and fees. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nagappa Nagar 5th Main Road?

The current guideline value of Nagappa Nagar 5th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value has changed significantly from Rs 427 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, representing an overall increase of 673% over the years.

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

For a 1,000 sq.ft plot at Rs 3,300 per sq.ft, the total guideline value is Rs 33,00,000. The stamp duty is Rs 2,31,000, and the registration fee is Rs 66,000, totaling Rs 2,97,000.

Which office handles registrations for Nagappa Nagar 5th Main Road?

The Pammal Sub Registrar Office handles registrations for Nagappa Nagar 5th Main Road, located at Kamarajapuram Thiruneermalai Main Road, Pammal, Chennai-600075.

What is the significance of the guideline value in property transactions?

The guideline value is used to determine the stamp duty and registration fees during property transactions. It is essential for ensuring that the correct amounts are paid based on the higher of the guideline value or the sale price.