Guideline Value for Nagappan Lane

Nagappan Lane guideline value

The current guideline value of Nagappan Lane is Rs 4,100 per sq.ft, effective from 1 July 2024. This street is located in Kodambakkam village under the Ashok Nagar SRO, classified as Residential Class IV Type - I.

How the guideline value of Nagappan Lane has changed

The guideline value for Nagappan Lane has seen several revisions over the years. Starting from the 2007 revision, the value was Rs 800 per sq.ft. It increased significantly to Rs 3,750 per sq.ft in 2012, marking a change of +369%. However, in the 2017 revision, the value dropped to Rs 2,512 per sq.ft, reflecting a decrease of -33%. The most recent revision in 2024 has set the value at Rs 4,100 per sq.ft, which is an increase of +63% from 2017.

There are no figures available for the years 2023, 2003, and 2002 in the register for this street. Overall, from 2007 to 2024, the guideline value has increased by +413%.

Guideline values in Kodambakkam

In Kodambakkam, there are 1,031 streets under the Ashok Nagar SRO that carry a 2024 guideline value, ranging from Rs 2,200 to Rs 11,000 per sq.ft. The median value for these streets is Rs 4,900 per sq.ft, indicating that Nagappan Lane's 2024 figure is below this median.

• Nagappan Street: Rs 4,100 per sq.ft (2024)
• Nagarathinammal Colony Block 62: Rs 6,000 per sq.ft (2024)
• Nagathamman Koil Street: Rs 5,500 per sq.ft (2024)
• Nagathamman Koil Street Block 88, 89, 90: Rs 5,500 per sq.ft (2024)
• Nagathamman Koil Street(Extension): Rs 5,500 per sq.ft (2024)
• Nakkeeran Street: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Nagappan Lane

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value would be Rs 41,00,000. The stamp duty at 7% would amount to Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. It is important to note that the duty is charged on the higher of the guideline value or the sale price.

You can use the stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nagappan Lane?

The Sub Registrar Office that covers Nagappan Lane is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037 (Near By Nolambur Eb Office). You can find your SRO for more information.

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

The guideline value plays a crucial role in the registration of property transactions in Kodambakkam. It serves as a benchmark for determining the minimum sale price for property transactions, ensuring that the government receives appropriate revenue from stamp duty and registration fees.

When buying or selling property, the guideline value is referenced to calculate the applicable taxes. Buyers should be aware that the stamp duty is charged based on the higher of the guideline value or the actual sale price, which can impact the total cost of the transaction.

Frequently asked questions

What is the current guideline value of Nagappan Lane?

The current guideline value of Nagappan Lane is Rs 4,100 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed from Rs 800 per sq.ft in 2007 to Rs 4,100 per sq.ft in 2024, marking an overall increase of +413% over the years.

What is the registration office for Nagappan Lane?

The registration office for Nagappan Lane is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037.

How is stamp duty calculated for properties in Nagappan Lane?

Stamp duty for properties in Nagappan Lane is calculated at 7% of the guideline value or the sale price, whichever is higher. For example, a 1,000 sq.ft property at the current rate would incur a stamp duty of Rs 2,87,000.

What is the land classification for Nagappan Lane?

Nagappan Lane is classified as Residential Class IV Type - I, which is relevant for determining the guideline value and property regulations.