Guideline Value for Nagappa Nagar 7th Main Road

Nagappa Nagar 7th Main Road guideline value

The current guideline value of Nagappa Nagar 7th Main Road is Rs 3,300 per sq.ft, effective from 1 July 2024. This road is located in Thiruneermalai village, under the jurisdiction of the Pammal SRO, and is classified as Commercial Special Type - I.

How the guideline value of Nagappa Nagar 7th Main Road has changed

The guideline value for Nagappa Nagar 7th Main Road has seen significant changes over the years. In 2003, the guideline value was Rs 427 per sq.ft, which increased to Rs 810 per sq.ft in 2007, marking a 90% rise. By 2017, the value further escalated to Rs 2,010 per sq.ft, representing a substantial increase of 148%. The 2023 revision set the value at Rs 3,000 per sq.ft, a 49% increase from the previous revision. The most recent revision in 2024 has raised the guideline value to Rs 3,300 per sq.ft, which is a 10% increase from 2023.

There are no figures available for the revisions in 2002 and 2012 for this street. Overall, from 2003 to 2024, the guideline value has increased by 673%, showcasing a consistent upward trend in the valuation of properties along this road.

Guideline values in Thiruneermalai

In Thiruneermalai, there are 316 streets under the Pammal SRO with a 2024 guideline value ranging from Rs 1,320 to Rs 6,240 per sq.ft. The median value is Rs 2,420 per sq.ft, placing Nagappa Nagar 7th Main Road's 2024 figure above this median.

• Nagappa Nagar 6th Main Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 5th Main Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 4th Main Road: Rs 3,300 per sq.ft (2024)
• Nagappa Nagar 3rd 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 7th Main 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 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 further calculations, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Nagappa Nagar 7th Main Road?

The Sub Registrar Office that covers Nagappa Nagar 7th 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

When buying or selling property in Thiruneermalai, the guideline value is a crucial factor in the registration process. It serves as a benchmark for determining the stamp duty and registration fees, ensuring that the transaction is recorded at a fair value as per the local regulations.

It is important for buyers and sellers to be aware of the current guideline value, as it directly influences the costs associated with property transactions. This value is updated periodically, reflecting changes in the real estate landscape and ensuring that property valuations remain relevant.

Frequently asked questions

What is the current guideline value of Nagappa Nagar 7th Main Road?

The current guideline value of Nagappa Nagar 7th Main 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 from Rs 427 per sq.ft in 2003 to Rs 3,300 per sq.ft in 2024, marking an overall increase of 673% over the years.

What is the classification of land on Nagappa Nagar 7th Main Road?

Nagappa Nagar 7th Main 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 is the stamp duty calculated for properties in Nagappa Nagar 7th Main Road?

The stamp duty is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a property valued at Rs 33,00,000 would incur a stamp duty of Rs 2,31,000.