Guideline Value for Nagarajan Main Road

Nagarajan Main Road guideline value

The current guideline value of Nagarajan Main Road is Rs 880 per sq.ft, effective from 1 July 2024. This road is located in Kovilpathagai village and falls under the Ambattur SRO. The land classification for this area is Residential Class II Type - I.

How the guideline value of Nagarajan Main Road has changed

Looking back at the revisions, the guideline value for Nagarajan Main Road was Rs 800 per sq.ft in 2023, which increased to Rs 880 per sq.ft in the 2024 revision, marking a 10% rise. Prior to that, in 2017, the value was Rs 536 per sq.ft, which saw a significant increase of 49% to reach Rs 800 per sq.ft in 2023. The 2012 revision also recorded Rs 800 per sq.ft, but this represented a decrease of 33% from the 2017 figure. Overall, from 2012 to 2024, the guideline value has increased by 10%.

The register has no figures for the years 2002, 2003, and 2007 for this street, so no changes can be noted for those years.

Guideline values in Kovilpathagai

In Kovilpathagai, there are 278 streets under the Ambattur SRO that carry a 2024 guideline value ranging from Rs 803 to Rs 2,900 per sq.ft, with a median value of Rs 870 per sq.ft. The guideline value for Nagarajan Main Road is above this median.

• Nagammal Avenue: Rs 880 per sq.ft (2024)
• Naavithar Street: Rs 806 per sq.ft (2024)
• Naaladiyar Street: Rs 880 per sq.ft (2024)
• Nainiappan Street: Rs 880 per sq.ft (2024)
• Muslim Street: Rs 805 per sq.ft (2024)
• Munusami Street: Rs 880 per sq.ft (2024)

Stamp duty and registration fee for property in Nagarajan Main Road

For a 1,000 sq.ft plot at the current guideline value of Rs 880 per sq.ft, the total guideline value amounts to Rs 8,80,000. The stamp duty at 7% would be Rs 61,600, and the registration fee at 2% would be Rs 17,600, bringing the total to Rs 79,200. 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 Nagarajan Main Road?

The Nagarajan Main Road falls under the Ambattur Sub Registrar Office, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone. You can find your SRO for more information.

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

The guideline value is a crucial factor when registering property transactions in Kovilpathagai. It determines the amount of stamp duty and registration fees that need to be paid, which are calculated based on the guideline value or the sale price, whichever is higher.

When buying or selling property, both parties should be aware of the current guideline value to ensure that the transaction is compliant with local regulations. This value helps maintain transparency and standardization in property dealings within the region.

Frequently asked questions

What is the current guideline value of Nagarajan Main Road?

The current guideline value of Nagarajan Main Road is Rs 880 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has seen several changes, from Rs 800 per sq.ft in 2023 to Rs 880 per sq.ft in 2024, a 10% increase. It was Rs 536 per sq.ft in 2017, which increased to Rs 800 per sq.ft in 2023, marking a 49% rise.

What is the land classification for Nagarajan Main Road?

Nagarajan Main Road is classified as Residential Class II Type - I, indicating its suitability for residential developments.

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

The stamp duty is charged at 7%, and the registration fee is 2% of the guideline value or sale price, whichever is higher. For example, a 1,000 sq.ft plot at Rs 880 per sq.ft incurs a total of Rs 79,200 in fees.

Which office handles property registrations for Nagarajan Main Road?

The Ambattur Sub Registrar Office handles property registrations for Nagarajan Main Road, located at Villivakkam Panchayat Union Board, Office Compound, Dunlop Bus Stop, Ambattur-600 053, Chennai registration zone.