Guideline Value for Nagappan Street

Nagappan Street guideline value

The current guideline value of Nagappan Street 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 Street has changed

The guideline value for Nagappan Street has undergone several revisions over the years. In 2007, the value was set at Rs 800 per sq.ft, which increased significantly to Rs 3,750 per sq.ft in 2012, marking a remarkable increase of 369%. However, from 2012 to 2017, the value decreased to Rs 2,512 per sq.ft, a drop of 33%. The most recent revision in 2024 saw the guideline value rise to Rs 4,100 per sq.ft, reflecting a substantial increase of 63% from the 2017 figure.

It is important to note that the register has no figure for Nagappan Street for the years 2023, 2003, and 2002. 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, placing Nagappan Street's 2024 figure below that median.

• Nagappan Lane: 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 Street

For a 1,000 sq.ft plot at the current guideline value of Rs 4,100 per sq.ft, the total guideline value amounts to Rs 41,00,000. The stamp duty at 7% would be Rs 2,87,000, and the registration fee at 2% would be Rs 82,000, bringing the total to Rs 3,69,000. Please note that the duty is charged on the higher of the guideline value and the sale price. You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Nagappan Street?

The Sub Registrar Office that covers Nagappan Street is the Ashok Nagar Sub Registrar Office, located at Nolambur 2nd Main Road, Nolambur Phase 2, Chennai 600037, near the 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 is an essential factor when registering property in Kodambakkam, as it determines the minimum value at which a property can be registered. Buyers and sellers must be aware of the guideline value to ensure compliance with local regulations during the registration process.

When a property is sold, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the government receives the appropriate revenue from property transactions.

Frequently asked questions

What is the current guideline value of Nagappan Street?

The current guideline value of Nagappan Street 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 land classification for Nagappan Street?

Nagappan Street is classified as Residential Class IV Type - I, which indicates its intended use for residential purposes.

Where can I find the Sub Registrar Office for Nagappan Street?

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

How are stamp duty and registration fees calculated?

Stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. For example, for a property valued at Rs 41,00,000, the stamp duty would be Rs 2,87,000 and the registration fee Rs 82,000.